Eliot Finkel Investment Counsel LLC Grows Holdings in The Hershey Company (NYSE:HSY)

Eliot Finkel Investment Counsel LLC raised its position in The Hershey Company (NYSE:HSY) by 36.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,460 shares of the company’s stock after buying an additional 5,700 shares during the period. Hershey comprises 2.3% of Eliot Finkel Investment Counsel LLC’s investment portfolio, making the stock its 22nd biggest position. Eliot Finkel Investment Counsel LLC’s holdings in Hershey were worth $3,634,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in 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 buying an additional 386,670 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Hershey by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock worth $841,476,000 after purchasing an additional 109,336 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Hershey by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,753,751 shares of the company’s stock worth $717,606,000 after purchasing an additional 35,688 shares in the last quarter. Principal Financial Group Inc. increased 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 worth $186,571,000 after purchasing an additional 389,404 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Hershey by 3.2% during the third quarter. Stifel Financial Corp now owns 964,748 shares of the company’s stock worth $185,027,000 after purchasing an additional 29,507 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Performance

NYSE:HSY opened at $172.68 on Friday. 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 firm has a market capitalization of $34.94 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 5.90 and a beta of 0.37. The company’s 50-day moving average is $160.58 and its two-hundred day moving average is $177.17. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $211.92.

Hershey (NYSE:HSY) last posted its 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%. Analysts forecast that The Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 17th will be issued a $1.37 dividend. The ex-dividend date is Friday, February 14th. This represents a $5.48 annualized dividend and a dividend yield of 3.17%. Hershey’s dividend payout ratio is currently 50.28%.

Insider Transactions at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of the company’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 in the company, valued at approximately $396,936. This represents a 9.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

HSY has been the subject of a number of research reports. DA Davidson cut their target price on shares of Hershey from $164.00 to $149.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Bernstein Bank cut their target price on shares of Hershey from $177.00 to $146.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Hershey from $184.00 to $148.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Barclays cut their target price on shares of Hershey from $170.00 to $160.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. Finally, Wells Fargo & Company lowered their price target on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Five analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. Based on data from MarketBeat.com, Hershey has a consensus rating of “Hold” and a consensus price target of $164.15.

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.