Willis Investment Counsel Acquires 22,087 Shares of The Hershey Company (NYSE:HSY)

Willis Investment Counsel boosted its holdings in shares of The Hershey Company (NYSE:HSY) by 15.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 162,666 shares of the company’s stock after acquiring an additional 22,087 shares during the quarter. Hershey makes up approximately 1.9% of Willis Investment Counsel’s portfolio, making the stock its 16th largest holding. Willis Investment Counsel’s holdings in Hershey were worth $27,821,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. UNIVEST FINANCIAL Corp raised its position in Hershey by 1.5% during the fourth quarter. UNIVEST FINANCIAL Corp now owns 4,500 shares of the company’s stock valued at $762,000 after acquiring an additional 68 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its position in Hershey by 2.6% during the first quarter. Fifth Third Wealth Advisors LLC now owns 2,768 shares of the company’s stock valued at $473,000 after acquiring an additional 69 shares in the last quarter. OLD Point Trust & Financial Services N A raised its position in Hershey by 2.2% during the fourth quarter. OLD Point Trust & Financial Services N A now owns 3,240 shares of the company’s stock valued at $549,000 after acquiring an additional 70 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in Hershey by 1.3% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,546 shares of the company’s stock valued at $939,000 after acquiring an additional 70 shares in the last quarter. Finally, Covestor Ltd raised its position in shares of Hershey by 42.5% in the fourth quarter. Covestor Ltd now owns 238 shares of the company’s stock valued at $40,000 after purchasing an additional 71 shares during the period. Institutional investors own 57.96% of the company’s stock.

Insider Buying and Selling at Hershey

In other news, CEO Michele Buck sold 31,210 shares of the business’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $160.80, for a total value of $5,018,568.00. Following the sale, the chief executive officer now owns 193,624 shares in the company, valued at approximately $31,134,739.20. The trade was a 13.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jennifer Mccalman sold 974 shares of the business’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $157.11, for a total transaction of $153,025.14. Following the completion of 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 disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.

Hershey Trading Up 2.5%

Shares of Hershey stock opened at $172.33 on Friday. The firm has a market capitalization of $34.91 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 5.90 and a beta of 0.29. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. The company’s fifty day moving average price is $163.57 and its two-hundred day moving average price is $165.76. The Hershey Company has a 52-week low of $140.13 and a 52-week high of $208.03.

Hershey (NYSE:HSY) last announced its quarterly earnings results on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.15. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.81 billion. Hershey had a net margin of 19.83% and a return on equity of 44.77%. The business’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.07 EPS. On average, analysts expect that The Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 16th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.18%. The ex-dividend date is Friday, May 16th. Hershey’s dividend payout ratio (DPR) is presently 67.57%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HSY. Barclays lifted their price target on shares of Hershey from $160.00 to $165.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Morgan Stanley dropped their price target on shares of Hershey from $183.00 to $177.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Royal Bank of Canada dropped their price target on shares of Hershey from $178.00 to $175.00 and set a “sector perform” rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company lifted their price target on shares of Hershey from $125.00 to $132.00 and gave the company an “underweight” rating in a research report on Friday, March 14th. Finally, UBS Group dropped their price target on shares of Hershey from $175.00 to $170.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $158.84.

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.