Cibc World Markets Corp Buys 7,654 Shares of The Hershey Company (NYSE:HSY)

Cibc World Markets Corp boosted its stake in shares of The Hershey Company (NYSE:HSY) by 15.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,970 shares of the company’s stock after purchasing an additional 7,654 shares during the quarter. Cibc World Markets Corp’s holdings in Hershey were worth $9,817,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Avestar Capital LLC boosted its holdings in shares of Hershey by 6.0% during the 3rd quarter. Avestar Capital LLC now owns 1,175 shares of the company’s stock worth $225,000 after buying an additional 67 shares during the period. Kingsview Wealth Management LLC boosted its holdings in Hershey by 1.0% during the third quarter. Kingsview Wealth Management LLC now owns 8,151 shares of the company’s stock valued at $1,563,000 after acquiring an additional 80 shares during the period. Private Trust Co. NA grew its position in shares of Hershey by 1.5% in the fourth quarter. Private Trust Co. NA now owns 5,438 shares of the company’s stock valued at $921,000 after purchasing an additional 81 shares during the last quarter. Waterfront Wealth Inc. increased its stake in shares of Hershey by 1.4% in the fourth quarter. Waterfront Wealth Inc. now owns 5,744 shares of the company’s stock worth $973,000 after purchasing an additional 82 shares during the period. Finally, Advisory Alpha LLC lifted its position in shares of Hershey by 3.2% during the 4th quarter. Advisory Alpha LLC now owns 2,988 shares of the company’s stock worth $506,000 after purchasing an additional 94 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Insider Activity

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

Analyst Ratings Changes

Several research analysts have commented on HSY shares. Stifel Nicolaus dropped their price target on Hershey from $170.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday, February 7th. Mizuho dropped their target price on shares of Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. Bernstein Bank cut their target price on shares of Hershey from $177.00 to $146.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Jefferies Financial Group decreased their price target on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 21st. Finally, Bank of America reaffirmed a “neutral” rating and set a $180.00 price objective on shares of Hershey in a research report on Thursday, December 12th. Five analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $163.75.

Hershey Price Performance

NYSE:HSY opened at $169.26 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. The firm has a market cap of $34.26 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $211.92. The company’s 50-day moving average price is $162.29 and its two-hundred day moving average price is $175.43.

Hershey (NYSE:HSY) last posted its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. On average, equities analysts anticipate that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend was Friday, February 14th. Hershey’s payout ratio is presently 50.28%.

About Hershey

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.