iA Global Asset Management Inc. Buys 5,972 Shares of The Hershey Company (NYSE:HSY)

iA Global Asset Management Inc. boosted its stake in shares of The Hershey Company (NYSE:HSY) by 325.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,808 shares of the company’s stock after purchasing an additional 5,972 shares during the quarter. iA Global Asset Management Inc.’s holdings in Hershey were worth $1,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Grove Bank & Trust boosted its holdings in Hershey by 248.0% in the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after acquiring an additional 124 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in Hershey in the fourth quarter worth about $29,000. ST Germain D J Co. Inc. boosted its holdings in Hershey by 61.7% in the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock worth $44,000 after acquiring an additional 100 shares in the last quarter. City State Bank boosted its holdings in Hershey by 210.0% in the fourth quarter. City State Bank now owns 310 shares of the company’s stock worth $52,000 after acquiring an additional 210 shares in the last quarter. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in Hershey in the fourth quarter worth about $54,000. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Up 1.8 %

Shares of HSY stock opened at $167.38 on Friday. The stock has a market cap of $33.88 billion, a P/E ratio of 15.36, a P/E/G ratio of 5.90 and a beta of 0.32. The Hershey Company has a twelve month low of $140.13 and a twelve month high of $211.92. The stock has a 50 day moving average of $162.61 and a 200 day moving average of $175.12. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68.

Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $2.69 EPS 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%. As a group, sell-side analysts expect that The Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were given 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 of this dividend was Friday, February 14th. Hershey’s dividend payout ratio (DPR) is presently 50.28%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on HSY shares. Wells Fargo & Company raised their price target on Hershey from $125.00 to $132.00 and gave the stock an “underweight” rating in a report on Friday, March 14th. Royal Bank of Canada restated a “sector perform” rating and issued a $178.00 price objective on shares of Hershey in a research note on Monday, February 3rd. Piper Sandler cut Hershey from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $153.00 to $120.00 in a research note on Friday, January 31st. UBS Group reduced their price objective on Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Stifel Nicolaus reduced their price objective on Hershey from $170.00 to $160.00 and set a “hold” rating for the company in a research note on Friday, February 7th. Five equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $163.75.

Insider Activity

In other news, CAO Jennifer Mccalman sold 278 shares of Hershey 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 directly owns 2,682 shares of the company’s stock, valued at $396,936. The trade was a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.34% of the company’s stock.

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.