Verity & Verity LLC Acquires 20,683 Shares of The Hershey Company (NYSE:HSY)

Verity & Verity LLC raised its holdings in shares of The Hershey Company (NYSE:HSY) by 33.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,222 shares of the company’s stock after acquiring an additional 20,683 shares during the period. Verity & Verity LLC’s holdings in Hershey were worth $14,062,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Capital International Investors grew 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 acquiring an additional 2,980,997 shares during the last quarter. Charles Schwab Investment Management Inc. grew 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 acquiring an additional 247,675 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Hershey by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 3,801,145 shares of the company’s stock worth $642,139,000 after purchasing an additional 47,394 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Hershey by 38.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,628,047 shares of the company’s stock worth $275,710,000 after purchasing an additional 453,428 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Hershey by 10.8% in the fourth quarter. Northern Trust Corp now owns 1,578,957 shares of the company’s stock worth $267,396,000 after purchasing an additional 154,238 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors.

Hershey Price Performance

Shares of Hershey stock opened at $172.33 on Friday. The Hershey Company has a twelve month low of $140.13 and a twelve month high of $208.03. The stock has a market capitalization of $34.91 billion, a P/E ratio of 15.81, a PEG ratio of 5.90 and a beta of 0.29. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68. The business’s fifty day moving average price is $163.57 and its 200 day moving average price is $165.76.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the prior year, the firm posted $3.07 earnings per share. Hershey’s revenue for the quarter was down 13.8% compared to the same quarter last year. As a group, research analysts anticipate that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date is Friday, May 16th. Hershey’s dividend payout ratio (DPR) is presently 67.57%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on HSY. Citigroup cut their target price on shares of Hershey from $173.00 to $165.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Wells Fargo & Company raised their price target on Hershey from $125.00 to $132.00 and gave the stock an “underweight” rating in a research note on Friday, March 14th. Barclays raised their price target on Hershey from $160.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. DA Davidson raised their price target on Hershey from $162.00 to $163.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Finally, Morgan Stanley dropped their price target on Hershey from $183.00 to $177.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Five investment analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $158.84.

Insider Transactions at Hershey

In other news, CAO Jennifer Mccalman sold 974 shares of Hershey stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value of $153,025.14. Following the completion of the sale, the chief accounting officer now directly owns 2,994 shares of the company’s stock, valued at approximately $470,387.34. This trade represents a 24.55% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michele Buck sold 31,210 shares of Hershey stock in a transaction on Friday, May 30th. The stock was sold at an average price of $160.80, for a total value of $5,018,568.00. Following the sale, the chief executive officer now directly owns 193,624 shares of the company’s stock, valued at approximately $31,134,739.20. This trade represents a 13.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.

Hershey 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.