The Hershey Company (NYSE:HSY) Shares Sold by Brookstone Capital Management

Posted by Defense World Staff on Mar 20th, 2023

Brookstone Capital Management lessened its holdings in The Hershey Company (NYSE:HSY – Get Rating) by 33.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,059 shares of the company’s stock after selling 3,476 shares during the quarter. Brookstone Capital Management’s holdings in Hershey were worth $1,593,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Beaird Harris Wealth Management LLC acquired a new position in Hershey in the 3rd quarter worth approximately $26,000. Zions Bancorporation N.A. increased its holdings in Hershey by 121.3% in the 1st quarter. Zions Bancorporation N.A. now owns 135 shares of the company’s stock worth $29,000 after buying an additional 74 shares during the period. Ronald Blue Trust Inc. acquired a new position in Hershey in the 2nd quarter worth approximately $33,000. Pittenger & Anderson Inc. increased its holdings in Hershey by 444.4% in the 3rd quarter. Pittenger & Anderson Inc. now owns 245 shares of the company’s stock worth $54,000 after buying an additional 200 shares during the period. Finally, American National Bank increased its holdings in Hershey by 359.3% in the 3rd quarter. American National Bank now owns 248 shares of the company’s stock worth $55,000 after buying an additional 194 shares during the period. Institutional investors and hedge funds own 54.17% of the company’s stock.

Hershey Trading Down 0.8 %

Shares of NYSE:HSY opened at $243.15 on Monday. The Hershey Company has a 1 year low of $201.42 and a 1 year high of $247.20. The firm has a market capitalization of $49.61 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 3.40 and a beta of 0.31. 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 moving average price is $232.96 and its 200-day moving average price is $230.25.

Hershey (NYSE:HSY – Get Rating) last announced its earnings results on Thursday, February 2nd. The company reported $2.02 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter last year, the firm posted $1.69 EPS. The business’s revenue was up 14.0% on a year-over-year basis. On average, equities research analysts forecast that The Hershey Company will post 9.39 earnings per share for the current fiscal year.

Hershey Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have commented on HSY. UBS Group upgraded Hershey from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $244.00 to $269.00 in a research report on Thursday, December 8th. The Goldman Sachs Group upped their price objective on Hershey from $255.00 to $277.00 in a research report on Thursday, February 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on Hershey from $236.00 to $246.00 and gave the stock a “hold” rating in a research report on Tuesday, December 6th. StockNews.com lowered Hershey from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Morgan Stanley upped their price objective on Hershey from $231.00 to $246.00 and gave the stock an “equal weight” rating in a research report on Friday, February 3rd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $245.23.

Insider Buying and Selling at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 173 shares of the firm’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $239.99, for a total value of $41,518.27. Following the transaction, the chief accounting officer now owns 2,702 shares in the company, valued at approximately $648,452.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Hershey news, CAO Jennifer Mccalman sold 173 shares of the firm’s stock in a transaction on Friday, February 24th. The stock was sold at an average price of $239.99, for a total value of $41,518.27. Following the transaction, the chief accounting officer now owns 2,702 shares in the company, valued at approximately $648,452.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jason Reiman sold 150 shares of the firm’s stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $234.83, for a total value of $35,224.50. Following the completion of the transaction, the senior vice president now owns 12,717 shares in the company, valued at approximately $2,986,333.11. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,727 shares of company stock worth $11,522,062. Corporate insiders own 0.34% of the company’s stock.

Hershey Company 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.