American International Group Inc. Has $7.23 Million Position in The Hershey Company (NYSE:HSY)

American International Group Inc. cut its stake in The Hershey Company (NYSE:HSYFree Report) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,752 shares of the company’s stock after selling 712 shares during the period. American International Group Inc.’s holdings in Hershey were worth $7,225,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. 1832 Asset Management L.P. boosted its holdings in Hershey by 0.7% in the fourth quarter. 1832 Asset Management L.P. now owns 16,245 shares of the company’s stock valued at $3,029,000 after acquiring an additional 113 shares during the last quarter. Cetera Advisor Networks LLC boosted its holdings in Hershey by 30.9% in the fourth quarter. Cetera Advisor Networks LLC now owns 43,707 shares of the company’s stock valued at $8,149,000 after acquiring an additional 10,327 shares during the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Hershey by 29.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 27,310 shares of the company’s stock valued at $5,092,000 after acquiring an additional 6,139 shares during the last quarter. Morningstar Investment Management LLC boosted its holdings in Hershey by 7.3% in the fourth quarter. Morningstar Investment Management LLC now owns 3,594 shares of the company’s stock valued at $670,000 after acquiring an additional 246 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Hershey by 96.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 17,614 shares of the company’s stock valued at $3,284,000 after acquiring an additional 8,665 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors.

Insider Activity at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders sold 4,500 shares of company stock valued at $882,405. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on HSY shares. Argus reduced their target price on Hershey from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Royal Bank of Canada restated a “sector perform” rating and set a $213.00 price target on shares of Hershey in a report on Friday, March 15th. Wells Fargo & Company increased their price target on Hershey from $200.00 to $205.00 and gave the stock an “equal weight” rating in a report on Monday, May 6th. Piper Sandler cut their price target on Hershey from $200.00 to $179.00 and set a “neutral” rating on the stock in a report on Monday, April 15th. Finally, BNP Paribas cut Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 price target on the stock. in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $210.56.

Check Out Our Latest Analysis on HSY

Hershey Price Performance

Shares of HSY opened at $191.19 on Tuesday. The stock has a market cap of $38.66 billion, a P/E ratio of 18.95, a P/E/G ratio of 4.39 and a beta of 0.37. The business’s fifty day moving average is $195.69 and its 200 day moving average is $192.57. The Hershey Company has a 12-month low of $178.82 and a 12-month high of $263.29. The company has a quick ratio of 0.64, a current ratio of 0.97 and a debt-to-equity ratio of 0.92.

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

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 17th will be given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date of this dividend is Thursday, May 16th. Hershey’s payout ratio is currently 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.

See Also

Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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