Generali Asset Management SPA SGR Invests $1.51 Million in The Hershey Company (NYSE:HSY)

Generali Asset Management SPA SGR purchased a new position in shares of The Hershey Company (NYSE:HSY) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,908 shares of the company’s stock, valued at approximately $1,509,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vision Financial Markets LLC acquired a new stake in shares of Hershey during the 4th quarter worth approximately $29,000. Grove Bank & Trust raised its position in shares of Hershey by 248.0% during the 4th quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 124 shares during the period. ST Germain D J Co. Inc. increased its position in Hershey by 61.7% in the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock valued at $44,000 after acquiring an additional 100 shares during the period. City State Bank increased its position in Hershey by 210.0% in the 4th quarter. City State Bank now owns 310 shares of the company’s stock valued at $52,000 after acquiring an additional 210 shares during the period. Finally, Prospera Private Wealth LLC acquired a new stake in Hershey in the 3rd quarter valued at approximately $60,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Stock Performance

Shares of Hershey stock opened at $164.33 on Friday. The stock has a market cap of $33.26 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32. The business has a fifty day simple moving average of $162.43 and a 200-day simple moving average of $175.30. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $211.92.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, topping the consensus estimate of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. On average, sell-side analysts anticipate that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were issued a dividend of $1.37 per share. The ex-dividend date was Friday, February 14th. This represents a $5.48 annualized dividend and a dividend yield of 3.33%. Hershey’s dividend payout ratio is 50.28%.

Insider Buying and Selling

In related news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction of $41,144.00. Following the completion of the sale, the chief accounting officer now directly owns 2,682 shares in the company, valued at approximately $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on HSY shares. Barclays lowered their target price on Hershey from $170.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Monday, February 10th. DA Davidson lowered their target price on Hershey from $164.00 to $149.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft lowered their target price on Hershey from $184.00 to $148.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Mizuho lowered their target price on Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. Finally, Stifel Nicolaus lowered their target price on Hershey from $170.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday, February 7th. Five equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $163.75.

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.