Hershey Co (HSY) Holdings Lifted by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Hershey Co (NYSE:HSY) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,333 shares of the company’s stock after purchasing an additional 1,385 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Hershey were worth $2,605,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. WFG Advisors LP lifted its stake in shares of Hershey by 25.2% during the 2nd quarter. WFG Advisors LP now owns 998 shares of the company’s stock worth $107,000 after purchasing an additional 201 shares during the period. Rodgers Brothers Inc. lifted its stake in shares of Hershey by 5.6% during the 3rd quarter. Rodgers Brothers Inc. now owns 8,900 shares of the company’s stock worth $972,000 after purchasing an additional 475 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Hershey by 2.6% during the 3rd quarter. CIBC Asset Management Inc now owns 19,288 shares of the company’s stock worth $2,106,000 after purchasing an additional 495 shares during the period. Fernwood Investment Management LLC lifted its stake in shares of Hershey by 10.6% during the 3rd quarter. Fernwood Investment Management LLC now owns 5,225 shares of the company’s stock worth $570,000 after purchasing an additional 500 shares during the period. Finally, Palo Capital Inc. lifted its stake in shares of Hershey by 6.9% during the 4th quarter. Palo Capital Inc. now owns 8,138 shares of the company’s stock worth $924,000 after purchasing an additional 522 shares during the period. 51.97% of the stock is currently owned by institutional investors.
Hershey Co (HSY) opened at $99.67 on Friday. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.96 and a quick ratio of 0.60. Hershey Co has a 52-week low of $97.62 and a 52-week high of $116.49. The company has a market capitalization of $20,997.28, a PE ratio of 20.94, a price-to-earnings-growth ratio of 2.15 and a beta of 0.26.
Hershey declared that its board has approved a stock repurchase plan on Thursday, October 26th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Friday, February 23rd will be given a $0.656 dividend. This represents a $2.62 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Thursday, February 22nd. Hershey’s dividend payout ratio (DPR) is presently 71.58%.
In other Hershey news, insider Michele Buck sold 400 shares of the firm’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $108.00, for a total value of $43,200.00. Following the transaction, the insider now directly owns 164,497 shares of the company’s stock, valued at $17,765,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP D Michael Wege sold 15,517 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $108.18, for a total value of $1,678,629.06. The disclosure for this sale can be found here. Insiders sold 16,717 shares of company stock worth $1,812,429 over the last three months. 0.92% of the stock is currently owned by corporate insiders.
A number of research analysts have weighed in on HSY shares. Sanford C. Bernstein set a $124.00 price target on Hershey and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Zacks Investment Research raised Hershey from a “hold” rating to a “buy” rating and set a $128.00 price target on the stock in a research note on Friday, December 29th. Citigroup increased their price target on Hershey from $126.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Argus cut their target price on Hershey from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. Finally, Barclays cut their target price on Hershey from $110.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Friday, February 2nd. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. Hershey presently has an average rating of “Hold” and an average price target of $111.43.
The Hershey Company is a producer of chocolate in North America. The Company’s principal product offerings include chocolate and non-chocolate confectionery products; gum and mint refreshment products; pantry items, such as baking ingredients and beverages, and snack items, such as spreads, meat snacks, bars and snack bites and mixes.
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