one8zero8 LLC acquired a new position in Hershey Company (The) (NYSE:HSY – Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,950 shares of the company’s stock, valued at approximately $518,000.
Several other hedge funds and other institutional investors have also modified their holdings of HSY. BlackRock Inc. purchased a new stake in shares of Hershey during the 2nd quarter worth about $2,303,889,000. Norges Bank purchased a new position in Hershey in the fourth quarter valued at approximately $272,506,000. Marshall Wace LLP raised its holdings in Hershey by 546.6% in the fourth quarter. Marshall Wace LLP now owns 1,057,476 shares of the company’s stock valued at $192,439,000 after buying an additional 893,940 shares during the period. First Trust Advisors LP lifted its position in Hershey by 315.4% during the first quarter. First Trust Advisors LP now owns 1,083,675 shares of the company’s stock valued at $225,285,000 after buying an additional 822,772 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its stake in Hershey by 150.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,278,881 shares of the company’s stock worth $232,731,000 after buying an additional 767,478 shares during the period. 57.96% of the stock is owned by institutional investors and hedge funds.
Hershey Trading Up 3.0%
HSY opened at $189.04 on Thursday. Hershey Company has a 12-month low of $161.43 and a 12-month high of $239.48. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.18 and a quick ratio of 0.66. The stock has a market capitalization of $37.98 billion, a PE ratio of 25.83, a P/E/G ratio of 1.12 and a beta of 0.11. The firm’s fifty day moving average price is $178.15 and its 200 day moving average price is $195.61.
Hershey Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 14th will be issued a $1.452 dividend. This represents a $5.81 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, August 14th. Hershey’s payout ratio is currently 79.37%.
Analyst Ratings Changes
A number of equities analysts have recently commented on the stock. Piper Sandler cut their target price on shares of Hershey from $249.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday, July 9th. JPMorgan Chase & Co. upped their price target on shares of Hershey from $191.00 to $193.00 and gave the stock a “neutral” rating in a research report on Friday, July 31st. Sanford C. Bernstein reiterated a “market perform” rating and issued a $201.00 price target on shares of Hershey in a report on Friday, July 31st. Weiss Ratings raised Hershey from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Finally, Evercore set a $225.00 price objective on Hershey in a research note on Thursday, July 23rd. Seven analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $203.61.
Read Our Latest Stock Report on Hershey
Insider Transactions at Hershey
In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $170.00, for a total transaction of $255,000.00. Following the sale, the chief financial officer owned 53,195 shares in the company, valued at $9,043,150. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by insiders.
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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