DJE Kapital AG Purchases New Shares in Hershey Company (The) $HSY

DJE Kapital AG acquired a new stake in Hershey Company (The) (NYSE:HSY) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 150,640 shares of the company’s stock, valued at approximately $32,228,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of HSY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Hershey by 6.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,310 shares of the company’s stock worth $2,618,000 after buying an additional 937 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Hershey by 20.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the company’s stock valued at $116,000 after acquiring an additional 117 shares in the last quarter. Gamco Investors INC. ET AL bought a new position in shares of Hershey in the second quarter worth about $267,000. Bank of Nova Scotia raised its stake in shares of Hershey by 4.5% in the second quarter. Bank of Nova Scotia now owns 17,927 shares of the company’s stock worth $2,975,000 after acquiring an additional 769 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Hershey by 5.4% during the second quarter. Daiwa Securities Group Inc. now owns 22,247 shares of the company’s stock worth $3,692,000 after purchasing an additional 1,149 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

HSY has been the subject of a number of research reports. Wells Fargo & Company lowered their price target on shares of Hershey from $220.00 to $200.00 and set an “equal weight” rating for the company in a report on Friday, May 1st. Piper Sandler reduced their price objective on Hershey from $249.00 to $200.00 and set an “overweight” rating on the stock in a report on Thursday, July 9th. Morgan Stanley decreased their price objective on Hershey from $247.00 to $227.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Barclays lowered their target price on Hershey from $225.00 to $220.00 and set an “equal weight” rating for the company in a research note on Monday, May 4th. Finally, TD Cowen upgraded Hershey from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research report on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $212.56.

Hershey Stock Up 0.0%

Shares of NYSE:HSY opened at $171.48 on Tuesday. Hershey Company has a one year low of $161.43 and a one year high of $239.48. The company has a 50 day moving average of $181.85 and a 200-day moving average of $197.16. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 0.77. The stock has a market cap of $34.78 billion, a price-to-earnings ratio of 31.93, a P/E/G ratio of 1.03 and a beta of 0.11.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.31. Hershey had a net margin of 9.12% and a return on equity of 28.98%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the previous year, the firm posted $2.09 earnings per share. Hershey’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, sell-side analysts forecast that Hershey Company will post 8.42 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were given a dividend of $1.452 per share. The ex-dividend date was Friday, May 15th. This represents a $5.81 annualized dividend and a dividend yield of 3.4%. Hershey’s payout ratio is presently 108.19%.

Insider Activity at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $173.43, for a total value of $260,145.00. Following the transaction, the chief financial officer owned 54,695 shares of the company’s stock, valued at $9,485,753.85. This represents a 2.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.08% of the company’s stock.

Hershey Company Profile

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.