Mirae Asset Global Investments Co. Ltd. Has $7.72 Million Holdings in The Hershey Company (NYSE:HSY)

Mirae Asset Global Investments Co. Ltd. grew its stake in The Hershey Company (NYSE:HSYGet Rating) by 13.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 35,655 shares of the company’s stock after buying an additional 4,327 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Hershey were worth $7,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its stake in Hershey by 21.1% during the first quarter. Exchange Traded Concepts LLC now owns 7,228 shares of the company’s stock valued at $1,566,000 after acquiring an additional 1,257 shares during the period. Wealth Alliance bought a new stake in shares of Hershey during the first quarter valued at approximately $235,000. Capital Investment Advisors LLC raised its stake in shares of Hershey by 3.7% in the first quarter. Capital Investment Advisors LLC now owns 2,204 shares of the company’s stock valued at $477,000 after purchasing an additional 78 shares in the last quarter. National Asset Management Inc. lifted its position in Hershey by 4.5% in the first quarter. National Asset Management Inc. now owns 1,774 shares of the company’s stock worth $386,000 after purchasing an additional 76 shares during the period. Finally, Veriti Management LLC boosted its stake in Hershey by 11.2% during the first quarter. Veriti Management LLC now owns 5,298 shares of the company’s stock worth $1,148,000 after buying an additional 534 shares in the last quarter. Institutional investors own 54.28% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michele Buck sold 14,250 shares of Hershey stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $221.86, for a total transaction of $3,161,505.00. Following the completion of the transaction, the chief executive officer now owns 170,555 shares in the company, valued at $37,839,332.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Hershey Trust Co Trustee In Tr sold 167,095 shares of Hershey stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $222.40, for a total transaction of $37,161,928.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michele Buck sold 14,250 shares of Hershey stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $221.86, for a total value of $3,161,505.00. Following the transaction, the chief executive officer now owns 170,555 shares of the company’s stock, valued at approximately $37,839,332.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 870,538 shares of company stock worth $191,962,935. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HSY. StockNews.com cut shares of Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday. Cowen began coverage on shares of Hershey in a research note on Wednesday, September 14th. They set a “market perform” rating and a $238.00 price target for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Hershey from $219.00 to $227.00 in a report on Friday, July 29th. Cowen initiated coverage on Hershey in a report on Wednesday, September 14th. They issued a “market perform” rating and a $238.00 target price for the company. Finally, Royal Bank of Canada started coverage on shares of Hershey in a report on Wednesday, September 14th. They set an “outperform” rating for the company. Nine equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $221.94.

Hershey Price Performance

Shares of NYSE HSY opened at $223.41 on Thursday. The stock has a market capitalization of $45.80 billion, a price-to-earnings ratio of 28.42, a PEG ratio of 3.54 and a beta of 0.34. The business has a 50-day moving average of $224.76 and a 200-day moving average of $219.17. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.74 and a quick ratio of 0.37. The Hershey Company has a fifty-two week low of $167.80 and a fifty-two week high of $234.56.

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

Hershey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Friday, August 19th were issued a dividend of $1.036 per share. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $4.14 dividend on an annualized basis and a yield of 1.85%. This is a boost from Hershey’s previous quarterly dividend of $0.90. Hershey’s dividend payout ratio (DPR) is presently 52.67%.

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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