The Hershey Company (NYSE:HSY) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of The Hershey Company (NYSE:HSY) by 317.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,209 shares of the company’s stock after buying an additional 30,570 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Hershey were worth $6,809,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in HSY. Raymond James Financial Inc. acquired a new position in Hershey in the 4th quarter worth approximately $80,978,000. Principal Financial Group Inc. boosted its holdings in shares of Hershey by 66.7% in the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after acquiring an additional 389,404 shares during the last quarter. State Street Corp increased its stake in shares of Hershey by 5.8% in the third quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after acquiring an additional 386,670 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Hershey by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company’s stock worth $785,003,000 after purchasing an additional 247,675 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Hershey by 31.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company’s stock valued at $112,491,000 after purchasing an additional 139,831 shares during the period. 57.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. DA Davidson reduced their price objective on Hershey from $164.00 to $149.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. TD Cowen reduced their price target on Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company upped their price objective on Hershey from $125.00 to $132.00 and gave the stock an “underweight” rating in a research report on Friday. Piper Sandler lowered shares of Hershey from a “neutral” rating to an “underweight” rating and cut their target price for the company from $153.00 to $120.00 in a report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Hershey from $184.00 to $148.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Five analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $163.75.

Hershey Price Performance

Shares of NYSE HSY opened at $170.32 on Friday. The stock has a market capitalization of $34.47 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32. The Hershey Company has a 52 week low of $140.13 and a 52 week high of $211.92. The firm has a 50-day simple moving average of $162.15 and a 200-day simple moving average of $175.86. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68.

Hershey (NYSE:HSY) last released its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. On average, equities analysts predict that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date was Friday, February 14th. Hershey’s dividend payout ratio (DPR) is presently 50.28%.

Insider Transactions at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $148.00, for a total transaction of $41,144.00. Following the completion of the sale, the chief accounting officer now directly owns 2,682 shares in the company, valued at approximately $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.29% of the company’s stock.

About Hershey

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.