Quantinno Capital Management LP Raises Stake in The Hershey Company (NYSE:HSY)

Quantinno Capital Management LP grew its stake in The Hershey Company (NYSE:HSY) by 312.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,963 shares of the company’s stock after purchasing an additional 21,947 shares during the period. Quantinno Capital Management LP’s holdings in Hershey were worth $4,905,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. UNIVEST FINANCIAL Corp increased its position in Hershey by 1.5% during the fourth quarter. UNIVEST FINANCIAL Corp now owns 4,500 shares of the company’s stock worth $762,000 after buying an additional 68 shares during the period. OLD Point Trust & Financial Services N A increased its holdings in shares of Hershey by 2.2% in the fourth quarter. OLD Point Trust & Financial Services N A now owns 3,240 shares of the company’s stock valued at $549,000 after purchasing an additional 70 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Hershey by 1.3% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,546 shares of the company’s stock valued at $939,000 after purchasing an additional 70 shares during the period. Covestor Ltd boosted its stake in shares of Hershey by 42.5% in the fourth quarter. Covestor Ltd now owns 238 shares of the company’s stock valued at $40,000 after buying an additional 71 shares in the last quarter. Finally, Private Trust Co. NA boosted its stake in shares of Hershey by 1.5% in the fourth quarter. Private Trust Co. NA now owns 5,438 shares of the company’s stock valued at $921,000 after buying an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

Shares of NYSE HSY opened at $158.49 on Friday. The Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $209.65. The business has a 50 day moving average price of $166.36 and a two-hundred day moving average price of $167.77. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. The firm has a market cap of $32.08 billion, a PE ratio of 14.54, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, May 1st. The company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.15. Hershey had a return on equity of 44.77% and a net margin of 19.83%. The firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the firm earned $3.07 EPS. Hershey’s quarterly revenue was down 13.8% on a year-over-year basis. Sell-side analysts expect that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 16th will be paid a dividend of $1.37 per share. The ex-dividend date is Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a yield of 3.46%. Hershey’s dividend payout ratio (DPR) is presently 67.57%.

Analyst Upgrades and Downgrades

A number of analysts have commented on HSY shares. Barclays boosted their target price on Hershey from $160.00 to $165.00 and gave the stock an “equal weight” rating in a research report on Monday, May 5th. Bernstein Bank reduced their price objective on Hershey from $177.00 to $146.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Royal Bank of Canada dropped their target price on Hershey from $178.00 to $175.00 and set a “sector perform” rating for the company in a research note on Friday, May 2nd. Piper Sandler lowered Hershey from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $153.00 to $120.00 in a research note on Friday, January 31st. Finally, Stifel Nicolaus dropped their price target on Hershey from $170.00 to $160.00 and set a “hold” rating for the company in a research note on Friday, February 7th. Five equities research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to data from MarketBeat, Hershey has an average rating of “Hold” and an average target price of $161.40.

About Hershey

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.