The Hershey Company (NYSE:HSY) Position Increased by Capital Investment Advisors LLC

Posted by Defense World Staff on Mar 19th, 2023

Capital Investment Advisors LLC increased its position in shares of The Hershey Company (NYSE:HSY – Get Rating) by 15.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,521 shares of the company’s stock after acquiring an additional 332 shares during the period. Capital Investment Advisors LLC’s holdings in Hershey were worth $584,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dupont Capital Management Corp raised its holdings in shares of Hershey by 26.3% during the third quarter. Dupont Capital Management Corp now owns 5,959 shares of the company’s stock worth $1,314,000 after acquiring an additional 1,241 shares in the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Hershey by 1.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 83,868 shares of the company’s stock valued at $18,490,000 after buying an additional 997 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in Hershey by 0.8% during the third quarter. Handelsbanken Fonder AB now owns 76,681 shares of the company’s stock valued at $16,906,000 after buying an additional 614 shares in the last quarter. Alpha Omega Wealth Management LLC raised its holdings in Hershey by 6.1% during the third quarter. Alpha Omega Wealth Management LLC now owns 1,310 shares of the company’s stock valued at $289,000 after buying an additional 75 shares in the last quarter. Finally, Joel Isaacson & Co. LLC bought a new position in Hershey during the third quarter valued at about $202,000. 54.17% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Hershey news, insider Charles R. Raup sold 1,512 shares of the firm’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 completion of the transaction, the insider now owns 13,713 shares in the company, valued at $3,241,478.94. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Hershey news, SVP Jason Reiman sold 400 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $245.00, for a total transaction of $98,000.00. Following the completion of the transaction, the senior vice president now owns 16,934 shares in the company, valued at $4,148,830. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Charles R. Raup sold 1,512 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $236.38, for a total transaction of $357,406.56. Following the transaction, the insider now owns 13,713 shares of the company’s stock, valued at approximately $3,241,478.94. The disclosure for this sale can be found here. Insiders sold a total of 48,727 shares of company stock worth $11,522,062 over the last quarter. Company insiders own 0.34% of the company’s stock.

Hershey Stock Down 0.8 %

HSY stock opened at $243.15 on Friday. The Hershey Company has a twelve month low of $201.42 and a twelve month high of $247.20. The company has a market cap of $49.61 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 3.40 and a beta of 0.31. The business’s 50-day simple moving average is $232.96 and its 200 day simple moving average is $230.21. The company has a quick ratio of 0.44, a current ratio of 0.80 and a debt-to-equity ratio of 1.01.

Hershey (NYSE:HSY – Get Rating) last released its earnings results on Thursday, February 2nd. The company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.25. Hershey had a return on equity of 57.76% and a net margin of 15.79%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period last year, the business earned $1.69 earnings per share. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, research analysts anticipate that The Hershey Company will post 9.39 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Shareholders of record on Friday, February 17th were paid a dividend of $1.036 per share. This represents a $4.14 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Thursday, February 16th. Hershey’s dividend payout ratio is 52.01%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. The Goldman Sachs Group raised their target price on Hershey from $255.00 to $277.00 in a report on Thursday, February 2nd. StockNews.com lowered Hershey from a “buy” rating to a “hold” rating in a report on Saturday. Morgan Stanley raised their price target on Hershey from $231.00 to $246.00 and gave the company an “equal weight” rating in a research report on Friday, February 3rd. Wells Fargo & Company raised their price target on Hershey from $220.00 to $230.00 and gave the company an “underweight” rating in a research report on Friday, February 3rd. Finally, UBS Group raised Hershey from a “neutral” rating to a “buy” rating and raised their price target for the company from $244.00 to $269.00 in a research report on Thursday, December 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $245.23.

Hershey Profile

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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.