Mawer Investment Management Ltd. reduced its holdings in shares of The Hershey Company (NYSE:HSY) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 531,700 shares of the company’s stock after selling 2,835 shares during the quarter. Mawer Investment Management Ltd.’s holdings in The Hershey were worth $80,994,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Slow Capital Inc. bought a new stake in shares of The Hershey in the third quarter valued at $26,000. CX Institutional grew its position in The Hershey by 90.1% during the fourth quarter. CX Institutional now owns 270 shares of the company’s stock worth $41,000 after buying an additional 128 shares in the last quarter. Phoenix Wealth Advisors bought a new stake in The Hershey during the fourth quarter worth about $45,000. Center for Financial Planning Inc. lifted its stake in The Hershey by 26.5% during the third quarter. Center for Financial Planning Inc. now owns 334 shares of the company’s stock worth $48,000 after purchasing an additional 70 shares during the last quarter. Finally, Safir Wealth Advisors LLC bought a new stake in The Hershey during the fourth quarter worth about $61,000. Institutional investors and hedge funds own 52.12% of the company’s stock.
Shares of HSY stock traded up $0.28 during midday trading on Tuesday, reaching $148.53. 7,688 shares of the stock were exchanged, compared to its average volume of 962,740. The Hershey Company has a 1 year low of $109.88 and a 1 year high of $161.75. The company’s 50 day moving average is $149.07 and its two-hundred day moving average is $147.47. The company has a current ratio of 1.44, a quick ratio of 1.01 and a debt-to-equity ratio of 1.98. The firm has a market cap of $30.92 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 2.98 and a beta of 0.31.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 15th. Shareholders of record on Friday, February 19th will be issued a dividend of $0.804 per share. The ex-dividend date is Thursday, February 18th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.17%. The Hershey’s dividend payout ratio (DPR) is 55.71%.
Several brokerages have issued reports on HSY. Morgan Stanley lifted their price target on The Hershey from $148.00 to $152.00 and gave the stock an “equal weight” rating in a research note on Monday, November 9th. Credit Suisse Group boosted their target price on The Hershey from $172.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, February 5th. Wells Fargo & Company lowered their target price on The Hershey from $155.00 to $149.00 and set an “equal weight” rating for the company in a research note on Monday, November 9th. Royal Bank of Canada raised The Hershey from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $157.00 to $170.00 in a research note on Monday, February 8th. Finally, Bank of America raised The Hershey from a “neutral” rating to a “buy” rating and set a $168.00 target price for the company in a research note on Wednesday, January 6th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $154.60.
In other The Hershey news, Director Pamela M. Arway sold 278 shares of the company’s stock in a transaction that occurred on Friday, January 8th. The stock was sold at an average price of $151.46, for a total transaction of $42,105.88. Following the transaction, the director now owns 15,994 shares in the company, valued at approximately $2,422,451.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michele Buck sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, December 28th. The stock was sold at an average price of $151.05, for a total value of $377,625.00. Following the transaction, the chief executive officer now owns 157,621 shares in the company, valued at approximately $23,808,652.05. The disclosure for this sale can be found here. Insiders have sold a total of 7,778 shares of company stock worth $1,154,256 in the last quarter. Company insiders own 29.39% of the company’s stock.
The Hershey Profile
The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products and pantry items. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.
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