Schroder Investment Management Group Raises Holdings in Hershey Co (HSY)
Schroder Investment Management Group raised its stake in Hershey Co (NYSE:HSY) by 883.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 474,370 shares of the company’s stock after acquiring an additional 426,159 shares during the period. Schroder Investment Management Group’s holdings in Hershey were worth $53,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently modified their holdings of HSY. APG Asset Management N.V. boosted its holdings in Hershey by 417.5% in the 3rd quarter. APG Asset Management N.V. now owns 1,297,179 shares of the company’s stock valued at $141,613,000 after purchasing an additional 1,046,500 shares during the period. Evercore Trust Company N.A. bought a new stake in Hershey in the 3rd quarter valued at $105,956,000. Troy Asset Management Ltd bought a new stake in Hershey in the 3rd quarter valued at $66,396,000. American Century Companies Inc. bought a new stake in Hershey in the 4th quarter valued at $67,283,000. Finally, Janus Henderson Group PLC boosted its holdings in Hershey by 15.4% in the 3rd quarter. Janus Henderson Group PLC now owns 4,368,862 shares of the company’s stock valued at $476,949,000 after purchasing an additional 582,715 shares during the period. 52.54% of the stock is owned by hedge funds and other institutional investors.
Shares of Hershey Co (NYSE HSY) opened at $100.71 on Tuesday. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.96 and a quick ratio of 0.60. The firm has a market cap of $21,216.37, a PE ratio of 27.52, a price-to-earnings-growth ratio of 2.17 and a beta of 0.26. Hershey Co has a 1 year low of $97.62 and a 1 year high of $116.49.
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 2.61%. The ex-dividend date of this dividend is Thursday, February 22nd. Hershey’s payout ratio is presently 71.58%.
Hershey announced that its board has authorized a stock repurchase plan on Thursday, October 26th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
A number of brokerages have weighed in on HSY. Zacks Investment Research downgraded shares of Hershey from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Royal Bank of Canada reissued a “hold” rating and issued a $122.00 price target on shares of Hershey in a report on Friday, December 22nd. Sanford C. Bernstein set a $124.00 price objective on shares of Hershey and gave the stock a “buy” rating in a report on Tuesday, December 19th. Berenberg Bank raised shares of Hershey from a “sell” rating to a “hold” rating and set a $90.00 price objective for the company in a report on Monday, December 18th. Finally, Susquehanna Bancshares set a $113.00 price objective on shares of Hershey and gave the stock a “hold” rating in a report on Monday, December 18th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. Hershey has an average rating of “Hold” and a consensus price target of $111.44.
In other Hershey news, insider Michele Buck sold 400 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The shares were sold at an average price of $114.95, for a total value of $45,980.00. Following the completion of the sale, the insider now owns 164,097 shares in the company, valued at approximately $18,862,950.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 1,200 shares of company stock valued at $133,800 in the last 90 days. Corporate insiders own 0.92% of the company’s stock.
Hershey Company Profile
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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