The Hershey Company (NYSE:HSY) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its holdings in The Hershey Company (NYSE:HSY) by 1.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 67,934 shares of the company’s stock after purchasing an additional 710 shares during the quarter. CIBC Asset Management Inc’s holdings in Hershey were worth $11,502,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in Hershey in the third quarter valued at $25,000. Grove Bank & Trust increased its stake in Hershey by 248.0% in the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 124 shares during the period. Peterson Financial Group Inc. acquired a new position in Hershey in the third quarter valued at $46,000. ST Germain D J Co. Inc. increased its stake in shares of Hershey by 61.7% during the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock worth $44,000 after acquiring an additional 100 shares during the period. Finally, City State Bank increased its stake in shares of Hershey by 210.0% during the fourth quarter. City State Bank now owns 310 shares of the company’s stock worth $52,000 after acquiring an additional 210 shares during the period. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Stock Up 3.3 %

Shares of NYSE HSY opened at $163.08 on Wednesday. The Hershey Company has a 12-month low of $140.13 and a 12-month high of $211.92. The company has a market capitalization of $33.00 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 4.89 and a beta of 0.37. 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’s 50-day moving average is $161.78 and its two-hundred day moving average is $178.81.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) 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%. Equities analysts anticipate that The Hershey Company will post 6.77 EPS for the current fiscal year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 17th will be paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend is Friday, February 14th. Hershey’s payout ratio is 50.28%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HSY. Jefferies Financial Group dropped their price target on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 21st. Bank of America reiterated a “neutral” rating and set a $180.00 price target on shares of Hershey in a research note on Thursday, December 12th. Bernstein Bank dropped their price target on shares of Hershey from $177.00 to $146.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Citigroup upgraded shares of Hershey from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $159.00 to $154.00 in a research note on Friday, February 7th. Finally, Piper Sandler lowered shares of Hershey from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $153.00 to $120.00 in a research report on Friday, January 31st. Five research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to MarketBeat.com, Hershey currently has an average rating of “Hold” and a consensus price target of $164.15.

Insider Activity at Hershey

In related 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 transaction of $41,144.00. Following the transaction, the chief accounting officer now owns 2,682 shares of the company’s stock, valued at approximately $396,936. This represents a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.34% of the company’s stock.

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.