Deane Retirement Strategies Inc. Invests $3.84 Million in The Hershey Company (NYSE:HSY)

Deane Retirement Strategies Inc. bought a new stake in shares of The Hershey Company (NYSE:HSY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 20,619 shares of the company’s stock, valued at approximately $3,844,000. Hershey makes up approximately 2.1% of Deane Retirement Strategies Inc.’s portfolio, making the stock its 10th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HSY. Pinnacle Bancorp Inc. bought a new position in shares of Hershey in the 3rd quarter worth approximately $25,000. Costello Asset Management INC bought a new position in Hershey in the third quarter worth $25,000. BKM Wealth Management LLC purchased a new position in Hershey during the fourth quarter valued at $26,000. First Financial Corp IN bought a new stake in shares of Hershey during the 4th quarter valued at $29,000. Finally, Zions Bancorporation N.A. grew 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 buying an additional 74 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Citigroup began coverage on Hershey in a report on Thursday, February 1st. They issued a “neutral” rating and a $213.00 target price on the stock. Bank of America cut Hershey from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $250.00 to $200.00 in a research report on Friday, December 15th. BNP Paribas lowered Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 price objective for the company. in a research note on Tuesday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $213.00 price target on shares of Hershey in a research note on Friday, March 15th. Finally, DA Davidson initiated coverage on Hershey in a report on Friday, December 8th. They set a “neutral” rating and a $205.00 price target on the stock. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $225.48.

Insider Transactions at Hershey

In related news, insider Charles R. Raup sold 2,065 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $191.85, for a total transaction of $396,170.25. Following the sale, the insider now owns 14,770 shares in the company, valued at $2,833,624.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $197.90, for a total transaction of $296,850.00. Following the transaction, the chief financial officer now owns 40,228 shares in the company, valued at $7,961,121.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Charles R. Raup sold 2,065 shares of the stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $191.85, for a total value of $396,170.25. Following the completion of the sale, the insider now owns 14,770 shares of the company’s stock, valued at approximately $2,833,624.50. The disclosure for this sale can be found here. Insiders sold a total of 5,518 shares of company stock worth $1,066,414 over the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Hershey Price Performance

HSY stock traded up $2.68 during midday trading on Thursday, hitting $196.39. 527,234 shares of the stock were exchanged, compared to its average volume of 2,055,158. The stock has a market cap of $40.05 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 2.93 and a beta of 0.34. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.52 and a current ratio of 0.97. The Hershey Company has a fifty-two week low of $178.82 and a fifty-two week high of $276.88. The stock’s 50-day moving average price is $193.22 and its 200-day moving average price is $192.79.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, February 8th. The company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.07. Hershey had a return on equity of 51.79% and a net margin of 16.67%. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.72 billion. During the same quarter in the prior year, the firm earned $2.02 EPS. Hershey’s quarterly revenue was up .2% on a year-over-year basis. Research analysts predict that The Hershey Company will post 9.59 earnings per share for the current year.

Hershey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th were paid a dividend of $1.37 per share. This is a boost from Hershey’s previous quarterly dividend of $1.19. This represents a $5.48 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Friday, February 16th. Hershey’s dividend payout ratio (DPR) is currently 60.55%.

Hershey 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.