1832 Asset Management L.P. Has $3.26 Million Holdings in The Hershey Company (NYSE:HSY)

1832 Asset Management L.P. grew its holdings in shares of The Hershey Company (NYSE:HSY) by 3.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,748 shares of the company’s stock after purchasing an additional 503 shares during the period. 1832 Asset Management L.P.’s holdings in Hershey were worth $3,257,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Riverview Trust Co acquired a new position in shares of Hershey during the 1st quarter worth approximately $29,000. Highlander Capital Management LLC grew its position in shares of Hershey by 125.3% during the 4th quarter. Highlander Capital Management LLC now owns 169 shares of the company’s stock worth $32,000 after purchasing an additional 94 shares in the last quarter. Rakuten Securities Inc. bought a new stake in shares of Hershey during the 4th quarter worth approximately $32,000. Quarry LP bought a new stake in shares of Hershey during the 4th quarter worth approximately $34,000. Finally, Crewe Advisors LLC bought a new stake in shares of Hershey during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Trading Up 0.4 %

Shares of HSY stock traded up $0.86 during trading hours on Friday, hitting $193.53. 1,504,176 shares of the company’s stock traded hands, compared to its average volume of 1,674,560. The stock’s 50 day simple moving average is $190.58 and its 200 day simple moving average is $192.52. The stock has a market cap of $39.14 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 4.79 and a beta of 0.36. The Hershey Company has a 12 month low of $178.82 and a 12 month high of $238.09. The company has a quick ratio of 0.64, a current ratio of 0.97 and a debt-to-equity ratio of 0.92.

Hershey (NYSE:HSY) last released its quarterly earnings results on Friday, May 3rd. The company reported $3.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.33. Hershey had a net margin of 18.13% and a return on equity of 50.15%. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter last year, the firm earned $2.96 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, sell-side analysts anticipate that The Hershey Company will post 9.58 EPS for the current year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 17th were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Thursday, May 16th. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Sanford C. Bernstein cut their price target on shares of Hershey from $237.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Piper Sandler reaffirmed a “neutral” rating and set a $179.00 price target on shares of Hershey in a report on Friday, June 21st. Barclays cut their price target on shares of Hershey from $210.00 to $204.00 and set an “equal weight” rating for the company in a report on Tuesday, June 18th. Argus cut their price target on shares of Hershey from $240.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Hershey from $197.00 to $192.00 and set a “hold” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $204.89.

Insider Transactions at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $182.93, for a total transaction of $274,395.00. Following the completion of the sale, the chief financial officer now directly owns 35,728 shares in the company, valued at $6,535,723.04. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 4,500 shares of company stock worth $867,450 over the last three months. 0.34% of the stock is owned by company insiders.

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.