Maverick Capital Ltd. lifted its holdings in shares of Hershey Company (The) (NYSE:HSY – Free Report) by 122.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,317 shares of the company’s stock after buying an additional 12,817 shares during the period. Maverick Capital Ltd.’s holdings in Hershey were worth $4,847,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in HSY. Bard Associates Inc. acquired a new position in Hershey during the 4th quarter worth $26,000. Reflection Asset Management acquired a new position in shares of Hershey during the fourth quarter valued at $26,000. JPL Wealth Management LLC acquired a new position in shares of Hershey during the third quarter valued at $26,000. Laurel Wealth Advisors LLC bought a new stake in shares of Hershey during the fourth quarter valued at about $27,000. Finally, Manchester Capital Management LLC raised its stake in shares of Hershey by 123.0% during the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the company’s stock valued at $30,000 after purchasing an additional 91 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Hershey
In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $173.43, for a total transaction of $260,145.00. Following the completion of the sale, the chief financial officer directly owned 54,695 shares of the company’s stock, valued at approximately $9,485,753.85. This represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.08% of the company’s stock.
Hershey Stock Performance
Hershey (NYSE:HSY – Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.31. Hershey had a return on equity of 28.98% and a net margin of 9.12%.The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same period in the previous year, the firm earned $2.09 earnings per share. Hershey’s revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, equities analysts predict that Hershey Company will post 8.42 EPS for the current fiscal year.
Hershey Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were issued a dividend of $1.452 per share. This represents a $5.81 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, May 15th. Hershey’s payout ratio is presently 108.19%.
Analysts Set New Price Targets
A number of brokerages recently issued reports on HSY. Bank of America decreased their target price on shares of Hershey from $220.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday, June 25th. Wells Fargo & Company dropped their price target on shares of Hershey from $220.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Weiss Ratings lowered shares of Hershey from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, June 26th. Stifel Nicolaus decreased their price objective on shares of Hershey from $215.00 to $180.00 and set a “hold” rating for the company in a report on Wednesday, July 22nd. Finally, UBS Group lowered their price objective on shares of Hershey from $200.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday, July 16th. Seven analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat, Hershey presently has an average rating of “Hold” and a consensus price target of $208.28.
View Our Latest Analysis on HSY
About Hershey
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.
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