Azimuth Capital Investment Management LLC Acquires 3,505 Shares of The Hershey Company (NYSE:HSY)

Azimuth Capital Investment Management LLC boosted its holdings in The Hershey Company (NYSE:HSY) by 24.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,860 shares of the company’s stock after acquiring an additional 3,505 shares during the quarter. Azimuth Capital Investment Management LLC’s holdings in Hershey were worth $3,025,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Crowley Wealth Management Inc. purchased a new stake in Hershey in the fourth quarter valued at approximately $28,000. Grove Bank & Trust raised its position in shares of Hershey by 248.0% during the 4th quarter. Grove Bank & Trust now owns 174 shares of the company’s stock valued at $29,000 after buying an additional 124 shares in the last quarter. Vision Financial Markets LLC purchased a new position in Hershey in the fourth quarter worth $29,000. Lee Danner & Bass Inc. bought a new position in Hershey in the fourth quarter valued at $34,000. Finally, ST Germain D J Co. Inc. raised its position in Hershey by 61.7% during the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock valued at $44,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

Shares of NYSE HSY opened at $164.29 on Thursday. The Hershey Company has a 1 year low of $140.13 and a 1 year high of $211.92. The stock has a market capitalization of $33.25 billion, a P/E ratio of 15.07, a P/E/G ratio of 5.90 and a beta of 0.28. The company’s 50-day moving average is $166.65 and its 200 day moving average is $171.67. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64.

Hershey (NYSE:HSY) last posted its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. On average, sell-side analysts expect that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend was Friday, February 14th. Hershey’s dividend payout ratio is presently 50.28%.

Analyst Ratings Changes

HSY has been the subject of a number of research reports. Morgan Stanley started coverage on Hershey in a report on Monday, March 24th. They issued an “equal weight” rating and a $183.00 price objective for the company. Piper Sandler cut shares of Hershey from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $153.00 to $120.00 in a research report on Friday, January 31st. Wells Fargo & Company boosted their price objective on shares of Hershey from $125.00 to $132.00 and gave the stock an “underweight” rating in a report on Friday, March 14th. Stifel Nicolaus reduced their target price on shares of Hershey from $170.00 to $160.00 and set a “hold” rating on the stock in a report on Friday, February 7th. Finally, Jefferies Financial Group lowered their price target on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a research note on Tuesday, January 21st. Five equities research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $162.50.

Insider Buying and Selling

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is owned by company insiders.

Hershey Company 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.