The Hershey Company (NYSE:HSY) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp boosted its stake in The Hershey Company (NYSE:HSYFree Report) by 3.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,348 shares of the company’s stock after purchasing an additional 779 shares during the period. Van ECK Associates Corp’s holdings in Hershey were worth $4,671,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Econ Financial Services Corp increased its holdings in Hershey by 5.2% in the 2nd quarter. Econ Financial Services Corp now owns 909 shares of the company’s stock valued at $227,000 after purchasing an additional 45 shares in the last quarter. PFS Investments Inc. grew its stake in shares of Hershey by 4.1% during the fourth quarter. PFS Investments Inc. now owns 1,159 shares of the company’s stock valued at $268,000 after acquiring an additional 46 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Hershey by 0.7% during the second quarter. Parallel Advisors LLC now owns 6,800 shares of the company’s stock valued at $1,698,000 after acquiring an additional 47 shares in the last quarter. Apollon Wealth Management LLC grew its stake in shares of Hershey by 1.1% during the second quarter. Apollon Wealth Management LLC now owns 4,281 shares of the company’s stock valued at $1,069,000 after acquiring an additional 48 shares in the last quarter. Finally, Keybank National Association OH grew its stake in shares of Hershey by 0.4% during the second quarter. Keybank National Association OH now owns 11,421 shares of the company’s stock valued at $2,852,000 after acquiring an additional 49 shares in the last quarter. 56.47% of the stock is currently owned by institutional investors and hedge funds.

Hershey Stock Performance

HSY opened at $195.45 on Monday. The business’s 50 day moving average is $189.41 and its 200-day moving average is $199.04. The stock has a market cap of $39.97 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 2.63 and a beta of 0.36. The company has a current ratio of 0.97, a quick ratio of 0.52 and a debt-to-equity ratio of 0.92. The Hershey Company has a twelve month low of $178.82 and a twelve month high of $276.88.

Hershey (NYSE:HSYGet Free Report) last released its quarterly earnings results on Thursday, February 8th. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.07. The company had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Hershey had a return on equity of 51.79% and a net margin of 16.67%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.02 earnings per share. On average, analysts predict that The Hershey Company will post 9.6 earnings per share for the current year.

Hershey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Tuesday, February 20th will be issued a dividend of $1.37 per share. This is a boost from Hershey’s previous quarterly dividend of $1.19. The ex-dividend date is Friday, February 16th. This represents a $5.48 annualized dividend and a yield of 2.80%. Hershey’s payout ratio is presently 52.71%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on HSY shares. Mizuho lowered their target price on Hershey from $195.00 to $180.00 and set a “neutral” rating for the company in a research note on Tuesday, October 31st. Bank of America downgraded Hershey from a “buy” rating to a “neutral” rating and lowered their target price for the company from $250.00 to $200.00 in a research note on Friday, December 15th. DA Davidson assumed coverage on Hershey in a research note on Friday, December 8th. They issued a “neutral” rating and a $205.00 price target for the company. Wells Fargo & Company lifted their price target on Hershey from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $213.00 price target on shares of Hershey in a research note on Wednesday, February 7th. Fifteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Hershey presently has a consensus rating of “Hold” and a consensus target price of $228.00.

View Our Latest Stock Analysis on HSY

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $192.71, for a total transaction of $289,065.00. Following the sale, the chief financial officer now owns 32,816 shares of the company’s stock, valued at $6,323,971.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $192.71, for a total value of $289,065.00. Following the transaction, the chief financial officer now owns 32,816 shares in the company, valued at $6,323,971.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Charles R. Raup sold 2,065 shares of Hershey stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $191.85, for a total transaction of $396,170.25. Following the completion of the transaction, the insider now owns 14,770 shares in the company, valued at approximately $2,833,624.50. The disclosure for this sale can be found here. Insiders have sold a total of 7,018 shares of company stock valued at $1,331,734 over the last quarter. Corporate insiders own 0.22% of the company’s stock.

Hershey Company Profile

(Free Report)

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, bars, snack bites, mixes, popcorn, and pretzels.

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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