Alliancebernstein L.P. Buys 94,539 Shares of The Hershey Company (NYSE:HSY)

Alliancebernstein L.P. raised its stake in shares of The Hershey Company (NYSE:HSY) by 55.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 264,267 shares of the company’s stock after acquiring an additional 94,539 shares during the quarter. Alliancebernstein L.P. owned approximately 0.13% of Hershey worth $44,754,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Public Sector Pension Investment Board increased its holdings in shares of Hershey by 18.3% during the third quarter. Public Sector Pension Investment Board now owns 6,470 shares of the company’s stock worth $1,241,000 after buying an additional 1,000 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in Hershey during the 3rd quarter valued at $385,000. Investment Management Corp of Ontario raised its position in Hershey by 48.0% in the 3rd quarter. Investment Management Corp of Ontario now owns 4,931 shares of the company’s stock valued at $946,000 after purchasing an additional 1,600 shares during the last quarter. Integrated Wealth Concepts LLC boosted its stake in Hershey by 49.1% in the third quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the company’s stock worth $2,124,000 after purchasing an additional 3,647 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in shares of Hershey by 2.1% during the third quarter. Royal London Asset Management Ltd. now owns 93,738 shares of the company’s stock worth $17,977,000 after purchasing an additional 1,922 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Price Performance

HSY opened at $162.12 on Friday. The company has a fifty day simple moving average of $165.54 and a 200 day simple moving average of $172.69. 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 stock has a market cap of $32.81 billion, a P/E ratio of 14.87, a P/E/G ratio of 5.90 and a beta of 0.28. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $211.92.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, topping 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%. On average, research analysts expect that The Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend was Friday, February 14th. Hershey’s dividend payout ratio (DPR) is presently 50.28%.

Wall Street Analyst Weigh In

HSY has been the topic of several research reports. Piper Sandler downgraded shares of Hershey from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $153.00 to $120.00 in a research report on Friday, January 31st. UBS Group reduced their target price on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Barclays lowered their price target on shares of Hershey from $170.00 to $160.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. TD Cowen reduced their price objective on Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, Wells Fargo & Company boosted their target price on Hershey from $125.00 to $132.00 and gave the stock an “underweight” rating in a research report on Friday, March 14th. Five research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $162.50.

Insider Buying and Selling

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the 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 completion of the transaction, the chief accounting officer now owns 2,682 shares in the company, valued at approximately $396,936. This represents a 9.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is currently 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.