Orion Portfolio Solutions LLC Makes New $73,000 Investment in Hershey Co (NYSE:HSY)
Orion Portfolio Solutions LLC acquired a new stake in Hershey Co (NYSE:HSY) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 499 shares of the company’s stock, valued at approximately $73,000.
Other large investors have also recently bought and sold shares of the company. Millennium Management LLC increased its stake in Hershey by 108.1% in the 3rd quarter. Millennium Management LLC now owns 155,045 shares of the company’s stock worth $24,030,000 after purchasing an additional 2,064,345 shares during the period. State Street Corp increased its holdings in shares of Hershey by 5.6% in the 3rd quarter. State Street Corp now owns 7,555,394 shares of the company’s stock valued at $1,171,011,000 after acquiring an additional 401,710 shares during the period. Schroder Investment Management Group raised its position in Hershey by 56.0% in the 4th quarter. Schroder Investment Management Group now owns 1,118,247 shares of the company’s stock valued at $164,360,000 after purchasing an additional 401,249 shares during the last quarter. Bank of Montreal Can boosted its stake in Hershey by 23.5% during the 4th quarter. Bank of Montreal Can now owns 1,444,409 shares of the company’s stock worth $212,299,000 after purchasing an additional 274,955 shares during the period. Finally, Bank of America Corp DE boosted its stake in Hershey by 11.0% during the 4th quarter. Bank of America Corp DE now owns 1,639,997 shares of the company’s stock worth $241,047,000 after purchasing an additional 162,277 shares during the period. Hedge funds and other institutional investors own 53.13% of the company’s stock.
HSY stock traded up $6.31 during trading on Thursday, hitting $132.45. The company had a trading volume of 1,440,366 shares, compared to its average volume of 1,170,318. The firm has a market capitalization of $25.57 billion, a price-to-earnings ratio of 24.30, a P/E/G ratio of 2.61 and a beta of 0.11. The business has a 50 day moving average of $148.24 and a 200 day moving average of $149.29. Hershey Co has a fifty-two week low of $109.88 and a fifty-two week high of $162.20. The company has a current ratio of 1.05, a quick ratio of 0.65 and a debt-to-equity ratio of 2.02.
The company also recently announced a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 21st were issued a $0.773 dividend. This represents a $3.09 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Thursday, February 20th. Hershey’s dividend payout ratio is 53.46%.
HSY has been the topic of several recent analyst reports. Barclays restated a “hold” rating on shares of Hershey in a research report on Sunday, February 2nd. UBS Group lifted their price target on shares of Hershey from $147.00 to $157.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Royal Bank of Canada reiterated a “hold” rating and set a $134.00 price target on shares of Hershey in a research report on Monday. Jefferies Financial Group reissued a “hold” rating and set a $157.00 price target on shares of Hershey in a research note on Sunday, February 2nd. Finally, Credit Suisse Group upgraded Hershey from a “neutral” rating to an “outperform” rating and set a $160.00 price target on the stock in a report on Wednesday, March 18th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $146.00.
In other news, Director Pamela M. Arway sold 371 shares of Hershey stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $145.48, for a total transaction of $53,973.08. Following the sale, the director now owns 15,986 shares of the company’s stock, valued at approximately $2,325,643.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jason Reiman sold 2,905 shares of the business’s stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $155.00, for a total transaction of $450,275.00. Following the transaction, the senior vice president now owns 9,605 shares in the company, valued at approximately $1,488,775. The disclosure for this sale can be found here. Insiders sold 23,104 shares of company stock worth $3,548,402 in the last 90 days. Company insiders own 0.41% of the company’s stock.
Hershey Company 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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