Envestnet Asset Management Inc. Has $17.28 Million Position in The Hershey Company (NYSE:HSY)

Envestnet Asset Management Inc. raised its holdings in shares of The Hershey Company (NYSE:HSYGet Rating) by 12.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,780 shares of the company’s stock after purchasing an additional 8,570 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Hershey were worth $17,283,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Venture Visionary Partners LLC increased its stake in Hershey by 1.0% during the 1st quarter. Venture Visionary Partners LLC now owns 14,824 shares of the company’s stock valued at $3,211,000 after purchasing an additional 142 shares in the last quarter. Metis Global Partners LLC increased its stake in Hershey by 47.9% during the 1st quarter. Metis Global Partners LLC now owns 3,176 shares of the company’s stock valued at $687,000 after purchasing an additional 1,029 shares in the last quarter. Liberty One Investment Management LLC increased its stake in Hershey by 2.6% during the 1st quarter. Liberty One Investment Management LLC now owns 11,418 shares of the company’s stock valued at $2,473,000 after purchasing an additional 286 shares in the last quarter. Cookson Peirce & Co. Inc. increased its stake in Hershey by 8.0% during the 1st quarter. Cookson Peirce & Co. Inc. now owns 131,096 shares of the company’s stock valued at $28,399,000 after purchasing an additional 9,738 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake in Hershey by 1.4% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 82,871 shares of the company’s stock valued at $17,952,000 after purchasing an additional 1,141 shares in the last quarter. Institutional investors own 52.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. StockNews.com upgraded shares of Hershey from a “hold” rating to a “buy” rating in a research note on Saturday, May 7th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Hershey from $219.00 to $227.00 in a research note on Friday, July 29th. BMO Capital Markets upped their target price on shares of Hershey from $215.00 to $255.00 in a research note on Friday, April 29th. Royal Bank of Canada upped their target price on shares of Hershey from $214.00 to $237.00 in a research note on Friday, April 29th. Finally, Mizuho upped their target price on shares of Hershey from $200.00 to $210.00 in a research note on Friday, April 29th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $219.64.

Hershey Price Performance

NYSE HSY opened at $228.12 on Thursday. The company has a market cap of $346.63 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 3.65 and a beta of 0.34. The Hershey Company has a 52 week low of $167.80 and a 52 week high of $231.96. The company has a quick ratio of 0.37, a current ratio of 0.74 and a debt-to-equity ratio of 1.16. The firm’s 50-day simple moving average is $215.95 and its two-hundred day simple moving average is $213.10.

Hershey (NYSE:HSYGet Rating) last released its quarterly earnings data on Thursday, July 28th. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.69 by $0.11. The business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.24 billion. Hershey had a net margin of 16.76% and a return on equity of 60.62%. The company’s revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.47 earnings per share. Research analysts predict that The Hershey Company will post 8.21 earnings per share for the current year.

Hershey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Friday, August 19th will be issued a dividend of $1.036 per share. The ex-dividend date is Thursday, August 18th. This is an increase from Hershey’s previous quarterly dividend of $0.90. This represents a $4.14 annualized dividend and a yield of 1.82%. Hershey’s dividend payout ratio is 45.80%.

Insider Buying and Selling at Hershey

In other news, major shareholder Hershey Trust Co Trustee In Tr sold 253,066 shares of the stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $219.37, for a total value of $55,515,088.42. Following the sale, the insider now directly owns 894,235 shares of the company’s stock, valued at $196,168,331.95. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, major shareholder Hershey Trust Co Trustee In Tr sold 253,066 shares of the stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $219.37, for a total value of $55,515,088.42. Following the sale, the insider now directly owns 894,235 shares of the company’s stock, valued at $196,168,331.95. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michele Buck sold 5,000 shares of the stock in a transaction dated Tuesday, June 7th. The stock was sold at an average price of $209.15, for a total transaction of $1,045,750.00. Following the completion of the sale, the chief executive officer now directly owns 185,555 shares in the company, valued at $38,808,828.25. The disclosure for this sale can be found here. Insiders have sold a total of 866,588 shares of company stock valued at $191,036,015 over the last three months. 0.34% of the stock is currently owned by insiders.

Hershey Profile

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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; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, meat snacks, bars and snack bites, mixes, popcorn, and protein bars.

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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