Franklin Resources Inc. Boosts Holdings in The Hershey Company (NYSE:HSY)

Franklin Resources Inc. lifted its stake in shares of The Hershey Company (NYSE:HSY) by 19.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 260,554 shares of the company’s stock after acquiring an additional 42,499 shares during the period. Franklin Resources Inc. owned 0.13% of Hershey worth $44,125,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of HSY. UNIVEST FINANCIAL Corp boosted its holdings in shares of Hershey by 1.5% in the 4th quarter. UNIVEST FINANCIAL Corp now owns 4,500 shares of the company’s stock valued at $762,000 after purchasing an additional 68 shares during the last quarter. OLD Point Trust & Financial Services N A grew its position in Hershey by 2.2% during the fourth quarter. OLD Point Trust & Financial Services N A now owns 3,240 shares of the company’s stock valued at $549,000 after acquiring an additional 70 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its position in Hershey by 1.3% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,546 shares of the company’s stock valued at $939,000 after acquiring an additional 70 shares during the period. Private Trust Co. NA increased its stake in Hershey by 1.5% during the fourth quarter. Private Trust Co. NA now owns 5,438 shares of the company’s stock worth $921,000 after acquiring an additional 81 shares during the last quarter. Finally, Waterfront Wealth Inc. raised its holdings in shares of Hershey by 1.4% in the 4th quarter. Waterfront Wealth Inc. now owns 5,744 shares of the company’s stock worth $973,000 after purchasing an additional 82 shares during the period. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Trading Down 2.8 %

HSY opened at $162.12 on Friday. The Hershey Company has a 12-month low of $140.13 and a 12-month high of $211.92. 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 stock has a market capitalization of $32.81 billion, a PE ratio of 14.87, a P/E/G ratio of 5.90 and a beta of 0.32. The firm’s fifty day moving average price is $165.54 and its 200 day moving average price is $172.88.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, topping 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%. As a group, research analysts expect that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were issued a $1.37 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.38%. Hershey’s dividend payout ratio (DPR) is 50.28%.

Insider Activity at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of the firm’s stock in a transaction dated 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 trade represents a 9.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HSY. Piper Sandler downgraded shares of Hershey from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $153.00 to $120.00 in a research report on Friday, January 31st. Bernstein Bank dropped their price objective on shares of Hershey from $177.00 to $146.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Bank of America restated a “neutral” rating and set a $180.00 target price on shares of Hershey in a report on Thursday, December 12th. DA Davidson lowered their price target on Hershey from $164.00 to $149.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Finally, TD Cowen decreased their target price on Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $162.50.

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.