Azimuth Capital Investment Management LLC Boosts Stock Holdings in The Hershey Company (NYSE:HSY)

Azimuth Capital Investment Management LLC grew its position in shares of The Hershey Company (NYSE:HSYFree Report) by 2.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,450 shares of the company’s stock after purchasing an additional 194 shares during the period. Azimuth Capital Investment Management LLC’s holdings in Hershey were worth $1,389,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. J.P. Morgan Private Wealth Advisors LLC bought a new position in Hershey in the third quarter worth approximately $1,720,000. Charles Schwab Investment Management Inc. raised its position in Hershey by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 758,743 shares of the company’s stock worth $151,809,000 after acquiring an additional 19,942 shares during the period. Van ECK Associates Corp raised its position in Hershey by 3.5% in the third quarter. Van ECK Associates Corp now owns 23,348 shares of the company’s stock worth $4,671,000 after acquiring an additional 779 shares during the period. Pathstone Family Office LLC raised its position in Hershey by 94.1% in the third quarter. Pathstone Family Office LLC now owns 11,419 shares of the company’s stock worth $2,285,000 after acquiring an additional 5,537 shares during the period. Finally, Huntington National Bank raised its position in Hershey by 5.9% in the third quarter. Huntington National Bank now owns 7,110 shares of the company’s stock worth $1,423,000 after acquiring an additional 398 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Insider Activity at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $185.83, for a total transaction of $278,745.00. Following the completion of the sale, the chief financial officer now owns 38,728 shares in the company, valued at approximately $7,196,824.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 4,500 shares of company stock worth $882,405 in the last 90 days. 0.34% of the stock is owned by corporate insiders.

Hershey Price Performance

Shares of NYSE:HSY traded down $1.26 on Friday, reaching $196.06. The company’s stock had a trading volume of 715,656 shares, compared to its average volume of 1,507,106. The Hershey Company has a 52-week low of $178.82 and a 52-week high of $263.29. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.64 and a current ratio of 0.97. The company has a 50-day simple moving average of $195.83 and a 200 day simple moving average of $192.55. The company has a market cap of $39.65 billion, a P/E ratio of 19.43, a PEG ratio of 4.41 and a beta of 0.37.

Hershey (NYSE:HSYGet Free Report) last released its quarterly earnings results on Friday, May 3rd. The company reported $3.07 EPS for the quarter, topping analysts’ consensus estimates of $2.74 by $0.33. Hershey had a net margin of 18.13% and a return on equity of 50.15%. The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same period in the previous year, the company earned $2.96 EPS. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, equities research analysts anticipate that The Hershey Company will post 9.6 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 17th will be issued a dividend of $1.37 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $5.48 dividend on an annualized basis and a yield of 2.80%. Hershey’s payout ratio is 54.31%.

Analysts Set New Price Targets

Several research firms have weighed in on HSY. BNP Paribas downgraded shares of Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 price target on the stock. in a research report on Tuesday, March 26th. Morgan Stanley downgraded shares of Hershey from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $191.00 to $183.00 in a research report on Monday, February 12th. Argus decreased their price objective on shares of Hershey from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Edward Jones restated a “hold” rating on shares of Hershey in a research report on Friday, April 19th. Finally, Wells Fargo & Company raised their price objective on shares of Hershey from $200.00 to $205.00 and gave the company an “equal weight” rating in a research report on Monday, May 6th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $210.56.

Check Out Our Latest Report on HSY

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; 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.

Recommended Stories

Want to see what other hedge funds are holding HSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hershey Company (NYSE:HSYFree Report).

Institutional Ownership by Quarter for Hershey (NYSE:HSY)

Receive News & Ratings for Hershey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hershey and related companies with MarketBeat.com's FREE daily email newsletter.