Arnhold LLC Takes Position in The Hershey Company (NYSE:HSY)

Arnhold LLC acquired a new position in shares of The Hershey Company (NYSE:HSY) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,279 shares of the company’s stock, valued at approximately $1,357,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Costello Asset Management INC bought a new position in Hershey in the 3rd quarter worth approximately $25,000. BKM Wealth Management LLC bought a new position in Hershey in the fourth quarter valued at about $26,000. First Financial Corp IN acquired a new stake in Hershey in the fourth quarter worth about $29,000. Highlander Capital Management LLC raised its holdings in Hershey by 125.3% during the 4th quarter. Highlander Capital Management LLC now owns 169 shares of the company’s stock worth $32,000 after purchasing an additional 94 shares during the last quarter. Finally, Rakuten Securities Inc. acquired a new position in Hershey during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Hershey from $185.00 to $193.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Edward Jones reaffirmed a “hold” rating on shares of Hershey in a research note on Friday, April 19th. Citigroup reduced their price objective on shares of Hershey from $213.00 to $199.00 and set a “neutral” rating on the stock in a research note on Thursday, April 11th. Stifel Nicolaus upped their target price on shares of Hershey from $195.00 to $205.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Finally, Barclays boosted their price target on shares of Hershey from $200.00 to $210.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $212.78.

Hershey Price Performance

Hershey stock traded up $1.45 during mid-day trading on Tuesday, reaching $193.92. 3,132,628 shares of the company were exchanged, compared to its average volume of 1,972,461. The firm has a market cap of $39.55 billion, a PE ratio of 21.43, a PEG ratio of 2.86 and a beta of 0.34. The Hershey Company has a 12 month low of $178.82 and a 12 month high of $276.88. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.97 and a quick ratio of 0.52. The company has a fifty day simple moving average of $191.77 and a 200-day simple moving average of $190.66.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, February 8th. The company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.07. Hershey had a net margin of 16.67% and a return on equity of 51.79%. The firm had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same period in the prior year, the company posted $2.02 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities research analysts expect that The Hershey Company will post 9.6 earnings per share for the current fiscal year.

Hershey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 20th were given a dividend of $1.37 per share. This is an increase from Hershey’s previous quarterly dividend of $1.19. This represents a $5.48 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Friday, February 16th. Hershey’s dividend payout ratio is currently 60.55%.

Insiders Place Their Bets

In related news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $185.83, for a total transaction of $278,745.00. Following the sale, the chief financial officer now directly owns 38,728 shares of the company’s stock, valued at approximately $7,196,824.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Jennifer Mccalman sold 453 shares of Hershey stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $198.54, for a total transaction of $89,938.62. Following the sale, the chief accounting officer now directly owns 1,862 shares of the company’s stock, valued at $369,681.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $185.83, for a total transaction of $278,745.00. Following the completion of the transaction, the chief financial officer now owns 38,728 shares of the company’s stock, valued at approximately $7,196,824.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,453 shares of company stock valued at $665,534. 0.29% of the stock is currently owned by corporate insiders.

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.