Raiffeisen Bank International AG Buys New Shares in The Hershey Company (NYSE:HSY)

Raiffeisen Bank International AG purchased a new stake in shares of The Hershey Company (NYSE:HSY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 1,048 shares of the company’s stock, valued at approximately $177,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HSY. Capital International Investors lifted its position in Hershey by 31.4% during the fourth quarter. Capital International Investors now owns 12,460,147 shares of the company’s stock valued at $2,110,126,000 after buying an additional 2,980,997 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Hershey during the fourth quarter valued at approximately $80,978,000. Charles Schwab Investment Management Inc. lifted its position in Hershey by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company’s stock valued at $785,003,000 after buying an additional 247,675 shares in the last quarter. Freestone Grove Partners LP acquired a new position in Hershey during the fourth quarter valued at approximately $27,902,000. Finally, Northern Trust Corp lifted its position in Hershey by 10.8% during the fourth quarter. Northern Trust Corp now owns 1,578,957 shares of the company’s stock valued at $267,396,000 after buying an additional 154,238 shares in the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Price Performance

HSY opened at $158.49 on Monday. The company has a 50-day moving average of $166.36 and a 200-day moving average of $167.70. The company has a market capitalization of $32.08 billion, a P/E ratio of 14.54, a PEG ratio of 5.90 and a beta of 0.32. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $209.65. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96.

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

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be given a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Friday, May 16th. Hershey’s payout ratio is currently 67.57%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. UBS Group reduced their price target on shares of Hershey from $175.00 to $170.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company lifted their price target on shares of Hershey from $125.00 to $132.00 and gave the company an “underweight” rating in a research report on Friday, March 14th. Piper Sandler cut shares of Hershey from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $153.00 to $120.00 in a research report on Friday, January 31st. Citigroup reduced their target price on shares of Hershey from $173.00 to $165.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Finally, Stifel Nicolaus reduced their target price on shares of Hershey from $170.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday, February 7th. Five equities research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $161.40.

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.