CIBC Private Wealth Group LLC Acquires 626 Shares of The Hershey Company (NYSE:HSY)

CIBC Private Wealth Group LLC grew its holdings in The Hershey Company (NYSE:HSYFree Report) by 3.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,569 shares of the company’s stock after purchasing an additional 626 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Hershey were worth $3,835,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of HSY. Norges Bank bought a new position in shares of Hershey in the 4th quarter valued at about $349,448,000. Nordea Investment Management AB boosted its stake in shares of Hershey by 143.7% in the 3rd quarter. Nordea Investment Management AB now owns 2,465,403 shares of the company’s stock valued at $496,039,000 after purchasing an additional 1,453,819 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Hershey by 18,495.8% in the 4th quarter. International Assets Investment Management LLC now owns 295,673 shares of the company’s stock valued at $55,125,000 after purchasing an additional 294,083 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Hershey by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 14,911,173 shares of the company’s stock valued at $2,983,427,000 after purchasing an additional 222,960 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in Hershey during the 3rd quarter worth approximately $33,672,000. Institutional investors own 57.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on HSY shares. JPMorgan Chase & Co. lifted their price objective on shares of Hershey from $185.00 to $193.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Piper Sandler reduced their price objective on shares of Hershey from $200.00 to $179.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th. Citigroup reduced their price objective on shares of Hershey from $213.00 to $199.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. BNP Paribas lowered shares of Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 price objective on the stock. in a research note on Tuesday, March 26th. Finally, Argus reduced their price objective on shares of Hershey from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Hershey presently has an average rating of “Hold” and a consensus target price of $210.56.

Read Our Latest Research Report 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 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 transaction, the chief financial officer now directly owns 38,728 shares in the company, valued at $7,196,824.24. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders have sold 4,500 shares of company stock worth $882,405. Insiders own 0.34% of the company’s stock.

Hershey Price Performance

NYSE HSY opened at $196.06 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.97 and a debt-to-equity ratio of 0.92. The Hershey Company has a 12-month low of $178.82 and a 12-month high of $263.29. The company has a market capitalization of $39.65 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 4.44 and a beta of 0.37. The firm’s 50 day moving average is $195.83 and its 200-day moving average is $192.55.

Hershey (NYSE:HSYGet Free Report) last posted its quarterly earnings data on Friday, May 3rd. The company reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $0.33. Hershey had a net margin of 18.13% and a return on equity of 50.15%. The company had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same period last year, the company earned $2.96 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. Equities research analysts anticipate that The Hershey Company will post 9.6 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 17th will be issued a dividend of $1.37 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $5.48 dividend on an annualized basis and a yield of 2.80%. Hershey’s payout ratio is 54.31%.

About Hershey

(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; 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.

Further Reading

Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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