HM Payson & Co. increased its position in shares of The Hershey Company (NYSE:HSY) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,581 shares of the company’s stock after acquiring an additional 80 shares during the quarter. HM Payson & Co.’s holdings in The Hershey were worth $545,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SOA Wealth Advisors LLC. purchased a new position in The Hershey during the fourth quarter worth approximately $30,000. Childress Capital Advisors LLC purchased a new position in The Hershey during the fourth quarter worth approximately $37,000. Amundi Pioneer Asset Management Inc. raised its stake in The Hershey by 19.3% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 427,082 shares of the company’s stock worth $65,057,000 after purchasing an additional 69,012 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in The Hershey during the fourth quarter worth approximately $3,913,000. Finally, Dimensional Fund Advisors LP raised its stake in The Hershey by 13.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 710,596 shares of the company’s stock worth $108,236,000 after purchasing an additional 82,099 shares during the period. Hedge funds and other institutional investors own 52.12% of the company’s stock.
A number of research firms have weighed in on HSY. Credit Suisse Group increased their price target on shares of The Hershey from $172.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, February 5th. Jefferies Financial Group raised their target price on shares of The Hershey from $157.00 to $162.00 and gave the company a “hold” rating in a research note on Tuesday, January 12th. Bank of America raised shares of The Hershey from a “neutral” rating to a “buy” rating and set a $168.00 target price on the stock in a research note on Wednesday, January 6th. Royal Bank of Canada raised shares of The Hershey from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $157.00 to $170.00 in a research note on Monday, February 8th. Finally, Piper Sandler raised shares of The Hershey from a “neutral” rating to an “overweight” rating in a research note on Tuesday, March 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The Hershey currently has a consensus rating of “Hold” and a consensus target price of $158.43.
Shares of HSY stock opened at $160.57 on Thursday. The firm has a market cap of $33.26 billion, a P/E ratio of 28.17, a P/E/G ratio of 2.98 and a beta of 0.31. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.44 and a quick ratio of 1.01. The Hershey Company has a 1-year low of $125.50 and a 1-year high of $161.71. The firm has a fifty day moving average of $152.94 and a two-hundred day moving average of $148.99.
The Hershey (NYSE:HSY) last posted its quarterly earnings results on Wednesday, February 3rd. The company reported $1.49 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.06. The Hershey had a net margin of 14.87% and a return on equity of 70.30%. The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same period in the previous year, the business posted $1.28 EPS. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, sell-side analysts expect that The Hershey Company will post 6.23 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Friday, February 19th were issued a $0.804 dividend. This represents a $3.22 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Thursday, February 18th. The Hershey’s dividend payout ratio (DPR) is presently 55.71%.
In related news, CEO Michele Buck sold 2,500 shares of The Hershey stock in a transaction dated Monday, March 29th. The shares were sold at an average price of $158.80, for a total value of $397,000.00. Following the sale, the chief executive officer now directly owns 187,997 shares in the company, valued at approximately $29,853,923.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Pamela M. Arway sold 278 shares of The Hershey stock in a transaction dated Friday, January 8th. The shares were sold at an average price of $151.46, for a total transaction of $42,105.88. Following the completion of the sale, the director now owns 15,994 shares in the company, valued at $2,422,451.24. The disclosure for this sale can be found here. Insiders sold a total of 18,899 shares of company stock valued at $2,875,200 over the last ninety days. Company insiders own 29.39% of the company’s stock.
The Hershey Profile
The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products and pantry items. The company operates in two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.
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