Envestnet Portfolio Solutions Inc. Acquires 4,630 Shares of The Hershey Company (NYSE:HSY)

Envestnet Portfolio Solutions Inc. boosted its holdings in The Hershey Company (NYSE:HSY) by 36.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,235 shares of the company’s stock after purchasing an additional 4,630 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Hershey were worth $2,919,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Hershey in the 3rd quarter valued at $1,337,000. Principal Financial Group Inc. increased its stake in Hershey by 66.7% in 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 in the last quarter. Woodstock Corp raised its holdings in shares of Hershey by 34.8% during the fourth quarter. Woodstock Corp now owns 6,896 shares of the company’s stock valued at $1,168,000 after purchasing an additional 1,780 shares during the period. Elevate Capital Advisors LLC bought a new position in shares of Hershey during the 4th quarter worth about $1,939,000. Finally, Ethos Financial Group LLC grew its stake in shares of Hershey by 59.8% in the 4th quarter. Ethos Financial Group LLC now owns 3,962 shares of the company’s stock valued at $671,000 after buying an additional 1,483 shares during the period. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Price Performance

Shares of NYSE:HSY opened at $167.67 on Thursday. The company has a market capitalization of $33.94 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32. The company’s 50-day moving average is $162.39 and its 200 day moving average is $175.37. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96. The Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $211.92.

Hershey (NYSE:HSY) last released its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. On average, equities research analysts forecast that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date was Friday, February 14th. Hershey’s dividend payout ratio is currently 50.28%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Mizuho cut their price target on Hershey from $170.00 to $140.00 in a report on Wednesday, February 5th. Piper Sandler downgraded shares of Hershey from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $153.00 to $120.00 in a research report on Friday, January 31st. Wells Fargo & Company upped their price objective on shares of Hershey from $125.00 to $132.00 and gave the stock an “underweight” rating in a report on Friday, March 14th. DA Davidson decreased their target price on shares of Hershey from $164.00 to $149.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Finally, Stifel Nicolaus dropped their price target on shares of Hershey from $170.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday, February 7th. Five investment analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $163.75.

Insiders Place Their Bets

In related news, CAO Jennifer Mccalman sold 278 shares of Hershey stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $148.00, for a total value of $41,144.00. Following the completion of the sale, the chief accounting officer now owns 2,682 shares of the company’s stock, valued at approximately $396,936. This trade 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.

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.