Creative Planning Reduces Position in Hershey Co (HSY)

Creative Planning cut its holdings in Hershey Co (NYSE:HSY) by 0.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,456 shares of the company’s stock after selling 97 shares during the period. Creative Planning’s holdings in Hershey were worth $1,890,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its holdings in Hershey by 8.4% in the 4th quarter. BlackRock Inc. now owns 13,764,673 shares of the company’s stock valued at $1,475,299,000 after purchasing an additional 1,070,632 shares in the last quarter. Vanguard Group Inc boosted its holdings in Hershey by 1.1% in the 3rd quarter. Vanguard Group Inc now owns 10,862,696 shares of the company’s stock valued at $1,107,995,000 after purchasing an additional 116,765 shares in the last quarter. FMR LLC boosted its holdings in Hershey by 9.8% in the 4th quarter. FMR LLC now owns 6,142,122 shares of the company’s stock valued at $658,314,000 after purchasing an additional 550,341 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Hershey by 10,179.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,456,662 shares of the company’s stock valued at $32,000 after purchasing an additional 3,423,036 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Hershey by 12.8% in the 4th quarter. Geode Capital Management LLC now owns 2,189,376 shares of the company’s stock valued at $234,317,000 after purchasing an additional 249,155 shares in the last quarter. Institutional investors own 53.61% of the company’s stock.

Several brokerages have recently commented on HSY. Zacks Investment Research raised Hershey from a “hold” rating to a “buy” rating and set a $139.00 price target on the stock in a research note on Wednesday, May 8th. UBS Group set a $100.00 price target on Hershey and gave the stock a “sell” rating in a research note on Friday, April 26th. BMO Capital Markets boosted their price target on Hershey from $93.00 to $108.00 and gave the stock a “market perform” rating in a research note on Friday, April 26th. Barclays boosted their price target on Hershey from $103.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Finally, Bank of America reissued a “buy” rating and set a $130.00 price target (up previously from $120.00) on shares of Hershey in a research note on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $113.27.

Shares of Hershey stock traded up $1.13 during trading on Wednesday, hitting $131.44. 1,184,254 shares of the company were exchanged, compared to its average volume of 1,206,126. The company has a debt-to-equity ratio of 2.27, a current ratio of 0.92 and a quick ratio of 0.59. Hershey Co has a fifty-two week low of $89.29 and a fifty-two week high of $131.79. The company has a market capitalization of $27.13 billion, a P/E ratio of 24.52, a P/E/G ratio of 2.83 and a beta of 0.18.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.11. Hershey had a return on equity of 90.64% and a net margin of 14.44%. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period in the previous year, the firm posted $1.41 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, research analysts expect that Hershey Co will post 5.7 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be issued a $0.722 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $2.89 annualized dividend and a yield of 2.20%. Hershey’s dividend payout ratio (DPR) is presently 53.92%.

In other Hershey news, CFO Patricia A. Little sold 19,779 shares of the business’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $109.30, for a total value of $2,161,844.70. Following the completion of the transaction, the chief financial officer now directly owns 36,049 shares in the company, valued at approximately $3,940,155.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michele Buck sold 1,500 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $117.00, for a total value of $175,500.00. Following the completion of the transaction, the chief executive officer now owns 161,429 shares of the company’s stock, valued at $18,887,193. The disclosure for this sale can be found here. Insiders sold a total of 3,599,898 shares of company stock valued at $452,918,580 over the last quarter. 0.41% of the stock is currently owned by insiders.

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Hershey Profile

The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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