Davis R M Inc. Has $5.79 Million Stake in Hershey Company (The) (NYSE:HSY)

Davis R M Inc. lessened its holdings in shares of Hershey Company (The) (NYSE:HSY) by 44.7% during the first quarter, HoldingsChannel.com reports. The firm owned 33,872 shares of the company’s stock after selling 27,337 shares during the quarter. Davis R M Inc.’s holdings in Hershey were worth $5,793,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Capital International Investors boosted its stake in shares of Hershey by 31.4% in 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 during the period. Geode Capital Management LLC lifted its position in shares of Hershey by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 3,801,145 shares of the company’s stock valued at $642,139,000 after acquiring an additional 47,394 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Hershey by 38.6% during the 4th 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 in the last quarter. Northern Trust Corp grew its holdings in shares of Hershey by 10.8% during the 4th 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 in the last quarter. Finally, Invesco Ltd. increased its position in shares of Hershey by 7.3% in the fourth quarter. Invesco Ltd. now owns 1,282,681 shares of the company’s stock worth $217,222,000 after purchasing an additional 87,498 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Stock Performance

Shares of HSY stock opened at $188.79 on Thursday. The firm has a market capitalization of $38.25 billion, a price-to-earnings ratio of 23.28, a PEG ratio of 4.61 and a beta of 0.30. The company has a current ratio of 1.59, a quick ratio of 1.11 and a debt-to-equity ratio of 1.11. The business’s 50-day moving average price is $169.28 and its 200-day moving average price is $165.68. Hershey Company has a 12 month low of $140.13 and a 12 month high of $208.03.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.23. Hershey had a net margin of 15.32% and a return on equity of 38.70%. The company had revenue of $2.61 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the firm posted $1.27 earnings per share. Hershey’s revenue for the quarter was up 26.0% on a year-over-year basis. Equities research analysts forecast that Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 2.90%. Hershey’s payout ratio is presently 67.57%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on HSY shares. UBS Group cut their price objective on shares of Hershey from $175.00 to $170.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Citigroup cut their price target on shares of Hershey from $173.00 to $165.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Morgan Stanley decreased their price objective on shares of Hershey from $183.00 to $177.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Wall Street Zen downgraded shares of Hershey from a “hold” rating to a “sell” rating in a research report on Sunday, July 6th. Finally, Barclays raised their target price on Hershey from $160.00 to $165.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Six analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $161.74.

Insider Buying and Selling at Hershey

In other news, insider Rohit Grover sold 1,334 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $180.00, for a total transaction of $240,120.00. Following the completion of the sale, the insider directly owned 38,068 shares in the company, valued at $6,852,240. This represents a 3.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP James Turoff sold 1,300 shares of Hershey stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $175.00, for a total transaction of $227,500.00. Following the transaction, the senior vice president directly owned 25,321 shares of the company’s stock, valued at $4,431,175. This represents a 4.88% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 99,021 shares of company stock worth $17,189,088. Company insiders own 0.34% 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.