Adage Capital Partners GP L.L.C. Sells 1,500 Shares of The Hershey Company (NYSE:HSY)

Adage Capital Partners GP L.L.C. decreased its position in The Hershey Company (NYSE:HSYFree Report) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 88,985 shares of the company’s stock after selling 1,500 shares during the period. Adage Capital Partners GP L.L.C.’s holdings in Hershey were worth $17,804,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Blair William & Co. IL raised its stake in shares of Hershey by 3.1% in the first quarter. Blair William & Co. IL now owns 30,767 shares of the company’s stock valued at $6,665,000 after buying an additional 916 shares during the period. Dakota Wealth Management purchased a new stake in Hershey during the first quarter valued at about $238,000. Sequoia Financial Advisors LLC boosted its position in Hershey by 28.8% during the first quarter. Sequoia Financial Advisors LLC now owns 1,566 shares of the company’s stock worth $339,000 after purchasing an additional 350 shares during the period. Vanguard Group Inc. boosted its position in Hershey by 1.6% during the first quarter. Vanguard Group Inc. now owns 14,057,990 shares of the company’s stock worth $3,045,383,000 after purchasing an additional 216,715 shares during the period. Finally, Candriam Luxembourg S.C.A. increased its stake in shares of Hershey by 10.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 32,183 shares of the company’s stock worth $6,972,000 after purchasing an additional 3,129 shares in the last quarter. Hedge funds and other institutional investors own 56.47% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Jennifer Mccalman sold 453 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $198.54, for a total value of $89,938.62. Following the completion of the transaction, the chief accounting officer now owns 1,862 shares of the company’s stock, valued at approximately $369,681.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Hershey news, CAO Jennifer Mccalman sold 453 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $198.54, for a total value of $89,938.62. Following the sale, the chief accounting officer now owns 1,862 shares in the company, valued at $369,681.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $182.07, for a total value of $273,105.00. Following the completion of the sale, the chief financial officer now directly owns 31,316 shares in the company, valued at $5,701,704.12. The disclosure for this sale can be found here. Insiders sold 5,518 shares of company stock worth $1,042,669 over the last three months. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Barclays raised their price objective on shares of Hershey from $200.00 to $210.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Stifel Nicolaus boosted their price objective on Hershey from $195.00 to $205.00 and gave the company a “hold” rating in a research note on Thursday, January 25th. Morgan Stanley downgraded Hershey from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $191.00 to $183.00 in a research note on Monday, February 12th. DA Davidson started coverage on Hershey in a research report on Friday, December 8th. They set a “neutral” rating and a $205.00 price target on the stock. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $213.00 price objective on shares of Hershey in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $228.33.

Read Our Latest Stock Report on HSY

Hershey Stock Performance

Hershey stock opened at $192.52 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.52 and a debt-to-equity ratio of 0.92. The firm has a market cap of $39.26 billion, a P/E ratio of 21.27, a P/E/G ratio of 2.96 and a beta of 0.34. The Hershey Company has a 1-year low of $178.82 and a 1-year high of $276.88. The firm has a 50-day moving average of $191.62 and a 200-day moving average of $194.70.

Hershey (NYSE:HSYGet Free Report) last issued its quarterly earnings data 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. The firm had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.72 billion. Hershey had a return on equity of 51.79% and a net margin of 16.67%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company earned $2.02 EPS. Sell-side analysts expect that The Hershey Company will post 9.59 EPS for the current year.

Hershey Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Tuesday, February 20th will be paid a $1.37 dividend. 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 2.85%. The ex-dividend date of this dividend is Friday, February 16th. Hershey’s dividend payout ratio is presently 60.55%.

Hershey Company 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; 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

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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