Independence Bank of Kentucky Has $82,000 Stock Position in The Hershey Company (NYSE:HSY)

Independence Bank of Kentucky lifted its holdings in shares of The Hershey Company (NYSE:HSYFree Report) by 17.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 440 shares of the company’s stock after buying an additional 65 shares during the period. Independence Bank of Kentucky’s holdings in Hershey were worth $82,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in Hershey by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 14,911,173 shares of the company’s stock worth $2,983,427,000 after acquiring an additional 222,960 shares during the last quarter. State Street Corp grew its position in Hershey by 1.6% during the 2nd quarter. State Street Corp now owns 7,144,337 shares of the company’s stock worth $1,783,941,000 after acquiring an additional 111,357 shares during the last quarter. Geode Capital Management LLC grew its position in Hershey by 9.1% during the 1st quarter. Geode Capital Management LLC now owns 3,489,322 shares of the company’s stock worth $886,746,000 after acquiring an additional 290,920 shares during the last quarter. Morgan Stanley grew its position in Hershey by 57.2% during the 4th quarter. Morgan Stanley now owns 2,648,666 shares of the company’s stock worth $613,352,000 after acquiring an additional 964,019 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in Hershey by 143.7% during the 3rd quarter. Nordea Investment Management AB now owns 2,465,403 shares of the company’s stock worth $496,039,000 after acquiring an additional 1,453,819 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus boosted their price objective on Hershey from $195.00 to $205.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $213.00 price target on shares of Hershey in a research report on Friday, March 15th. Wells Fargo & Company upped their price target on Hershey from $190.00 to $210.00 and gave the company an “equal weight” rating in a research report on Friday, February 9th. Bank of America lowered Hershey from a “buy” rating to a “neutral” rating and reduced their price target for the company from $250.00 to $200.00 in a research report on Friday, December 15th. Finally, Barclays upped their price target on Hershey from $200.00 to $210.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $225.48.

Get Our Latest Research Report on HSY

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $197.90, for a total transaction of $296,850.00. Following the transaction, the chief financial officer now directly owns 40,228 shares of the company’s stock, valued at approximately $7,961,121.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $197.90, for a total transaction of $296,850.00. Following the transaction, the chief financial officer now directly owns 40,228 shares of the company’s stock, valued at approximately $7,961,121.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Charles R. Raup sold 2,065 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $191.85, for a total value of $396,170.25. Following the transaction, the insider now directly owns 14,770 shares in the company, valued at $2,833,624.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,518 shares of company stock valued at $1,066,414. 0.34% of the stock is owned by company insiders.

Hershey Stock Down 2.9 %

Shares of NYSE:HSY opened at $194.83 on Thursday. The company has a market capitalization of $39.74 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 3.08 and a beta of 0.34. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.97 and a quick ratio of 0.52. The business’s 50-day moving average is $193.77 and its 200-day moving average is $192.28. The Hershey Company has a 1 year low of $178.82 and a 1 year high of $276.88.

Hershey (NYSE:HSYGet Free Report) last posted its quarterly earnings results on Thursday, February 8th. The company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.07. Hershey had a return on equity of 51.79% and a net margin of 16.67%. The business had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same period in the prior year, the business earned $2.02 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts predict that The Hershey Company will post 9.59 earnings per share for the current year.

Hershey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 20th were paid a dividend of $1.37 per share. This is an increase from Hershey’s previous quarterly dividend of $1.19. This represents a $5.48 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Friday, February 16th. Hershey’s dividend payout ratio is 60.55%.

Hershey Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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