American Century Companies Inc. Has $120.41 Million Stake in The Hershey Company (NYSE:HSY)

American Century Companies Inc. raised its stake in shares of The Hershey Company (NYSE:HSY) by 15.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 711,009 shares of the company’s stock after purchasing an additional 93,009 shares during the period. American Century Companies Inc. owned 0.35% of Hershey worth $120,409,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of HSY. Mizuho Securities USA LLC increased its stake in shares of Hershey by 46.2% in the fourth quarter. Mizuho Securities USA LLC now owns 14,002 shares of the company’s stock worth $2,371,000 after purchasing an additional 4,426 shares during the period. Virtu Financial LLC grew its holdings in Hershey by 76.5% in the 4th quarter. Virtu Financial LLC now owns 25,007 shares of the company’s stock valued at $4,235,000 after buying an additional 10,837 shares during the last quarter. Millstone Evans Group LLC bought a new position in Hershey in the 4th quarter worth approximately $193,000. Lee Danner & Bass Inc. acquired a new position in shares of Hershey during the fourth quarter worth approximately $34,000. Finally, Lowe Brockenbrough & Co. Inc. boosted its position in shares of Hershey by 2.2% in the fourth quarter. Lowe Brockenbrough & Co. Inc. now owns 3,987 shares of the company’s stock valued at $675,000 after acquiring an additional 85 shares during the period. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the transaction, the chief accounting officer now directly owns 2,682 shares of the company’s stock, valued at approximately $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

Hershey Stock Performance

NYSE HSY opened at $167.38 on Monday. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $211.92. The company has a 50 day moving average of $162.61 and a 200-day moving average of $174.80. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68. The firm has a market cap of $33.88 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 5.90 and a beta of 0.32.

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

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Friday, February 14th. Hershey’s dividend payout ratio is currently 50.28%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Stifel Nicolaus cut their target price on shares of Hershey from $170.00 to $160.00 and set a “hold” rating for the company in a research note on Friday, February 7th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $178.00 target price on shares of Hershey in a research note on Monday, February 3rd. DA Davidson lowered their price target on Hershey from $164.00 to $149.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Mizuho reduced their price objective on Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. Finally, Piper Sandler lowered Hershey from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $153.00 to $120.00 in a report on Friday, January 31st. Five investment analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. Based on data from MarketBeat, Hershey presently has a consensus rating of “Hold” and an average price target of $163.75.

Hershey Profile

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.