The Hershey Company (NYSE:HSY) Shares Purchased by Korea Investment CORP

Korea Investment CORP boosted its position in The Hershey Company (NYSE:HSYGet Rating) by 39.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,863 shares of the company’s stock after buying an additional 43,563 shares during the quarter. Korea Investment CORP owned 0.08% of Hershey worth $33,320,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in HSY. Zions Bancorporation N.A. increased its position in shares of Hershey by 121.3% in the 1st quarter. Zions Bancorporation N.A. now owns 135 shares of the company’s stock worth $29,000 after purchasing an additional 74 shares during the last quarter. Verity Asset Management Inc. bought a new stake in shares of Hershey in the 1st quarter worth about $35,000. SouthState Corp increased its position in shares of Hershey by 365.0% in the 1st quarter. SouthState Corp now owns 186 shares of the company’s stock worth $40,000 after purchasing an additional 146 shares during the last quarter. Orion Capital Management LLC bought a new stake in shares of Hershey in the 2nd quarter worth about $54,000. Finally, ACG Wealth bought a new stake in shares of Hershey in the 2nd quarter worth about $57,000. Institutional investors and hedge funds own 54.28% of the company’s stock.

Insider Transactions at Hershey

In related news, insider Charles R. Raup sold 1,512 shares of the stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $224.82, for a total transaction of $339,927.84. Following the completion of the sale, the insider now directly owns 15,225 shares of the company’s stock, valued at $3,422,884.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Michele Buck sold 14,250 shares of the stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $221.86, for a total transaction of $3,161,505.00. Following the completion of the sale, the chief executive officer now directly owns 170,555 shares of the company’s stock, valued at $37,839,332.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Charles R. Raup sold 1,512 shares of the stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $224.82, for a total transaction of $339,927.84. Following the sale, the insider now directly owns 15,225 shares of the company’s stock, valued at $3,422,884.50. The disclosure for this sale can be found here. In the last three months, insiders sold 55,574 shares of company stock valued at $12,446,698. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on HSY. Exane BNP Paribas began coverage on shares of Hershey in a research report on Tuesday, November 15th. They issued a “neutral” rating and a $235.00 target price for the company. Morgan Stanley boosted their price objective on shares of Hershey from $222.00 to $224.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 8th. Royal Bank of Canada began coverage on shares of Hershey in a research report on Wednesday, September 14th. They set an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Hershey from $230.00 to $236.00 and gave the company a “hold” rating in a research report on Monday, November 7th. Finally, Cowen began coverage on shares of Hershey in a research report on Wednesday, September 14th. They set a “market perform” rating and a $238.00 price objective for the company. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $229.00.

Hershey Price Performance

NYSE HSY opened at $232.17 on Thursday. The Hershey Company has a 52 week low of $175.08 and a 52 week high of $241.45. The company has a current ratio of 0.79, a quick ratio of 0.45 and a debt-to-equity ratio of 1.08. The stock has a market cap of $47.61 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 3.66 and a beta of 0.36. The company has a 50-day moving average price of $226.40 and a two-hundred day moving average price of $222.20.

Hershey (NYSE:HSYGet Rating) last issued its quarterly earnings results on Friday, November 4th. The company reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.07. The company had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.62 billion. Hershey had a net margin of 15.69% and a return on equity of 58.19%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.10 EPS. Analysts forecast that The Hershey Company will post 8.28 EPS for the current year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Friday, November 18th will be paid a $1.036 dividend. This represents a $4.14 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 17th. Hershey’s dividend payout ratio is currently 54.05%.

Hershey Profile

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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, meat snacks, bars and snack bites, mixes, popcorn, and protein bars.

See Also

Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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