Hershey Company (The) $HSY Stake Increased by Maverick Capital Ltd.

Maverick Capital Ltd. increased its holdings in Hershey Company (The) (NYSE:HSY) by 122.1% in the 1st quarter, Holdings Channel reports. The fund owned 23,317 shares of the company’s stock after purchasing an additional 12,817 shares during the period. Maverick Capital Ltd.’s holdings in Hershey were worth $4,847,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of HSY. JPL Wealth Management LLC acquired a new position in shares of Hershey in the 3rd quarter valued at about $26,000. Reflection Asset Management acquired a new stake in shares of Hershey during the fourth quarter worth approximately $26,000. Bard Associates Inc. acquired a new stake in shares of Hershey during the fourth quarter worth approximately $26,000. Laurel Wealth Advisors LLC purchased a new position in Hershey during the fourth quarter valued at approximately $27,000. Finally, Manchester Capital Management LLC grew its position in Hershey by 123.0% during the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the company’s stock valued at $30,000 after purchasing an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Up 3.5%

HSY opened at $180.41 on Tuesday. The firm has a market cap of $36.59 billion, a P/E ratio of 33.60, a price-to-earnings-growth ratio of 1.09 and a beta of 0.11. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 1.24. The business has a 50 day moving average price of $180.12 and a 200 day moving average price of $196.91. Hershey Company has a twelve month low of $161.43 and a twelve month high of $239.48.

Hershey (NYSE:HSY) last announced its quarterly earnings results on Thursday, April 30th. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.04 by $0.31. Hershey had a return on equity of 28.98% and a net margin of 9.12%.The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter last year, the company posted $2.09 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Research analysts forecast that Hershey Company will post 8.42 EPS for the current year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were issued a dividend of $1.452 per share. This represents a $5.81 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, May 15th. Hershey’s dividend payout ratio is currently 108.19%.

Insider Transactions at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $173.43, for a total value of $260,145.00. Following the transaction, the chief financial officer directly owned 54,695 shares in the company, valued at approximately $9,485,753.85. This trade represents a 2.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

HSY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their target price on shares of Hershey from $204.00 to $191.00 and set a “neutral” rating for the company in a research report on Monday, July 13th. Bank of America lowered their price target on shares of Hershey from $220.00 to $200.00 and set a “neutral” rating on the stock in a report on Thursday, June 25th. Wells Fargo & Company cut their price objective on Hershey from $220.00 to $200.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Evercore set a $225.00 target price on Hershey in a research note on Thursday. Finally, Stifel Nicolaus dropped their target price on Hershey from $215.00 to $180.00 and set a “hold” rating on the stock in a research report on Wednesday, July 22nd. Seven investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Hershey has an average rating of “Hold” and an average target price of $208.28.

About Hershey

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.