Hershey Company (The) $HSY Shares Acquired by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd grew its holdings in Hershey Company (The) (NYSE:HSY) by 82.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 26,600 shares of the company’s stock after buying an additional 12,000 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Hershey were worth $4,841,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. JPL Wealth Management LLC acquired a new stake in Hershey in the third quarter worth about $26,000. Laurel Wealth Advisors LLC acquired a new stake in Hershey in the fourth quarter worth about $27,000. Manchester Capital Management LLC boosted its holdings in Hershey by 123.0% in the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the company’s stock worth $30,000 after acquiring an additional 91 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in Hershey in the third quarter worth about $35,000. Finally, Atlantic Edge Private Wealth Management LLC acquired a new stake in Hershey in the fourth quarter worth about $42,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Trading Up 2.7%

Shares of NYSE:HSY opened at $181.34 on Friday. The business has a 50-day moving average price of $191.80 and a 200-day moving average price of $198.72. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The stock has a market cap of $36.78 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 1.06 and a beta of 0.09. Hershey Company has a 52-week low of $160.07 and a 52-week high of $239.48.

Hershey (NYSE:HSY) last announced its quarterly earnings results on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.31. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.03 billion. Hershey had a return on equity of 28.98% and a net margin of 9.12%.Hershey’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the business earned $2.09 earnings per share. Equities analysts predict that Hershey Company will post 8.45 EPS for the current year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be given a dividend of $1.452 per share. This represents a $5.81 annualized dividend and a yield of 3.2%. The ex-dividend date is Friday, May 15th. Hershey’s dividend payout ratio (DPR) is currently 108.19%.

Wall Street Analysts Forecast Growth

HSY has been the subject of several recent analyst reports. Stifel Nicolaus lowered their price target on Hershey from $230.00 to $215.00 and set a “hold” rating for the company in a report on Tuesday, April 21st. Piper Sandler restated an “overweight” rating and issued a $249.00 price objective on shares of Hershey in a research note on Wednesday, February 25th. TD Cowen upgraded Hershey from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research note on Friday, May 1st. BTIG Research initiated coverage on Hershey in a research note on Monday, April 13th. They issued a “neutral” rating for the company. Finally, The Goldman Sachs Group set a $240.00 price objective on Hershey in a research note on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $218.06.

Insiders Place Their Bets

In related news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $194.10, for a total transaction of $291,150.00. Following the completion of the transaction, the chief financial officer directly owned 57,695 shares in the company, valued at approximately $11,198,599.50. This trade represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.08% of the company’s stock.

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.