Empowered Funds LLC Increases Position in The Hershey Company (NYSE:HSY)

Empowered Funds LLC lifted its stake in shares of The Hershey Company (NYSE:HSY) by 42.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,972 shares of the company’s stock after purchasing an additional 11,053 shares during the period. Empowered Funds LLC’s holdings in Hershey were worth $6,261,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. International Assets Investment Management LLC boosted its stake in Hershey by 30,461.7% during the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock worth $1,100,130,000 after buying an additional 571,766 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after acquiring an additional 389,404 shares during the last quarter. State Street Corp grew its holdings in shares of Hershey by 5.8% in the third quarter. State Street Corp now owns 7,029,551 shares of the company’s stock valued at $1,348,127,000 after purchasing an additional 386,670 shares during the period. Massachusetts Financial Services Co. MA increased its position in Hershey by 31.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company’s stock worth $112,491,000 after purchasing an additional 139,831 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Hershey by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock worth $841,476,000 after purchasing an additional 109,336 shares during the period. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HSY has been the subject of several analyst reports. DA Davidson dropped their price target on shares of Hershey from $164.00 to $149.00 and set a “neutral” rating for the company in a research note on Monday. Deutsche Bank Aktiengesellschaft cut their target price on Hershey from $184.00 to $148.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Citigroup raised Hershey from a “sell” rating to a “neutral” rating and decreased their price target for the company from $159.00 to $154.00 in a research note on Friday. Wells Fargo & Company cut their price objective on Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. Finally, Bernstein Bank decreased their target price on shares of Hershey from $177.00 to $146.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Six equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $165.05.

Insider Buying and Selling at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $148.00, for a total value of $41,144.00. Following the transaction, the chief accounting officer now owns 2,682 shares in the company, valued at approximately $396,936. This represents a 9.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is owned by insiders.

Hershey Price Performance

HSY stock opened at $154.52 on Tuesday. The business’s 50-day moving average is $164.38 and its two-hundred day moving average is $180.38. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.54. The firm has a market capitalization of $31.27 billion, a P/E ratio of 14.18, a P/E/G ratio of 4.89 and a beta of 0.37. The Hershey Company has a 1 year low of $140.13 and a 1 year high of $211.92.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, beating 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%. Analysts anticipate that The Hershey Company will post 6.77 earnings per share for the current fiscal year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 17th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.55%. The ex-dividend date is Friday, February 14th. Hershey’s dividend payout ratio (DPR) is presently 50.28%.

Hershey Profile

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.