Skba Capital Management LLC Has $6.09 Million Position in The Hershey Company (NYSE:HSY)

Skba Capital Management LLC grew its holdings in The Hershey Company (NYSE:HSY) by 10.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 35,955 shares of the company’s stock after buying an additional 3,300 shares during the quarter. Skba Capital Management LLC’s holdings in Hershey were worth $6,089,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in Hershey in the 4th quarter valued at about $80,978,000. Principal Financial Group Inc. grew its stake in shares of Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after purchasing an additional 389,404 shares during the last quarter. State Street Corp increased its holdings 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 valued at $1,348,127,000 after purchasing an additional 386,670 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Hershey by 5.6% in the 4th 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, KLP Kapitalforvaltning AS acquired a new position in Hershey during the 4th quarter worth $21,439,000. 57.96% of the stock is owned by institutional investors.

Hershey Trading Down 0.4 %

NYSE:HSY opened at $169.87 on Monday. The business’s 50-day simple moving average is $164.03 and its 200-day simple moving average is $173.67. The Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $211.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. The stock has a market capitalization of $34.38 billion, a PE ratio of 15.58, a price-to-earnings-growth 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 the consensus estimate of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. Sell-side analysts expect that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were issued a $1.37 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.23%. Hershey’s dividend payout ratio (DPR) is 50.28%.

Analysts Set New Price Targets

HSY has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lowered their target price on Hershey from $184.00 to $148.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Morgan Stanley initiated coverage on Hershey in a report on Monday, March 24th. They set an “equal weight” rating and a $183.00 price objective for the company. Bernstein Bank reduced their target price on shares of Hershey from $177.00 to $146.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. TD Cowen lowered their price target on shares of Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Five investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $162.50.

Insider Transactions at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $148.00, for a total value of $41,144.00. Following the sale, the chief accounting officer now owns 2,682 shares in the company, valued at approximately $396,936. The trade was a 9.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.34% of the stock is owned by insiders.

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.