Stifel Financial Corp Purchases 132,019 Shares of The Hershey Company (NYSE:HSY)

Stifel Financial Corp boosted its holdings in The Hershey Company (NYSE:HSY - Free Report) by 13.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,096,767 shares of the company's stock after purchasing an additional 132,019 shares during the period. Stifel Financial Corp owned about 0.54% of Hershey worth $185,743,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HSY. Montag & Caldwell LLC bought a new position in Hershey during the fourth quarter worth about $25,000. Crowley Wealth Management Inc. bought a new position in shares of Hershey during the 4th quarter worth approximately $28,000. Grove Bank & Trust increased its holdings in shares of Hershey by 248.0% during the 4th quarter. Grove Bank & Trust now owns 174 shares of the company's stock worth $29,000 after acquiring an additional 124 shares during the last quarter. Vision Financial Markets LLC acquired a new stake in Hershey during the 4th quarter valued at $29,000. Finally, Lee Danner & Bass Inc. bought a new position in Hershey during the fourth quarter worth $34,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Price Performance

Shares of NYSE HSY traded down $0.81 during mid-day trading on Friday, hitting $163.18. 981,800 shares of the stock traded hands, compared to its average volume of 1,778,963. The company has a market cap of $33.03 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 5.90 and a beta of 0.28. The Hershey Company has a twelve month low of $140.13 and a twelve month high of $211.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. The firm has a 50 day simple moving average of $169.37 and a two-hundred day simple moving average of $169.90.

Hershey (NYSE:HSY - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. As a group, equities research analysts forecast that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.36%. The ex-dividend date was Friday, February 14th. Hershey's payout ratio is currently 50.28%.

Analyst Ratings Changes

Several research analysts have weighed in on HSY shares. Barclays lowered their price target on shares of Hershey from $170.00 to $160.00 and set an "equal weight" rating on the stock in a report on Monday, February 10th. Piper Sandler cut shares of Hershey from a "neutral" rating to an "underweight" rating and reduced their target price for the company from $153.00 to $120.00 in a research report on Friday, January 31st. Citigroup dropped their price target on shares of Hershey from $173.00 to $165.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Royal Bank of Canada restated a "sector perform" rating and set a $178.00 price objective on shares of Hershey in a research note on Monday, February 3rd. Finally, UBS Group increased their target price on Hershey from $159.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, April 17th. Five research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $163.35.

Insider Transactions at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of Hershey stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction of $41,144.00. Following the transaction, the chief accounting officer now directly owns 2,682 shares of the company's stock, valued at approximately $396,936. The trade was a 9.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is owned by company insiders.

Hershey Company Profile

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.