Bank of New York Mellon Corp Boosts Holdings in Hershey Company (The) $HSY

Bank of New York Mellon Corp boosted its holdings in shares of Hershey Company (The) (NYSE:HSY) by 20.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,137,082 shares of the company’s stock after purchasing an additional 195,500 shares during the period. Bank of New York Mellon Corp owned approximately 0.56% of Hershey worth $206,926,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of HSY. Norges Bank purchased a new position in Hershey during the 4th quarter worth $272,506,000. First Trust Advisors LP grew its position in Hershey by 240.0% during the 3rd quarter. First Trust Advisors LP now owns 1,262,671 shares of the company’s stock worth $236,183,000 after purchasing an additional 891,287 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Hershey by 121.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,104,299 shares of the company’s stock worth $206,559,000 after purchasing an additional 605,048 shares during the last quarter. Candlestick Capital Management LP purchased a new position in Hershey during the 3rd quarter worth $64,469,000. Finally, Clark Capital Management Group Inc. purchased a new position in Hershey during the 3rd quarter worth $44,464,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Stock Up 0.9%

HSY stock opened at $184.42 on Friday. Hershey Company has a one year low of $160.07 and a one year high of $239.48. The stock has a market capitalization of $37.41 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 1.10 and a beta of 0.09. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 1.24. The company has a fifty day moving average of $194.51 and a 200-day moving average of $198.75.

Hershey (NYSE:HSY) last released its earnings results on Thursday, April 30th. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.04 by $0.31. Hershey had a net margin of 9.12% and a return on equity of 28.98%. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter last year, the business earned $2.09 EPS. The business’s revenue was up 10.7% on a year-over-year basis. As a group, analysts expect that Hershey Company will post 8.45 EPS for the current year.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be paid a $1.452 dividend. This represents a $5.81 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Friday, May 15th. Hershey’s dividend payout ratio (DPR) is 108.19%.

Insider Activity at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction on Monday, April 20th. The shares were sold at an average price of $194.10, for a total value of $291,150.00. Following the completion of the sale, the chief financial officer owned 57,695 shares in the company, valued at approximately $11,198,599.50. This trade represents a 2.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Mizuho lowered their price objective on shares of Hershey from $195.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 20th. TD Cowen raised shares of Hershey from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research report on Friday, May 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Hershey in a research report on Tuesday, April 21st. Zacks Research downgraded shares of Hershey from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, BTIG Research assumed coverage on shares of Hershey in a research report on Monday, April 13th. They set a “neutral” rating on the stock. Seven analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, Hershey has an average rating of “Hold” and an average target price of $218.06.

Hershey Profile

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.