Manulife arm buys $34.45M Hershey stake as institutions circle
What's the deal? The Manufacturers Life Insurance CompanyDealroom has a profile for this one. Try Dealroom → has acquired 196,337 shares in The Hershey CompanyDealroom has a profile for this one. Try Dealroom →, a stake worth roughly $34.45 million. That gives the insurer a 0.10% ownership position in the North American confectionery and snacks maker.
Why now? The purchase lands amid broader institutional repositioning in established consumer goods stocks. Firms including Bard AssociatesDealroom has a profile for this one. Try Dealroom →, Reflection Asset ManagementDealroom has a profile for this one. Try Dealroom →, Bell Investment AdvisorsDealroom has a profile for this one. Try Dealroom →, JPL Wealth ManagementDealroom has a profile for this one. Try Dealroom →, and Laurel Wealth AdvisorsDealroom has a profile for this one. Try Dealroom → also adjusted their Hershey holdings.
By the numbers: Hershey opened at $185.77 a share, carrying a market capitalisation of $37.33 billion. Its stock has swung between $161.43 and $239.48 over the past year, with a P/E ratio of 25.38 and a beta of 0.11.
The company posted a net margin of 12.24% and return on equity of 31.92% in its latest quarter. Earnings came in at $1.90 per share, beating analyst forecasts of $1.43.
What about shareholders? Hershey declared a quarterly dividend of $1.452 per share, an annualised yield of 3.1% on a payout ratio of 79.37%. Chief financial officer Steven E. Voskuil sold 1,500 shares at an average of $170 under a pre-arranged Rule 10b5-1 plan, a $255,000 transaction that trimmed his stake by about 2.74% to 53,195 shares.
What's the outlook? Analysts hold a consensus "Hold" rating, with an average target price of $204.78. Jefferies Financial GroupDealroom has a profile for this one. Try Dealroom → set a $190 target, UBSDealroom has a profile for this one. Try Dealroom → $198, and Stifel NicolausDealroom has a profile for this one. Try Dealroom → $180.
The signal: The move reflects how insurers and asset managers keep steering capital toward stable, dividend-paying consumer names. For a company like Hershey, that steady institutional interest underlines its position as a defensive holding in an uncertain market.
Read more: insurasales.com
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