ICICI Prudential Asset Management Co Ltd Grows Holdings in Hershey Company (The) $HSY

ICICI Prudential Asset Management Co Ltd grew its holdings in Hershey Company (The) (NYSE:HSY) by 82.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,600 shares of the company’s stock after purchasing an additional 12,000 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Hershey were worth $4,841,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPL Wealth Management LLC purchased a new stake in Hershey in the third quarter worth $26,000. Laurel Wealth Advisors LLC purchased a new stake in Hershey in the fourth quarter worth $27,000. Manchester Capital Management LLC increased its stake in Hershey by 123.0% in the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the company’s stock worth $30,000 after purchasing an additional 91 shares during the period. Measured Wealth Private Client Group LLC purchased a new stake in Hershey in the third quarter worth $35,000. Finally, Atlantic Edge Private Wealth Management LLC purchased a new stake in Hershey in the fourth quarter worth $42,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $194.10, for a total transaction of $291,150.00. Following the sale, the chief financial officer owned 57,695 shares of the company’s stock, valued at $11,198,599.50. This trade represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on HSY shares. Barclays dropped their price target on Hershey from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Monday, May 4th. UBS Group dropped their price target on Hershey from $215.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Stephens increased their price target on Hershey from $200.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, February 12th. Stifel Nicolaus dropped their price target on Hershey from $230.00 to $215.00 and set a “hold” rating on the stock in a research report on Tuesday, April 21st. Finally, Piper Sandler reissued an “overweight” rating and set a $249.00 price target on shares of Hershey in a research report on Wednesday, February 25th. Seven analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $218.06.

Hershey Price Performance

Shares of HSY stock opened at $181.34 on Friday. Hershey Company has a 1-year low of $160.07 and a 1-year high of $239.48. The stock’s 50-day moving average is $191.80 and its 200 day moving average is $198.72. The company has a market cap of $36.78 billion, a P/E ratio of 33.77, a PEG ratio of 1.06 and a beta of 0.09. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 0.77.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.31. Hershey had a return on equity of 28.98% and a net margin of 9.12%.The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter last year, the company earned $2.09 earnings per share. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. Research analysts predict that Hershey Company will post 8.45 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be given a dividend of $1.452 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $5.81 dividend on an annualized basis and a yield of 3.2%. Hershey’s dividend payout ratio (DPR) is presently 108.19%.

Hershey Company Profile

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.