Public Sector Pension Investment Board lessened its stake in shares of Hershey Co (NYSE:HSY) by 11.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,737 shares of the company’s stock after selling 3,200 shares during the period. Public Sector Pension Investment Board’s holdings in Hershey were worth $3,783,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp increased its holdings in Hershey by 2.3% during the 4th quarter. State Street Corp now owns 7,729,298 shares of the company’s stock worth $1,136,052,000 after purchasing an additional 173,904 shares during the period. Bank of Montreal Can increased its holdings in shares of Hershey by 23.5% in the fourth quarter. Bank of Montreal Can now owns 1,444,409 shares of the company’s stock valued at $212,299,000 after purchasing an additional 274,955 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Hershey by 5.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,199,372 shares of the company’s stock valued at $176,284,000 after purchasing an additional 56,850 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Hershey by 56.0% in the fourth quarter. Schroder Investment Management Group now owns 1,118,247 shares of the company’s stock valued at $164,360,000 after purchasing an additional 401,249 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Hershey by 0.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 960,624 shares of the company’s stock valued at $141,195,000 after purchasing an additional 6,371 shares in the last quarter. Institutional investors and hedge funds own 53.13% of the company’s stock.
In other news, CEO Michele Buck sold 1,500 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $146.83, for a total transaction of $220,245.00. Following the completion of the sale, the chief executive officer now directly owns 149,429 shares in the company, valued at $21,940,660.07. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Pamela M. Arway sold 371 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $145.48, for a total transaction of $53,973.08. Following the sale, the director now owns 15,986 shares of the company’s stock, valued at $2,325,643.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,104 shares of company stock valued at $3,548,402. Corporate insiders own 0.41% of the company’s stock.
HSY stock traded up $6.31 during trading on Thursday, reaching $132.45. 1,438,918 shares of the company were exchanged, compared to its average volume of 1,692,243. The company has a 50-day moving average of $148.24 and a two-hundred day moving average of $149.29. The company has a market capitalization of $25.57 billion, a price-to-earnings ratio of 24.30, a P/E/G ratio of 2.61 and a beta of 0.11. Hershey Co has a twelve month low of $109.88 and a twelve month high of $162.20. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.05 and a quick ratio of 0.65.
Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.04. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Hershey had a net margin of 14.40% and a return on equity of 73.68%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.26 EPS. On average, analysts forecast that Hershey Co will post 6.1 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Friday, February 21st were given a $0.773 dividend. This represents a $3.09 annualized dividend and a yield of 2.33%. The ex-dividend date was Thursday, February 20th. Hershey’s dividend payout ratio (DPR) is currently 53.46%.
Several research firms recently commented on HSY. Deutsche Bank assumed coverage on shares of Hershey in a research report on Wednesday, December 11th. They issued a “hold” rating and a $155.00 price objective on the stock. Piper Sandler raised shares of Hershey from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $134.00 to $138.00 in a report on Tuesday. Edward Jones raised shares of Hershey from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research raised shares of Hershey from a “sell” rating to a “hold” rating and set a $154.00 price target for the company in a report on Friday, December 27th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $157.00 price target on shares of Hershey in a report on Sunday, February 2nd. One investment 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. Hershey currently has an average rating of “Hold” and an average target price of $146.00.
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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