Plato Investment Management Ltd Has $1.48 Million Stock Position in The Hershey Company (NYSE:HSY)

Plato Investment Management Ltd grew its stake in The Hershey Company (NYSE:HSY) by 1,494.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,623 shares of the company’s stock after acquiring an additional 7,145 shares during the quarter. Plato Investment Management Ltd’s holdings in Hershey were worth $1,483,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of Hershey by 7.7% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 754 shares of the company’s stock valued at $141,000 after acquiring an additional 54 shares during the last quarter. Raleigh Capital Management Inc. increased its stake in shares of Hershey by 20.6% in the 4th quarter. Raleigh Capital Management Inc. now owns 316 shares of the company’s stock valued at $59,000 after acquiring an additional 54 shares during the last quarter. Sound View Wealth Advisors Group LLC increased its stake in shares of Hershey by 1.5% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 3,661 shares of the company’s stock valued at $683,000 after acquiring an additional 55 shares during the last quarter. Great Valley Advisor Group Inc. increased its stake in shares of Hershey by 1.0% in the 4th quarter. Great Valley Advisor Group Inc. now owns 5,839 shares of the company’s stock valued at $1,089,000 after acquiring an additional 57 shares during the last quarter. Finally, Mount Lucas Management LP increased its stake in shares of Hershey by 0.6% in the 4th quarter. Mount Lucas Management LP now owns 9,619 shares of the company’s stock valued at $1,793,000 after acquiring an additional 57 shares during the last quarter. 57.96% of the stock is owned by institutional investors.

Hershey Stock Up 1.1 %

Shares of Hershey stock traded up $2.14 on Thursday, reaching $199.62. 2,842,145 shares of the company were exchanged, compared to its average volume of 1,862,797. The Hershey Company has a one year low of $178.82 and a one year high of $235.80. The company has a market capitalization of $40.37 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 4.83 and a beta of 0.36. The company has a current ratio of 0.97, a quick ratio of 0.64 and a debt-to-equity ratio of 0.92. The company has a 50-day moving average of $189.84 and a 200 day moving average of $192.61.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Friday, May 3rd. The company reported $3.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.74 by $0.33. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter in the prior year, the business posted $2.96 EPS. The business’s revenue was up 8.9% compared to the same quarter last year. On average, equities research analysts forecast that The Hershey Company will post 9.56 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 16th will be paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Friday, August 16th. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HSY. Sanford C. Bernstein decreased their price objective on Hershey from $237.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Wells Fargo & Company decreased their price objective on Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Friday, June 21st. Deutsche Bank Aktiengesellschaft decreased their price objective on Hershey from $197.00 to $192.00 and set a “hold” rating for the company in a research report on Tuesday, July 23rd. Barclays decreased their price objective on Hershey from $210.00 to $204.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 18th. Finally, Edward Jones reiterated a “hold” rating on shares of Hershey in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $204.89.

Insider Activity at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $182.93, for a total value of $274,395.00. Following the sale, the chief financial officer now owns 35,728 shares in the company, valued at approximately $6,535,723.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 4,500 shares of company stock worth $867,450. Company insiders own 0.34% of the company’s stock.

Hershey 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.