The Hershey Company (NYSE:HSY) Shares Purchased by Bank of Nova Scotia

Bank of Nova Scotia raised its holdings in The Hershey Company (NYSE:HSY) by 4.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,782 shares of the company’s stock after purchasing an additional 885 shares during the quarter. Bank of Nova Scotia’s holdings in Hershey were worth $3,350,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HSY. UNIVEST FINANCIAL Corp raised its holdings in Hershey by 1.5% during the fourth quarter. UNIVEST FINANCIAL Corp now owns 4,500 shares of the company’s stock worth $762,000 after purchasing an additional 68 shares during the last quarter. OLD Point Trust & Financial Services N A boosted its stake in Hershey by 2.2% in the 4th quarter. OLD Point Trust & Financial Services N A now owns 3,240 shares of the company’s stock worth $549,000 after buying an additional 70 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Hershey by 1.3% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,546 shares of the company’s stock valued at $939,000 after purchasing an additional 70 shares during the period. Private Trust Co. NA increased its holdings in shares of Hershey by 1.5% during the 4th quarter. Private Trust Co. NA now owns 5,438 shares of the company’s stock worth $921,000 after buying an additional 81 shares during the last quarter. Finally, Waterfront Wealth Inc. raised its holdings in shares of Hershey by 1.4% in the 4th quarter. Waterfront Wealth Inc. now owns 5,744 shares of the company’s stock worth $973,000 after purchasing an additional 82 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Insider Transactions at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of Hershey stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction of $41,144.00. Following the sale, the chief accounting officer now owns 2,682 shares of the company’s stock, valued at approximately $396,936. The trade was a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.34% of the company’s stock.

Hershey Stock Up 0.9 %

Shares of Hershey stock opened at $165.56 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $167.39 and a 200 day moving average price of $171.29. The Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $211.92. The firm has a market cap of $33.51 billion, a P/E ratio of 15.19, a P/E/G ratio of 5.90 and a beta of 0.28.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. On average, sell-side analysts forecast that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Friday, February 14th. Hershey’s dividend payout ratio is presently 50.28%.

Analyst Ratings Changes

HSY has been the subject of several recent research reports. TD Cowen dropped their price objective on shares of Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Jefferies Financial Group lowered their price target on Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a report on Tuesday, January 21st. Wells Fargo & Company boosted their price objective on Hershey from $125.00 to $132.00 and gave the stock an “underweight” rating in a research note on Friday, March 14th. Morgan Stanley assumed coverage on Hershey in a research note on Monday, March 24th. They issued an “equal weight” rating and a $183.00 target price for the company. Finally, Bernstein Bank reduced their price target on Hershey from $177.00 to $146.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Five research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $162.50.

Hershey Profile

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.