CIBC Asset Management Inc Has $11.59 Million Stock Holdings in Hershey Company (The) $HSY

CIBC Asset Management Inc increased its stake in shares of Hershey Company (The) (NYSE:HSY) by 33.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,587 shares of the company’s stock after purchasing an additional 16,047 shares during the quarter. CIBC Asset Management Inc’s holdings in Hershey were worth $11,591,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its position in shares of Hershey by 2.0% in the 4th quarter. Larson Financial Group LLC now owns 2,561 shares of the company’s stock worth $466,000 after buying an additional 50 shares during the period. ARS Wealth Advisors Group LLC lifted its stake in Hershey by 1.8% during the 4th quarter. ARS Wealth Advisors Group LLC now owns 3,070 shares of the company’s stock valued at $559,000 after acquiring an additional 54 shares during the period. Abacus Planning Group Inc. lifted its stake in Hershey by 4.0% during the 4th quarter. Abacus Planning Group Inc. now owns 1,407 shares of the company’s stock valued at $256,000 after acquiring an additional 54 shares during the period. BSW Wealth Partners lifted its stake in shares of Hershey by 5.1% in the 4th quarter. BSW Wealth Partners now owns 1,132 shares of the company’s stock worth $206,000 after purchasing an additional 55 shares during the period. Finally, Bruce G. Allen Investments LLC lifted its stake in shares of Hershey by 4.3% in the 4th quarter. Bruce G. Allen Investments LLC now owns 1,325 shares of the company’s stock worth $241,000 after purchasing an additional 55 shares during the period. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $194.10, for a total transaction of $291,150.00. Following the completion of the transaction, the chief financial officer directly owned 57,695 shares of the company’s stock, valued at $11,198,599.50. This represents a 2.53% decrease in their position. The sale was disclosed in a filing with the SEC, 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.

Hershey Trading Up 0.9%

Hershey stock opened at $184.42 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. Hershey Company has a 52 week low of $160.07 and a 52 week high of $239.48. The company has a market capitalization of $37.41 billion, a price-to-earnings ratio of 34.34, a price-to-earnings-growth ratio of 1.10 and a beta of 0.09. The stock has a 50-day moving average price of $194.51 and a 200 day moving average price of $198.75.

Hershey (NYSE:HSY) last released its earnings results on Thursday, April 30th. The company reported $2.35 EPS for the quarter, topping 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 firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the previous year, the company posted $2.09 earnings per share. The company’s revenue was up 10.7% compared to the same quarter last year. Sell-side analysts anticipate that Hershey Company will post 8.45 EPS for the current year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be issued a $1.452 dividend. 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 3.1%. Hershey’s payout ratio is presently 108.19%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on HSY shares. BTIG Research started coverage on shares of Hershey in a report on Monday, April 13th. They issued a “neutral” rating for the company. TD Cowen raised shares of Hershey from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a report on Friday, May 1st. Mizuho cut their target price on shares of Hershey from $195.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, May 20th. Deutsche Bank Aktiengesellschaft lowered their price target on Hershey from $212.00 to $200.00 and set a “hold” rating for the company in a research report on Monday, March 30th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Hershey in a research report on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $218.06.

Hershey 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.