New York Life Investment Management LLC Increases Position in The Hershey Company (NYSE:HSY)

New York Life Investment Management LLC boosted its holdings in shares of The Hershey Company (NYSE:HSY) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,455 shares of the company’s stock after purchasing an additional 145 shares during the quarter. New York Life Investment Management LLC’s holdings in Hershey were worth $4,373,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Costello Asset Management INC acquired a new position in shares of Hershey during the 3rd quarter worth about $25,000. BKM Wealth Management LLC acquired a new position in shares of Hershey during the fourth quarter valued at approximately $26,000. First Financial Corp IN purchased a new position in shares of Hershey in the fourth quarter valued at approximately $29,000. Highlander Capital Management LLC boosted its stake in shares of Hershey by 125.3% in the fourth quarter. Highlander Capital Management LLC now owns 169 shares of the company’s stock worth $32,000 after acquiring an additional 94 shares during the last quarter. Finally, Rakuten Securities Inc. purchased a new stake in shares of Hershey during the fourth quarter worth approximately $32,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Stock Up 1.0 %

Shares of HSY opened at $197.92 on Friday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.52 and a current ratio of 0.97. The stock has a market capitalization of $40.37 billion, a PE ratio of 19.62, a P/E/G ratio of 3.04 and a beta of 0.33. The company’s 50-day simple moving average is $191.93 and its 200-day simple moving average is $190.76. The Hershey Company has a 1 year low of $178.82 and a 1 year high of $275.89.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Friday, May 3rd. The company reported $3.07 EPS for the quarter, topping the consensus estimate of $2.74 by $0.33. Hershey had a net margin of 16.67% and a return on equity of 51.79%. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the previous year, the firm posted $2.96 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Analysts forecast that The Hershey Company will post 9.6 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 2.77%. The ex-dividend date is Thursday, May 16th. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

Analyst Upgrades and Downgrades

HSY has been the topic of a number of research reports. Sanford C. Bernstein upgraded Hershey from a “market perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a report on Monday, January 29th. Royal Bank of Canada reissued a “sector perform” rating and issued a $213.00 target price on shares of Hershey in a research note on Friday, March 15th. Barclays boosted their target price on Hershey from $200.00 to $210.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. JPMorgan Chase & Co. increased their price target on Hershey from $185.00 to $193.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Finally, Edward Jones reissued a “hold” rating on shares of Hershey in a research note on Friday, April 19th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $212.78.

Insider Buying and Selling at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $185.83, for a total transaction of $278,745.00. Following the completion of the sale, the chief financial officer now directly owns 38,728 shares of the company’s stock, valued at approximately $7,196,824.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Hershey Company Profile

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.