Saudi Central Bank lifted its stake in Hershey Company (The) (NYSE:HSY – Free Report) by 89.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,365 shares of the company’s stock after acquiring an additional 4,896 shares during the period. Saudi Central Bank’s holdings in Hershey were worth $1,819,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Shah Wealth Advisors LLC acquired a new stake in Hershey in the second quarter worth approximately $348,000. Raiffeisen Bank International AG increased its position in shares of Hershey by 3.1% during the 2nd quarter. Raiffeisen Bank International AG now owns 3,580 shares of the company’s stock valued at $650,000 after purchasing an additional 108 shares during the period. Tudor Financial Inc. raised its stake in shares of Hershey by 73.2% in the 2nd quarter. Tudor Financial Inc. now owns 11,880 shares of the company’s stock worth $2,084,000 after buying an additional 5,020 shares in the last quarter. Rogco LP lifted its holdings in shares of Hershey by 8.3% in the second quarter. Rogco LP now owns 2,561 shares of the company’s stock valued at $449,000 after buying an additional 197 shares during the period. Finally, denkapparat Operations GmbH bought a new position in Hershey during the second quarter valued at about $325,000. Institutional investors and hedge funds own 57.96% of the company’s stock.
Hershey Trading Up 0.1%
NYSE:HSY opened at $173.25 on Wednesday. The stock has a market cap of $34.81 billion, a PE ratio of 23.67, a price-to-earnings-growth ratio of 1.37 and a beta of 0.11. Hershey Company has a fifty-two week low of $161.43 and a fifty-two week 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’s 50-day moving average is $178.76 and its two-hundred day moving average is $191.86.
Hershey Dividend Announcement
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 given a dividend of $1.452 per share. The ex-dividend date of this dividend is Friday, August 14th. This represents a $5.81 dividend on an annualized basis and a yield of 3.4%. Hershey’s dividend payout ratio (DPR) is presently 79.37%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on the company. UBS Group lifted their target price on Hershey from $190.00 to $198.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Stifel Nicolaus reduced their price objective on shares of Hershey from $215.00 to $180.00 and set a “hold” rating for the company in a research report on Wednesday, July 22nd. Barclays cut their target price on shares of Hershey from $208.00 to $200.00 and set an “equal weight” rating for the company in a research note on Monday, August 3rd. TD Cowen reaffirmed a “buy” rating on shares of Hershey in a report on Tuesday, September 1st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $191.00 target price on shares of Hershey in a report on Friday, July 31st. Seven investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Hershey has an average rating of “Hold” and a consensus target price of $204.78.
Check Out Our Latest Report on Hershey
Insiders Place Their Bets
In other Hershey news, CFO Steven Voskuil sold 1,500 shares of the company’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $170.00, for a total value of $255,000.00. Following the transaction, the chief financial officer directly owned 53,195 shares of the company’s stock, valued at $9,043,150. This represents a 2.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by insiders.
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.
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