Cambridge Investment Research Advisors Inc. Raises Holdings in The Hershey Company (NYSE:HSY)

Cambridge Investment Research Advisors Inc. boosted its stake in shares of The Hershey Company (NYSE:HSY) by 35.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,478 shares of the company’s stock after buying an additional 20,352 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Hershey were worth $14,631,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of HSY. Vanguard Group Inc. boosted its position in Hershey by 1.5% during the third quarter. Vanguard Group Inc. now owns 14,911,173 shares of the company’s stock valued at $2,983,427,000 after purchasing an additional 222,960 shares in the last quarter. Nordea Investment Management AB lifted its position in Hershey by 143.7% during the third quarter. Nordea Investment Management AB now owns 2,465,403 shares of the company’s stock valued at $496,039,000 after acquiring an additional 1,453,819 shares during the last quarter. Norges Bank acquired a new stake in Hershey in the fourth quarter valued at approximately $349,448,000. Northern Trust Corp grew its holdings in Hershey by 2.0% in the third quarter. Northern Trust Corp now owns 1,779,549 shares of the company’s stock worth $356,052,000 after purchasing an additional 35,393 shares during the last quarter. Finally, FMR LLC grew its stake in Hershey by 0.7% during the 3rd quarter. FMR LLC now owns 1,170,830 shares of the company’s stock worth $234,260,000 after buying an additional 8,344 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Hershey Trading Down 2.0 %

Shares of Hershey stock opened at $197.00 on Friday. The Hershey Company has a fifty-two week low of $178.82 and a fifty-two week high of $263.38. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.64 and a current ratio of 0.97. The company has a market cap of $39.84 billion, a P/E ratio of 19.52, a price-to-earnings-growth ratio of 4.41 and a beta of 0.33. The firm has a 50-day simple moving average of $195.69 and a two-hundred day simple moving average of $192.32.

Hershey (NYSE:HSY) last released its quarterly earnings results on Friday, May 3rd. The company reported $3.07 earnings per share 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 during the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter in the prior year, the firm posted $2.96 EPS. Hershey’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts predict that The Hershey Company will post 9.6 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 17th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Thursday, May 16th. Hershey’s payout ratio is presently 54.31%.

Insiders Place Their Bets

In other news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $185.83, for a total value of $278,745.00. Following the sale, the chief financial officer now owns 38,728 shares in the company, valued at $7,196,824.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 4,500 shares of company stock worth $882,405. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Morgan Stanley downgraded Hershey from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $191.00 to $183.00 in a report on Monday, February 12th. Piper Sandler lowered their price objective on shares of Hershey from $200.00 to $179.00 and set a “neutral” rating for the company in a research note on Monday, April 15th. Barclays upped their target price on Hershey from $200.00 to $210.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. JPMorgan Chase & Co. lifted their price target on Hershey from $185.00 to $193.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, Sanford C. Bernstein raised Hershey from a “market perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $213.06.

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.