Bridges Investment Management Inc. Lowers Stake in Hershey Company (The) $HSY

Bridges Investment Management Inc. lowered its stake in shares of Hershey Company (The) (NYSE:HSY) by 5.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 62,279 shares of the company’s stock after selling 3,319 shares during the period. Bridges Investment Management Inc.’s holdings in Hershey were worth $11,333,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. JPL Wealth Management LLC purchased a new position in shares of Hershey during the 3rd quarter worth approximately $26,000. Laurel Wealth Advisors LLC purchased a new stake in Hershey during the 4th quarter worth approximately $27,000. Measured Wealth Private Client Group LLC purchased a new stake in Hershey during the 3rd quarter worth approximately $35,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in Hershey during the 4th quarter worth approximately $42,000. Finally, Close Asset Management Ltd lifted its stake in Hershey by 339.3% in the third quarter. Close Asset Management Ltd now owns 246 shares of the company’s stock worth $46,000 after acquiring an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Performance

Shares of Hershey stock opened at $184.12 on Wednesday. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. Hershey Company has a 52 week low of $158.67 and a 52 week high of $239.48. The firm’s 50 day moving average is $196.96 and its two-hundred day moving average is $198.76. The firm has a market capitalization of $37.35 billion, a P/E ratio of 34.29, a P/E/G ratio of 1.12 and a beta of 0.09.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.31. Hershey had a return on equity of 28.98% and a net margin of 9.12%.The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter in the previous year, the business earned $2.09 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Research analysts forecast that Hershey Company will post 8.45 EPS for the current fiscal year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be paid a $1.452 dividend. The ex-dividend date is Friday, May 15th. This represents a $5.81 dividend on an annualized basis and a yield of 3.2%. Hershey’s payout ratio is currently 108.19%.

Insiders Place Their Bets

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $194.10, for a total value of $291,150.00. Following the completion of the sale, the chief financial officer owned 57,695 shares in the company, valued at approximately $11,198,599.50. The trade was a 2.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

HSY has been the subject of a number of recent research reports. TD Cowen upgraded shares of Hershey from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a research note on Friday, May 1st. Zacks Research downgraded shares of Hershey from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Hershey from $212.00 to $200.00 and set a “hold” rating for the company in a research note on Monday, March 30th. BTIG Research initiated coverage on shares of Hershey in a research note on Monday, April 13th. They issued a “neutral” rating for the company. Finally, The Goldman Sachs Group set a $240.00 price target on shares of Hershey in a research note on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $218.06.

About Hershey

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.