Teacher Retirement System of Texas Makes New Investment in The Hershey Company (NYSE:HSY)

Teacher Retirement System of Texas bought a new position in The Hershey Company (NYSE:HSY) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 8,711 shares of the company’s stock, valued at approximately $1,475,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in HSY. Raymond James Financial Inc. bought a new position in Hershey in the fourth quarter worth $80,978,000. Principal Financial Group Inc. increased its stake in shares of Hershey by 66.7% in the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after acquiring an additional 389,404 shares in the last quarter. State Street Corp lifted its position in Hershey by 5.8% during the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock valued at $1,348,127,000 after acquiring an additional 386,670 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Hershey by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company’s stock worth $785,003,000 after acquiring an additional 247,675 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Hershey in the fourth quarter worth about $18,273,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

Shares of NYSE:HSY opened at $169.87 on Friday. 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 stock has a market capitalization of $34.38 billion, a PE ratio of 15.58, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32. The firm’s 50 day moving average price is $164.03 and its 200-day moving average price is $174.04. The Hershey Company has a twelve month low of $140.13 and a twelve month high of $211.92.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. Equities research analysts expect that The Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.23%. The ex-dividend date was Friday, February 14th. Hershey’s dividend payout ratio is presently 50.28%.

Insiders Place Their Bets

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,682 shares in the company, valued at $396,936. This represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on HSY. Mizuho lowered their target price on shares of Hershey from $170.00 to $140.00 in a report on Wednesday, February 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $178.00 target price on shares of Hershey in a report on Monday, February 3rd. Morgan Stanley assumed coverage on Hershey in a report on Monday, March 24th. They set an “equal weight” rating and a $183.00 price target for the company. Barclays dropped their price target on shares of Hershey from $170.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. Finally, TD Cowen reduced their price objective on shares of Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Five investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. According to data from MarketBeat, Hershey has an average rating of “Hold” and a consensus price target of $162.50.

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.