FormulaFolio Investments LLC purchased a new position in shares of The Hershey Company (NYSE:HSY) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,996 shares of the company’s stock, valued at approximately $609,000.
A number of other large investors have also modified their holdings of the stock. Norges Bank acquired a new stake in The Hershey during the 4th quarter worth $220,190,000. Capital Asset Advisory Services LLC acquired a new stake in shares of The Hershey in the 4th quarter worth $95,000. UBS Asset Management Americas Inc. lifted its stake in shares of The Hershey by 0.8% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,066,029 shares of the company’s stock worth $162,388,000 after acquiring an additional 8,433 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of The Hershey by 302.7% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 902 shares of the company’s stock worth $137,000 after acquiring an additional 678 shares during the period. Finally, Main Street Financial Solutions LLC acquired a new stake in shares of The Hershey in the 4th quarter worth $672,000. Hedge funds and other institutional investors own 52.12% of the company’s stock.
In other The Hershey news, Director Pamela M. Arway sold 278 shares of The Hershey stock in a transaction that occurred on Friday, January 8th. The shares were sold at an average price of $151.46, for a total transaction of $42,105.88. Following the transaction, the director now directly owns 15,994 shares of the company’s stock, valued at $2,422,451.24. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Christopher M. Scalia sold 8,021 shares of The Hershey stock in a transaction that occurred on Friday, March 12th. The shares were sold at an average price of $152.47, for a total transaction of $1,222,961.87. Following the transaction, the senior vice president now directly owns 7,318 shares in the company, valued at $1,115,775.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,899 shares of company stock worth $2,875,200. 29.39% of the stock is currently owned by corporate insiders.
The Hershey (NYSE:HSY) last released its earnings results on Wednesday, February 3rd. The company reported $1.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.06. The Hershey had a net margin of 14.87% and a return on equity of 70.30%. The business had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same period last year, the company earned $1.28 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. As a group, sell-side analysts expect that The Hershey Company will post 6.23 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Friday, February 19th were given a dividend of $0.804 per share. The ex-dividend date was Thursday, February 18th. This represents a $3.22 dividend on an annualized basis and a yield of 2.00%. The Hershey’s dividend payout ratio (DPR) is 55.71%.
A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada upgraded shares of The Hershey from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $157.00 to $170.00 in a report on Monday, February 8th. Jefferies Financial Group increased their price target on shares of The Hershey from $157.00 to $162.00 and gave the company a “hold” rating in a report on Tuesday, January 12th. Bank of America upgraded shares of The Hershey from a “neutral” rating to a “buy” rating and set a $168.00 price target for the company in a report on Wednesday, January 6th. Piper Sandler upgraded shares of The Hershey from a “neutral” rating to an “overweight” rating in a report on Tuesday, March 23rd. Finally, Credit Suisse Group raised their target price on shares of The Hershey from $172.00 to $175.00 and gave the company an “outperform” rating in a report on Friday, February 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $158.43.
The Hershey Profile
The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products and pantry items. The company operates in 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.
Featured Article: Momentum Indicators
Want to see what other hedge funds are holding HSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hershey Company (NYSE:HSY).
Receive News & Ratings for The Hershey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hershey and related companies with MarketBeat.com's FREE daily email newsletter.