CapWealth Advisors LLC Boosts Stock Holdings in The Hershey Company (NYSE:HSY)

CapWealth Advisors LLC grew its position in The Hershey Company (NYSE:HSY) by 0.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,178 shares of the company’s stock after acquiring an additional 351 shares during the quarter. CapWealth Advisors LLC’s holdings in Hershey were worth $12,288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in HSY. Norges Bank acquired a new position in Hershey during the fourth quarter worth about $349,448,000. International Assets Investment Management LLC increased its position in shares of Hershey by 18,495.8% during the 4th quarter. International Assets Investment Management LLC now owns 295,673 shares of the company’s stock worth $55,125,000 after purchasing an additional 294,083 shares during the last quarter. Vanguard Group Inc. raised its holdings in Hershey by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 15,182,809 shares of the company’s stock valued at $2,830,683,000 after buying an additional 271,636 shares during the period. Bryn Mawr Capital Management LLC raised its stake in shares of Hershey by 3,404.3% in the 1st quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock valued at $49,879,000 after acquiring an additional 249,129 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Hershey by 98.4% in the 1st quarter. Principal Financial Group Inc. now owns 419,947 shares of the company’s stock worth $81,680,000 after acquiring an additional 208,293 shares during the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Down 1.1 %

Hershey stock traded down $2.01 during midday trading on Tuesday, reaching $182.75. The company’s stock had a trading volume of 1,450,064 shares, compared to its average volume of 1,871,511. The company has a market cap of $36.96 billion, a P/E ratio of 18.11, a P/E/G ratio of 4.12 and a beta of 0.36. The company has a quick ratio of 0.64, a current ratio of 0.97 and a debt-to-equity ratio of 0.92. The business has a 50-day simple moving average of $193.53 and a 200-day simple moving average of $192.29. The Hershey Company has a fifty-two week low of $178.82 and a fifty-two week high of $248.93.

Hershey (NYSE:HSY) last issued its earnings results on Friday, May 3rd. The company reported $3.07 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.33. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.11 billion. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company earned $2.96 EPS. On average, research analysts expect that The Hershey Company will post 9.59 earnings per share for the current fiscal year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 17th were given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Thursday, May 16th. Hershey’s dividend payout ratio (DPR) is 54.31%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HSY. BNP Paribas downgraded shares of Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 target price for the company. in a report on Tuesday, March 26th. Edward Jones reiterated a “hold” rating on shares of Hershey in a report on Friday, April 19th. Barclays decreased their target price on Hershey from $210.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $213.00 target price on shares of Hershey in a research report on Friday, March 15th. Finally, Wells Fargo & Company reduced their price target on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $209.67.

Insider Buying and Selling

In other news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $204.54, for a total value of $306,810.00. Following the completion of the sale, the chief financial officer now directly owns 37,228 shares of the company’s stock, valued at approximately $7,614,615.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 4,500 shares of company stock worth $859,950 in the last ninety days. 0.29% of the stock is owned by corporate insiders.

Hershey Company 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.