Tokio Marine Asset Management Co. Ltd. Raises Holdings in Hershey Company (The) (HSY)

Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Hershey Company (The) (NYSE:HSY) by 321.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,946 shares of the company’s stock after purchasing an additional 10,635 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Hershey Company (The) were worth $1,522,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Westpac Banking Corp lifted its holdings in Hershey Company (The) by 24.0% during the 3rd quarter. Westpac Banking Corp now owns 10,646 shares of the company’s stock valued at $1,162,000 after purchasing an additional 2,061 shares during the last quarter. E&G Advisors LP bought a new position in Hershey Company (The) during the 3rd quarter valued at about $218,000. Victory Capital Management Inc. raised its stake in shares of Hershey Company (The) by 132.7% in the third quarter. Victory Capital Management Inc. now owns 33,025 shares of the company’s stock worth $3,605,000 after acquiring an additional 18,830 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of Hershey Company (The) in the third quarter worth about $1,648,000. Finally, BARING ASSET MANAGEMENT Ltd raised its stake in shares of Hershey Company (The) by 342.6% in the third quarter. BARING ASSET MANAGEMENT Ltd now owns 14,836 shares of the company’s stock worth $1,619,000 after acquiring an additional 11,484 shares during the last quarter. 49.99% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP D Michael Wege sold 1,100 shares of Hershey Company (The) stock in a transaction on Monday, October 16th. The shares were sold at an average price of $110.26, for a total value of $121,286.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Hershey Trust Co Trustee In Tr sold 4,500,000 shares of Hershey Company (The) stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $106.01, for a total transaction of $477,045,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,519,232 shares of company stock valued at $479,154,674. Company insiders own 0.92% of the company’s stock.

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Shares of Hershey Company (HSY) traded up $0.83 during trading on Friday, reaching $108.60. 751,600 shares of the company’s stock were exchanged, compared to its average volume of 1,015,049. Hershey Company has a 12-month low of $95.68 and a 12-month high of $116.49. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.95 and a quick ratio of 0.55. The firm has a market capitalization of $22,881.37, a P/E ratio of 22.16, a price-to-earnings-growth ratio of 2.95 and a beta of 0.36.

Hershey Company (The) (NYSE:HSY) last posted its quarterly earnings results on Thursday, October 26th. The company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.01 billion. Hershey Company (The) had a net margin of 9.52% and a return on equity of 124.06%. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $1.29 EPS. research analysts forecast that Hershey Company will post 4.8 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 22nd will be issued a dividend of $0.656 per share. The ex-dividend date is Tuesday, November 21st. This represents a $2.62 annualized dividend and a yield of 2.42%. Hershey Company (The)’s payout ratio is 77.98%.

Hershey Company (The) declared that its board has initiated a share buyback program on Thursday, October 26th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

HSY has been the subject of a number of recent research reports. BMO Capital Markets reissued a “hold” rating and set a $105.00 price target on shares of Hershey Company (The) in a research note on Friday, October 27th. Morgan Stanley decreased their price objective on shares of Hershey Company (The) from $111.00 to $108.00 and set an “equal weight” rating for the company in a report on Tuesday, July 18th. UBS AG decreased their price objective on shares of Hershey Company (The) from $110.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, October 27th. Citigroup Inc. boosted their price objective on shares of Hershey Company (The) from $126.00 to $130.00 and gave the company a “buy” rating in a report on Friday, October 27th. Finally, Susquehanna Bancshares Inc set a $113.00 price objective on shares of Hershey Company (The) and gave the company a “hold” rating in a report on Thursday, October 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Hershey Company (The) has an average rating of “Hold” and a consensus price target of $113.35.

Hershey Company (The) Profile

The Hershey Company is a producer of chocolate in North America. The Company’s principal product offerings include chocolate and non-chocolate confectionery products; gum and mint refreshment products; pantry items, such as baking ingredients and beverages, and snack items, such as spreads, meat snacks, bars and snack bites and mixes.

Institutional Ownership by Quarter for Hershey Company (The) (NYSE:HSY)

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