Jennison Associates LLC Has $26.08 Million Stake in The Hershey Company (NYSE:HSY)

Jennison Associates LLC boosted its holdings in The Hershey Company (NYSE:HSY) by 483.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 139,881 shares of the company’s stock after purchasing an additional 115,912 shares during the quarter. Jennison Associates LLC owned 0.07% of Hershey worth $26,079,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of HSY. Nordea Investment Management AB raised its stake in Hershey by 143.7% in the 3rd quarter. Nordea Investment Management AB now owns 2,465,403 shares of the company’s stock worth $496,039,000 after purchasing an additional 1,453,819 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Hershey by 18,495.8% in the 4th quarter. International Assets Investment Management LLC now owns 295,673 shares of the company’s stock valued at $55,125,000 after buying an additional 294,083 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Hershey by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 14,911,173 shares of the company’s stock valued at $2,983,427,000 after buying an additional 222,960 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Hershey in the 3rd quarter valued at approximately $33,672,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Hershey by 270.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 197,312 shares of the company’s stock valued at $39,478,000 after buying an additional 144,103 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Stock Up 0.6 %

Shares of NYSE HSY opened at $188.14 on Thursday. The company has a market capitalization of $38.37 billion, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 2.87 and a beta of 0.34. The Hershey Company has a 52-week low of $178.82 and a 52-week high of $276.88. 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 company’s 50 day moving average price is $191.95 and its 200-day moving average price is $190.73.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, February 8th. The company reported $2.02 earnings per share (EPS) 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 the consensus estimate of $2.72 billion. Hershey had a net margin of 16.67% and a return on equity of 51.79%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.02 EPS. Equities analysts forecast that The Hershey Company will post 9.6 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. Stockholders of record on Tuesday, February 20th were given a $1.37 dividend. The ex-dividend date was Friday, February 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.91%. This is an increase from Hershey’s previous quarterly dividend of $1.19. Hershey’s payout ratio is 60.55%.

Insider Transactions at Hershey

In other news, CAO Jennifer Mccalman sold 453 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $198.54, for a total value of $89,938.62. Following the transaction, the chief accounting officer now owns 1,862 shares in the company, valued at approximately $369,681.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Jennifer Mccalman sold 453 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $198.54, for a total transaction of $89,938.62. Following the transaction, the chief accounting officer now owns 1,862 shares in the company, valued at approximately $369,681.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $185.83, for a total transaction of $278,745.00. Following the transaction, the chief financial officer now owns 38,728 shares in the company, valued at approximately $7,196,824.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,453 shares of company stock worth $665,534. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HSY. Barclays boosted their target price on shares of Hershey from $200.00 to $210.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $213.00 price target on shares of Hershey in a report on Friday, March 15th. JPMorgan Chase & Co. lifted their price target on shares of Hershey from $185.00 to $193.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Citigroup decreased their price target on shares of Hershey from $213.00 to $199.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Finally, Sanford C. Bernstein raised shares of Hershey from a “market perform” rating to an “outperform” rating and set a $235.00 price target on the stock in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Hershey has a consensus rating of “Hold” and a consensus price target of $223.33.

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.