Bank of Nova Scotia Grows Stock Holdings in The Hershey Company (NYSE:HSY)

Bank of Nova Scotia increased its holdings in shares of The Hershey Company (NYSE:HSY) by 4.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,782 shares of the company’s stock after purchasing an additional 885 shares during the period. Bank of Nova Scotia’s holdings in Hershey were worth $3,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in Hershey by 49.1% during the third quarter. Wellington Management Group LLP now owns 4,993 shares of the company’s stock worth $958,000 after acquiring an additional 1,645 shares during the period. Coldstream Capital Management Inc. grew its stake in shares of Hershey by 11.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,466 shares of the company’s stock worth $470,000 after purchasing an additional 252 shares during the period. Sunbelt Securities Inc. lifted its stake in shares of Hershey by 25.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,238 shares of the company’s stock valued at $238,000 after purchasing an additional 254 shares during the period. M&T Bank Corp boosted its holdings in Hershey by 3.6% during the third quarter. M&T Bank Corp now owns 34,468 shares of the company’s stock worth $6,610,000 after buying an additional 1,195 shares in the last quarter. Finally, Virtu Financial LLC grew its position in shares of Hershey by 83.1% during the 3rd quarter. Virtu Financial LLC now owns 14,170 shares of the company’s stock valued at $2,717,000 after acquiring an additional 6,433 shares during the period. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of the company’s 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 directly owns 2,682 shares of the company’s stock, valued at $396,936. This represents a 9.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on HSY shares. Barclays reduced their price objective on shares of Hershey from $170.00 to $160.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. TD Cowen dropped their target price on Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Mizuho reduced their price target on shares of Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $178.00 target price on shares of Hershey in a research report on Monday, February 3rd. Finally, Stifel Nicolaus dropped 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 analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company’s stock. According to MarketBeat.com, Hershey currently has a consensus rating of “Hold” and an average price target of $162.50.

Hershey Stock Performance

NYSE:HSY opened at $165.56 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 firm has a market capitalization of $33.51 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 5.90 and a beta of 0.28. The business’s fifty day moving average price is $167.39 and its 200 day moving average price is $171.29.

Hershey (NYSE:HSY) last released 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%. On average, sell-side analysts anticipate that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Friday, February 14th. Hershey’s payout ratio is 50.28%.

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.