Securian Asset Management Inc Cuts Stock Position in The Hershey Company (NYSE:HSY)

Securian Asset Management Inc cut its holdings in shares of The Hershey Company (NYSE:HSY) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,476 shares of the company’s stock after selling 100 shares during the period. Securian Asset Management Inc’s holdings in The Hershey were worth $2,173,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of HSY. Nordea Investment Management AB increased its stake in The Hershey by 114.5% during the first quarter. Nordea Investment Management AB now owns 1,106,753 shares of the company’s stock worth $174,878,000 after purchasing an additional 590,867 shares during the period. Acadian Asset Management LLC increased its stake in 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 during the period. Alyeska Investment Group L.P. purchased a new stake in The Hershey during the first quarter worth about $49,608,000. Arrowstreet Capital Limited Partnership increased its stake in The Hershey by 270.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 413,296 shares of the company’s stock worth $65,367,000 after purchasing an additional 301,702 shares during the period. Finally, Royal Bank of Canada increased its stake in The Hershey by 52.3% during the first quarter. Royal Bank of Canada now owns 842,375 shares of the company’s stock worth $133,231,000 after purchasing an additional 289,378 shares during the period. Institutional investors own 52.34% of the company’s stock.

Shares of NYSE HSY opened at $174.55 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 0.73 and a debt-to-equity ratio of 1.80. The Hershey Company has a twelve month low of $134.00 and a twelve month high of $182.71. The stock has a 50 day moving average of $177.85 and a two-hundred day moving average of $169.43. The stock has a market cap of $35.96 billion, a P/E ratio of 25.37, a P/E/G ratio of 3.30 and a beta of 0.36.

The Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, July 29th. The company reported $1.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.05. The Hershey had a return on equity of 63.62% and a net margin of 16.52%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.85 billion. As a group, research analysts predict that The Hershey Company will post 6.92 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 15th. Shareholders of record on Friday, August 20th will be paid a $0.901 dividend. The ex-dividend date of this dividend is Thursday, August 19th. This represents a $3.60 dividend on an annualized basis and a yield of 2.06%. This is a boost from The Hershey’s previous quarterly dividend of $0.80. The Hershey’s payout ratio is currently 57.23%.

A number of brokerages have recently commented on HSY. Deutsche Bank Aktiengesellschaft boosted their price objective on The Hershey from $166.00 to $173.00 and gave the stock a “hold” rating in a research report on Thursday, July 22nd. Royal Bank of Canada boosted their price objective on The Hershey from $188.00 to $189.00 and gave the stock an “outperform” rating in a research report on Friday, July 30th. Piper Sandler boosted their price objective on The Hershey from $182.00 to $194.00 and gave the stock an “overweight” rating in a research report on Friday, July 30th. BMO Capital Markets boosted their price objective on The Hershey from $175.00 to $181.00 and gave the stock an “outperform” rating in a research report on Friday, July 30th. Finally, Credit Suisse Group boosted their price objective on The Hershey from $180.00 to $194.00 and gave the stock an “outperform” rating in a research report on Friday, July 30th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $175.38.

In other The Hershey news, Director Pamela M. Arway sold 319 shares of the company’s stock in a transaction on Thursday, July 8th. The stock was sold at an average price of $175.88, for a total value of $56,105.72. Following the sale, the director now owns 15,861 shares of the company’s stock, valued at $2,789,632.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Kristen J. Riggs sold 1,760 shares of the company’s stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $175.42, for a total value of $308,739.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,079 shares of company stock valued at $2,674,010. 0.32% of the stock is owned by company insiders.

The Hershey Company Profile

The Hershey Co engages in the manufacture and market of chocolate and sugar confectionery products. The firm operates through the following geographical segments: North America; and International and Other. The North America segment is responsible for the traditional chocolate and non-chocolate confectionery market position of the company, as well as its grocery and snacks market positions, in the United States and Canada.

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Institutional Ownership by Quarter for The Hershey (NYSE:HSY)

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