Douglas Lane & Associates LLC Has $3.85 Million Stock Holdings in The Hershey Company (NYSE:HSY)

Douglas Lane & Associates LLC lifted its stake in The Hershey Company (NYSE:HSY) by 1,121.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,794 shares of the company’s stock after acquiring an additional 18,174 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Hershey were worth $3,850,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Wealth Alliance increased its stake in shares of Hershey by 9.5% in the fourth quarter. Wealth Alliance now owns 1,137 shares of the company’s stock worth $212,000 after acquiring an additional 99 shares during the last quarter. AJOVista LLC bought a new position in Hershey during the fourth quarter valued at about $153,000. Pittenger & Anderson Inc. raised its holdings in Hershey by 1,263.3% during the fourth quarter. Pittenger & Anderson Inc. now owns 15,105 shares of the company’s stock valued at $2,816,000 after buying an additional 13,997 shares in the last quarter. Ironwood Investment Counsel LLC bought a new position in Hershey during the fourth quarter valued at about $2,332,000. Finally, Reliant Investment Management LLC bought a new position in Hershey during the fourth quarter valued at about $4,173,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $204.54, for a total transaction of $306,810.00. Following the sale, the chief financial officer now owns 37,228 shares in the company, valued at approximately $7,614,615.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HSY. Edward Jones restated a “hold” rating on shares of Hershey in a report on Friday, April 19th. Royal Bank of Canada restated a “sector perform” rating and set a $213.00 target price on shares of Hershey in a report on Friday, March 15th. Argus lowered their price target on Hershey from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Barclays decreased their target price on Hershey from $210.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 18th. Finally, Citigroup decreased their target price on Hershey from $213.00 to $199.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $209.67.

Hershey Stock Performance

Shares of NYSE:HSY opened at $182.09 on Monday. The company’s 50 day moving average price is $194.13 and its two-hundred day moving average price is $192.30. The Hershey Company has a 12-month low of $178.82 and a 12-month high of $261.58. The firm has a market cap of $36.82 billion, a PE ratio of 18.05, a PEG ratio of 4.07 and a beta of 0.37. The company has a quick ratio of 0.64, a current ratio of 0.97 and a debt-to-equity ratio of 0.92.

Hershey (NYSE:HSY) last announced its earnings results on Friday, May 3rd. The company reported $3.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.74 by $0.33. Hershey had a net margin of 18.13% and a return on equity of 50.15%. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the prior year, the business posted $2.96 EPS. The business’s revenue was up 8.9% compared to the same quarter last year. Equities research analysts predict that The Hershey Company will post 9.6 earnings per share for the current year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 17th were given a dividend of $1.37 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $5.48 annualized dividend and a dividend yield of 3.01%. Hershey’s dividend payout ratio is 54.31%.

Hershey Company 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.