The Hershey Company (NYSE:HSY) Shares Purchased by Ascent Group LLC

Posted by Defense World Staff on Mar 15th, 2023

Ascent Group LLC increased its holdings in shares of The Hershey Company (NYSE:HSY – Get Rating) by 69.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,179 shares of the company’s stock after purchasing an additional 2,122 shares during the quarter. Ascent Group LLC’s holdings in Hershey were worth $1,237,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in Hershey by 3.9% during the 2nd quarter. International Assets Investment Management LLC now owns 1,255 shares of the company’s stock valued at $270,000 after acquiring an additional 47 shares during the period. Bogart Wealth LLC boosted its holdings in Hershey by 3.5% during the 3rd quarter. Bogart Wealth LLC now owns 1,396 shares of the company’s stock valued at $308,000 after acquiring an additional 47 shares during the period. Grandview Asset Management LLC boosted its holdings in Hershey by 3.5% during the 3rd quarter. Grandview Asset Management LLC now owns 1,462 shares of the company’s stock valued at $322,000 after acquiring an additional 49 shares during the period. Zimmermann Investment Management & Planning LLC boosted its holdings in Hershey by 1.3% during the 3rd quarter. Zimmermann Investment Management & Planning LLC now owns 3,801 shares of the company’s stock valued at $838,000 after acquiring an additional 50 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in Hershey by 6.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 907 shares of the company’s stock valued at $200,000 after acquiring an additional 57 shares during the period. 54.17% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hershey

In other Hershey news, Director Pamela M. Arway sold 211 shares of the firm’s stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $225.97, for a total value of $47,679.67. Following the sale, the director now owns 15,561 shares in the company, valued at $3,516,319.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Charles R. Raup sold 1,512 shares of the business’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $236.38, for a total transaction of $357,406.56. Following the transaction, the insider now directly owns 13,713 shares in the company, valued at $3,241,478.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Pamela M. Arway sold 211 shares of the business’s stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $225.97, for a total transaction of $47,679.67. Following the completion of the transaction, the director now owns 15,561 shares in the company, valued at $3,516,319.17. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,076 shares of company stock valued at $7,990,284. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on HSY. Exane BNP Paribas started coverage on Hershey in a research report on Tuesday, November 15th. They set a “neutral” rating and a $235.00 price target on the stock. StockNews.com upgraded Hershey from a “hold” rating to a “buy” rating in a research note on Friday, March 10th. Wells Fargo & Company upped their price target on Hershey from $220.00 to $230.00 and gave the stock an “underweight” rating in a research note on Friday, February 3rd. BNP Paribas initiated coverage on Hershey in a research note on Tuesday, November 15th. They issued a “neutral” rating and a $235.00 target price for the company. Finally, UBS Group upgraded Hershey from a “neutral” rating to a “buy” rating and increased their target price for the company from $244.00 to $269.00 in a research note on Thursday, December 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $245.23.

Hershey Stock Up 0.6 %

Shares of HSY opened at $242.00 on Wednesday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.80 and a quick ratio of 0.44. The business’s 50 day simple moving average is $231.75 and its 200-day simple moving average is $229.87. The Hershey Company has a one year low of $201.42 and a one year high of $244.38. The company has a market capitalization of $49.38 billion, a P/E ratio of 30.40, a PEG ratio of 3.30 and a beta of 0.31.

Hershey (NYSE:HSY – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.77 by $0.25. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.58 billion. Hershey had a net margin of 15.79% and a return on equity of 57.76%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.69 EPS. As a group, sell-side analysts predict that The Hershey Company will post 9.39 EPS for the current fiscal year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Friday, February 17th will be issued a dividend of $1.036 per share. The ex-dividend date is Thursday, February 16th. This represents a $4.14 annualized dividend and a dividend yield of 1.71%. Hershey’s dividend payout ratio is presently 52.01%.

About Hershey

(Get Rating)

The Hershey Co engages in the manufacture and marketing of chocolate, sweets, mints and confectionery products. The firm operates through the following geographical segments: North America and International and Other. The North America is responsible for the traditional chocolate and non-chocolate confectionery market position of the company, as well as its grocery and snacks market positions, in the United States and Canada.