Westfield Capital Management Co. LP Boosts Stock Position in The Hershey Company (NYSE:HSY)

Westfield Capital Management Co. LP boosted its holdings in The Hershey Company (NYSE:HSY) by 24.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,215 shares of the company’s stock after purchasing an additional 7,482 shares during the period. Westfield Capital Management Co. LP’s holdings in Hershey were worth $7,433,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BKM Wealth Management LLC purchased a new position in Hershey in the fourth quarter worth $26,000. Riverview Trust Co purchased a new position in shares of Hershey during the 1st quarter valued at $29,000. First Financial Corp IN purchased a new position in shares of Hershey during the 4th quarter valued at $29,000. Highlander Capital Management LLC lifted its position in shares of Hershey by 125.3% during the 4th quarter. Highlander Capital Management LLC now owns 169 shares of the company’s stock valued at $32,000 after buying an additional 94 shares during the last quarter. Finally, Rakuten Securities Inc. purchased a new position in shares of Hershey during the 4th quarter valued at $32,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Insider Buying and Selling at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $204.54, for a total transaction of $306,810.00. Following the transaction, the chief financial officer now directly owns 37,228 shares of the company’s stock, valued at $7,614,615.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 4,500 shares of company stock valued at $859,950 in the last quarter. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

HSY has been the topic of a number of recent research reports. BNP Paribas cut Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 price target on the stock. in a research report on Tuesday, March 26th. Edward Jones reaffirmed a “hold” rating on shares of Hershey in a research report on Friday, April 19th. Bank of America dropped their price objective on Hershey from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Wells Fargo & Company dropped their price objective on Hershey from $205.00 to $195.00 and set an “equal weight” rating on the stock in a report on Friday, June 21st. Finally, Argus dropped their price objective on Hershey from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $205.65.

Hershey Price Performance

Shares of Hershey stock traded down $2.19 during trading on Friday, hitting $191.15. 2,196,187 shares of the stock traded hands, compared to its average volume of 1,610,709. The company has a quick ratio of 0.64, a current ratio of 0.97 and a debt-to-equity ratio of 0.92. The stock has a market cap of $38.66 billion, a price-to-earnings ratio of 18.94, a PEG ratio of 4.28 and a beta of 0.36. The firm’s fifty day moving average is $192.17 and its 200-day moving average is $192.49. The Hershey Company has a 52 week low of $178.82 and a 52 week high of $248.93.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Friday, May 3rd. The company reported $3.07 EPS for the quarter, beating the consensus estimate of $2.74 by $0.33. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.11 billion. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The company’s revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.96 EPS. Research analysts expect that The Hershey Company will post 9.59 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 17th were paid a $1.37 dividend. The ex-dividend date was Thursday, May 16th. This represents a $5.48 dividend on an annualized basis and a yield of 2.87%. Hershey’s dividend payout ratio (DPR) is currently 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.