Voloridge Investment Management LLC boosted its holdings in shares of The Hershey Company (NYSE:HSY) by 135.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 235,558 shares of the company’s stock after purchasing an additional 135,398 shares during the period. Voloridge Investment Management LLC’s holdings in The Hershey were worth $37,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently modified their holdings of HSY. Norges Bank purchased a new position in shares of The Hershey during the 4th quarter valued at approximately $220,190,000. Victory Capital Management Inc. lifted its holdings in The Hershey by 45.5% during the first quarter. Victory Capital Management Inc. now owns 2,371,594 shares of the company’s stock valued at $375,091,000 after purchasing an additional 741,318 shares in the last quarter. Nordea Investment Management AB grew its position in shares of The Hershey by 114.5% in the first quarter. Nordea Investment Management AB now owns 1,106,753 shares of the company’s stock valued at $174,878,000 after purchasing an additional 590,867 shares during the period. Acadian Asset Management LLC increased its stake in shares of The Hershey by 399.6% during the first quarter. Acadian Asset Management LLC now owns 648,361 shares of the company’s stock worth $102,547,000 after purchasing an additional 518,579 shares in the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of The Hershey by 398.6% during the 4th quarter. Los Angeles Capital Management LLC now owns 402,202 shares of the company’s stock worth $61,267,000 after purchasing an additional 321,535 shares during the last quarter. 52.14% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have issued reports on HSY shares. Deutsche Bank Aktiengesellschaft lifted their target price on shares of The Hershey from $166.00 to $173.00 and gave the stock a “hold” rating in a research note on Thursday. Citigroup raised their target price on The Hershey from $172.00 to $187.00 in a research note on Monday, May 3rd. Morgan Stanley boosted their target price on shares of The Hershey from $152.00 to $166.00 and gave the company an “equal weight” rating in a report on Friday, April 30th. Finally, The Goldman Sachs Group raised The Hershey from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $171.00 to $181.00 in a research report on Thursday, April 15th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $166.07.
The Hershey (NYSE:HSY) last issued its earnings results on Thursday, April 29th. The company reported $1.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.80 by $0.12. The Hershey had a net margin of 16.69% and a return on equity of 66.00%. The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter in the prior year, the business posted $1.63 EPS. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, analysts anticipate that The Hershey Company will post 6.88 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 15th. Stockholders of record on Friday, May 21st were given a dividend of $0.804 per share. This represents a $3.22 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date was Thursday, May 20th. The Hershey’s dividend payout ratio (DPR) is currently 51.19%.
In related news, CAO Jennifer Mccalman sold 377 shares of the business’s stock in a transaction dated Tuesday, June 1st. The stock was sold at an average price of $173.66, for a total value of $65,469.82. Following the transaction, the chief accounting officer now owns 1,818 shares in the company, valued at approximately $315,713.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pamela M. Arway sold 319 shares of the company’s stock in a transaction that occurred on Thursday, July 8th. The shares were sold at an average price of $175.88, for a total value of $56,105.72. Following the sale, the director now directly owns 15,861 shares of the company’s stock, valued at $2,789,632.68. The disclosure for this sale can be found here. Insiders sold a total of 19,796 shares of company stock valued at $3,399,245 over the last three months. Company insiders own 0.32% of the company’s stock.
About The Hershey
The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products and pantry items. The company operates in two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.
Featured Story: Calculating net profit and net profit margin ratio
Want to see what other hedge funds are holding HSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hershey Company (NYSE:HSY).
Receive News & Ratings for The Hershey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Hershey and related companies with MarketBeat.com's FREE daily email newsletter.