Public Sector Pension Investment Board Buys 1,524 Shares of Hershey Company (The) $HSY

Public Sector Pension Investment Board grew its holdings in shares of Hershey Company (The) (NYSE:HSY) by 8.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,046 shares of the company’s stock after purchasing an additional 1,524 shares during the period. Public Sector Pension Investment Board’s holdings in Hershey were worth $3,428,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Trust Co. of Vermont grew its position in shares of Hershey by 2.4% during the 1st quarter. Trust Co. of Vermont now owns 2,691 shares of the company’s stock worth $460,000 after purchasing an additional 62 shares in the last quarter. Ignite Planners LLC grew its position in shares of Hershey by 5.2% during the 1st quarter. Ignite Planners LLC now owns 1,278 shares of the company’s stock worth $214,000 after purchasing an additional 63 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. grew its position in shares of Hershey by 0.9% during the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 7,248 shares of the company’s stock worth $1,229,000 after purchasing an additional 66 shares in the last quarter. Allworth Financial LP grew its position in shares of Hershey by 0.9% during the 1st quarter. Allworth Financial LP now owns 7,189 shares of the company’s stock worth $1,179,000 after purchasing an additional 67 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC grew its position in shares of Hershey by 2.6% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,768 shares of the company’s stock worth $473,000 after purchasing an additional 69 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Insider Activity at Hershey

In other news, insider Rohit Grover sold 1,334 shares of Hershey stock in a transaction on Monday, July 21st. The shares were sold at an average price of $180.00, for a total transaction of $240,120.00. Following the transaction, the insider owned 38,068 shares in the company, valued at approximately $6,852,240. The trade was a 3.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jennifer Mccalman sold 974 shares of Hershey stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total transaction of $153,025.14. Following the transaction, the chief accounting officer owned 2,994 shares in the company, valued at approximately $470,387.34. This trade represents a 24.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 118,311 shares of company stock valued at $20,931,348 in the last quarter. Insiders own 0.28% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of Hershey from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Wells Fargo & Company increased their price target on shares of Hershey from $135.00 to $154.00 and gave the stock an “underweight” rating in a research report on Thursday, July 31st. Royal Bank Of Canada reduced their price target on shares of Hershey from $178.00 to $175.00 and set a “sector perform” rating on the stock in a research report on Friday, May 2nd. Bank of America increased their price target on shares of Hershey from $175.00 to $208.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Finally, DA Davidson increased their price target on shares of Hershey from $171.00 to $188.00 and gave the stock a “neutral” rating in a research report on Monday, August 4th. Four research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $168.83.

Hershey Stock Performance

Shares of Hershey stock opened at $178.51 on Tuesday. Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $208.03. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.53 and a quick ratio of 0.89. The firm has a market capitalization of $36.19 billion, a P/E ratio of 23.71, a P/E/G ratio of 4.29 and a beta of 0.27. The company’s 50 day moving average price is $175.36 and its two-hundred day moving average price is $168.70.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.23. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.50 billion. Hershey had a net margin of 13.54% and a return on equity of 37.36%. Hershey’s revenue was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.27 earnings per share. On average, equities analysts forecast that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Friday, August 15th. Hershey’s payout ratio is 72.78%.

About Hershey

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.