The Hershey Company (NYSE:HSY) Shares Purchased by Covestor Ltd

Covestor Ltd boosted its stake in The Hershey Company (NYSE:HSY) by 42.5% in the 4th quarter, Holdings Channel reports. The firm owned 238 shares of the company’s stock after purchasing an additional 71 shares during the period. Covestor Ltd’s holdings in Hershey were worth $40,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HSY. Crowley Wealth Management Inc. acquired a new position in Hershey during the 4th quarter worth about $28,000. Grove Bank & Trust lifted its position in shares of Hershey by 248.0% during the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 124 shares in the last quarter. Vision Financial Markets LLC purchased a new position in shares of Hershey in the fourth quarter valued at approximately $29,000. Lee Danner & Bass Inc. acquired a new position in shares of Hershey in the fourth quarter valued at approximately $34,000. Finally, ST Germain D J Co. Inc. increased its stake in Hershey by 61.7% during the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock worth $44,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Performance

Shares of HSY stock opened at $168.16 on Wednesday. The Hershey Company has a 52-week low of $140.13 and a 52-week high of $211.92. The stock’s 50-day moving average price is $168.19 and its 200 day moving average price is $170.98. 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 stock has a market capitalization of $34.04 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 5.90 and a beta of 0.28.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, topping 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%. As a group, equities research analysts forecast that The Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were issued a dividend of $1.37 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $5.48 annualized dividend and a yield of 3.26%. Hershey’s dividend payout ratio is currently 50.28%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. UBS Group dropped their price target on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. JPMorgan Chase & Co. cut their price target on Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Citigroup decreased their price objective on Hershey from $173.00 to $165.00 and set a “neutral” rating for the company in a research note on Tuesday. Jefferies Financial Group cut their target price on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Hershey from $184.00 to $148.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Five equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $163.05.

Insider Activity at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $148.00, for a total value of $41,144.00. Following the completion of the transaction, the chief accounting officer now owns 2,682 shares in the company, valued at approximately $396,936. This represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.28% of the stock is owned by insiders.

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.