Man Group plc Reduces Position in Hershey Co (NYSE:HSY)

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Man Group plc decreased its stake in shares of Hershey Co (NYSE:HSY) by 10.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 330,705 shares of the company’s stock after selling 40,416 shares during the period. Man Group plc owned 0.16% of Hershey worth $48,607,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in HSY. Rodgers Brothers Inc. boosted its holdings in shares of Hershey by 0.5% during the fourth quarter. Rodgers Brothers Inc. now owns 11,935 shares of the company’s stock worth $1,754,000 after purchasing an additional 63 shares during the last quarter. Coho Partners Ltd. boosted its holdings in shares of Hershey by 2.8% during the fourth quarter. Coho Partners Ltd. now owns 2,688 shares of the company’s stock worth $395,000 after purchasing an additional 73 shares during the last quarter. STA Wealth Management LLC boosted its holdings in shares of Hershey by 3.0% during the fourth quarter. STA Wealth Management LLC now owns 3,100 shares of the company’s stock worth $456,000 after purchasing an additional 91 shares during the last quarter. State of Michigan Retirement System boosted its holdings in shares of Hershey by 0.3% during the fourth quarter. State of Michigan Retirement System now owns 35,882 shares of the company’s stock worth $5,274,000 after purchasing an additional 100 shares during the last quarter. Finally, Utah Retirement Systems boosted its holdings in shares of Hershey by 0.4% during the fourth quarter. Utah Retirement Systems now owns 27,537 shares of the company’s stock worth $4,048,000 after purchasing an additional 100 shares during the last quarter. 53.13% of the stock is owned by institutional investors.

In other news, Director Pamela M. Arway sold 371 shares of Hershey stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $145.48, for a total transaction of $53,973.08. Following the sale, the director now directly owns 15,986 shares of the company’s stock, valued at $2,325,643.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michele Buck sold 1,500 shares of Hershey stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $146.83, for a total value of $220,245.00. Following the sale, the chief executive officer now directly owns 149,429 shares in the company, valued at $21,940,660.07. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,104 shares of company stock worth $3,548,402. Corporate insiders own 0.41% of the company’s stock.

A number of brokerages recently weighed in on HSY. Bank of America lifted their target price on Hershey from $155.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Evercore ISI reiterated a “hold” rating and issued a $150.00 target price on shares of Hershey in a report on Friday, January 31st. JPMorgan Chase & Co. reduced their target price on Hershey from $152.00 to $138.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Barclays reiterated a “hold” rating on shares of Hershey in a report on Sunday, February 2nd. Finally, Zacks Investment Research upgraded Hershey from a “sell” rating to a “hold” rating and set a $154.00 target price on the stock in a report on Friday, December 27th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. Hershey has a consensus rating of “Hold” and a consensus target price of $146.00.

NYSE:HSY opened at $121.92 on Wednesday. The business’s 50-day moving average is $148.90 and its two-hundred day moving average is $149.48. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.05 and a quick ratio of 0.65. Hershey Co has a 12 month low of $109.88 and a 12 month high of $162.20. The firm has a market capitalization of $23.37 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 2.38 and a beta of 0.11.

Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, January 30th. The company reported $1.28 EPS for the quarter, beating the consensus estimate of $1.24 by $0.04. Hershey had a return on equity of 73.68% and a net margin of 14.40%. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period last year, the company posted $1.26 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. Equities analysts anticipate that Hershey Co will post 6.1 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 21st were given a dividend of $0.773 per share. This represents a $3.09 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date was Thursday, February 20th. Hershey’s payout ratio is 53.46%.

About Hershey

The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through 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.

Further Reading: Monthly Dividend Stocks

Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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