International Assets Investment Management LLC Boosts Stake in Hershey Company (The) (NYSE:HSY)

International Assets Investment Management LLC raised its holdings in shares of Hershey Company (The) (NYSE:HSY) by 22.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,469 shares of the company’s stock after buying an additional 627 shares during the quarter. International Assets Investment Management LLC’s holdings in Hershey were worth $593,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HSY. Montag & Caldwell LLC purchased a new position in Hershey during the fourth quarter worth about $25,000. Putney Financial Group LLC bought a new stake in Hershey during the fourth quarter worth about $25,000. Crowley Wealth Management Inc. bought a new stake in Hershey during the fourth quarter worth about $28,000. Mpwm Advisory Solutions LLC bought a new stake in Hershey during the fourth quarter worth about $28,000. Finally, Vision Financial Markets LLC bought a new stake in Hershey during the fourth quarter worth about $29,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Trading Down 0.3%

HSY opened at $167.00 on Friday. The business has a 50 day simple moving average of $164.65 and a two-hundred day simple moving average of $165.24. The firm has a market capitalization of $33.83 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 6.12 and a beta of 0.29. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.59 and a quick ratio of 1.11. Hershey Company has a one year low of $140.13 and a one year high of $208.03.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.09 EPS for the quarter, beating analysts’ consensus estimates of $1.94 by $0.15. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.81 billion. Hershey had a return on equity of 38.70% and a net margin of 15.32%. Hershey’s quarterly revenue was down 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.07 EPS. Analysts predict that Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 16th were issued a dividend of $1.37 per share. The ex-dividend date was Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.28%. Hershey’s dividend payout ratio (DPR) is 67.57%.

Wall Street Analyst Weigh In

HSY has been the subject of several research analyst reports. Royal Bank Of Canada dropped their price target on Hershey from $178.00 to $175.00 and set a “sector perform” rating for the company in a research note on Friday, May 2nd. Mizuho dropped their price target on Hershey from $167.00 to $155.00 and set a “neutral” rating for the company in a research note on Wednesday, May 28th. Sanford C. Bernstein lifted their price target on Hershey from $147.00 to $155.00 and gave the stock a “market perform” rating in a research note on Friday, May 2nd. Barclays lifted their price target on Hershey from $160.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Finally, Morgan Stanley lowered their target price on Hershey from $183.00 to $177.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Five research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $158.84.

Insiders Place Their Bets

In related news, CAO Jennifer Mccalman sold 974 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value of $153,025.14. Following the sale, the chief accounting officer now owns 2,994 shares in the company, valued at $470,387.34. This represents a 24.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michele Buck sold 31,210 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $160.80, for a total value of $5,018,568.00. Following the completion of the sale, the chief executive officer now owns 193,624 shares in the company, valued at $31,134,739.20. The trade was a 13.88% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

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.