Swiss Life Asset Management Ltd Decreases Position in Hershey Company (The) $HSY

Swiss Life Asset Management Ltd decreased its stake in Hershey Company (The) (NYSE:HSY) by 18.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 29,007 shares of the company’s stock after selling 6,610 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Hershey were worth $5,279,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. JPL Wealth Management LLC purchased a new stake in shares of Hershey in the third quarter worth about $26,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Hershey in the fourth quarter worth about $27,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Hershey in the third quarter worth about $35,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Hershey in the fourth quarter worth about $42,000. Finally, Close Asset Management Ltd boosted its position in shares of Hershey by 339.3% in the third quarter. Close Asset Management Ltd now owns 246 shares of the company’s stock worth $46,000 after buying an additional 190 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

Shares of NYSE HSY opened at $195.86 on Thursday. Hershey Company has a fifty-two week low of $150.04 and a fifty-two week high of $239.48. The business has a 50 day moving average price of $204.42 and a two-hundred day moving average price of $196.91. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The firm has a market cap of $39.73 billion, a PE ratio of 36.47, a price-to-earnings-growth ratio of 1.15 and a beta of 0.07.

Hershey (NYSE:HSY) last released its earnings results on Thursday, April 30th. The company reported $2.35 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 the consensus estimate of $3.03 billion. During the same quarter last year, the business posted $2.09 EPS. Hershey’s quarterly revenue was up 10.7% compared to the same quarter last year. Sell-side analysts expect that Hershey Company will post 8.45 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be issued a dividend of $1.452 per share. This represents a $5.81 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, May 15th. Hershey’s dividend payout ratio (DPR) is currently 108.19%.

Insiders Place Their Bets

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $194.10, for a total transaction of $291,150.00. Following the transaction, the chief financial officer owned 57,695 shares of the company’s stock, valued at $11,198,599.50. This trade represents a 2.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jason Reiman sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $226.07, for a total value of $452,140.00. Following the transaction, the senior vice president directly owned 41,036 shares in the company, valued at approximately $9,277,008.52. This represents a 4.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 10,000 shares of company stock valued at $2,189,090 in the last quarter. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Mizuho increased their price target on Hershey from $165.00 to $195.00 and gave the company a “neutral” rating in a report on Tuesday, February 24th. Weiss Ratings restated a “hold (c)” rating on shares of Hershey in a research note on Tuesday, April 21st. Wells Fargo & Company lowered their price objective on Hershey from $220.00 to $200.00 and set an “equal weight” rating for the company in a research note on Friday, May 1st. Piper Sandler restated an “overweight” rating and set a $249.00 price objective on shares of Hershey in a research note on Wednesday, February 25th. Finally, Jefferies Financial Group raised their price objective on Hershey from $185.00 to $207.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. Seven equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat.com, Hershey currently has an average rating of “Hold” and an average price target of $218.33.

Hershey Company 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.