Hershey Co (NYSE:HSY) Stake Increased by DNB Asset Management AS

DNB Asset Management AS increased its holdings in Hershey Co (NYSE:HSY) by 99.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 69,638 shares of the company’s stock after purchasing an additional 34,661 shares during the period. DNB Asset Management AS’s holdings in Hershey were worth $7,997,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Raymond James & Associates boosted its position in Hershey by 26.1% in the 4th quarter. Raymond James & Associates now owns 56,621 shares of the company’s stock worth $6,069,000 after purchasing an additional 11,702 shares in the last quarter. Gotham Asset Management LLC lifted its position in shares of Hershey by 453.3% during the 4th quarter. Gotham Asset Management LLC now owns 92,780 shares of the company’s stock valued at $9,944,000 after buying an additional 76,011 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Hershey by 126.1% during the 4th quarter. Captrust Financial Advisors now owns 848 shares of the company’s stock valued at $91,000 after buying an additional 473 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Hershey by 5.5% during the 4th quarter. Victory Capital Management Inc. now owns 156,085 shares of the company’s stock valued at $16,729,000 after buying an additional 8,098 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. lifted its position in shares of Hershey by 1.2% during the 4th quarter. Ipswich Investment Management Co. Inc. now owns 10,245 shares of the company’s stock valued at $1,098,000 after buying an additional 125 shares in the last quarter. 52.71% of the stock is owned by institutional investors.

Hershey stock traded down $0.71 during midday trading on Friday, reaching $121.83. 1,051,317 shares of the stock traded hands, compared to its average volume of 1,156,857. Hershey Co has a 12-month low of $89.29 and a 12-month high of $126.11. The stock has a market capitalization of $25.40 billion, a price-to-earnings ratio of 22.73, a price-to-earnings-growth ratio of 2.58 and a beta of 0.18. The company has a debt-to-equity ratio of 2.27, a current ratio of 0.92 and a quick ratio of 0.59.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.48 by $0.11. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. Hershey had a return on equity of 90.64% and a net margin of 14.44%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.41 EPS. Equities research analysts anticipate that Hershey Co will post 5.68 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be given a dividend of $0.722 per share. This represents a $2.89 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Thursday, May 23rd. Hershey’s dividend payout ratio (DPR) is presently 53.92%.

In other news, insider Michele Buck sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $109.59, for a total value of $164,385.00. Following the transaction, the insider now owns 166,056 shares of the company’s stock, valued at $18,198,077.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Javier H. Idrovo sold 4,873 shares of Hershey stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $110.00, for a total value of $536,030.00. Following the completion of the sale, the vice president now owns 21,436 shares in the company, valued at $2,357,960. The disclosure for this sale can be found here. Insiders have sold a total of 409,893 shares of company stock worth $49,949,310 in the last three months. Corporate insiders own 0.87% of the company’s stock.

A number of research analysts have recently issued reports on the company. Credit Suisse Group set a $123.00 target price on Hershey and gave the company a “hold” rating in a research report on Friday, April 26th. UBS Group set a $100.00 price objective on Hershey and gave the company a “sell” rating in a research note on Friday, April 26th. Barclays increased their price objective on Hershey from $103.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. BMO Capital Markets increased their price objective on Hershey from $93.00 to $108.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. Finally, Bank of America reaffirmed a “buy” rating and issued a $130.00 target price (up from $120.00) on shares of Hershey in a research note on Friday, April 26th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $111.00.

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Hershey Company Profile

The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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