The Hershey Company (NYSE:HSY) Shares Bought by Allworth Financial LP

Posted by Defense World Staff on Mar 26th, 2023

Allworth Financial LP raised its position in The Hershey Company (NYSE:HSY – Get Rating) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,779 shares of the company’s stock after acquiring an additional 50 shares during the period. Allworth Financial LP’s holdings in Hershey were worth $412,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Blair William & Co. IL lifted its stake in shares of Hershey by 3.1% during the first quarter. Blair William & Co. IL now owns 30,767 shares of the company’s stock worth $6,665,000 after buying an additional 916 shares during the period. Dakota Wealth Management acquired a new stake in shares of Hershey during the first quarter worth $238,000. Sequoia Financial Advisors LLC lifted its stake in shares of Hershey by 28.8% during the first quarter. Sequoia Financial Advisors LLC now owns 1,566 shares of the company’s stock worth $339,000 after buying an additional 350 shares during the period. Vanguard Group Inc. lifted its stake in shares of Hershey by 1.6% during the first quarter. Vanguard Group Inc. now owns 14,057,990 shares of the company’s stock worth $3,045,383,000 after buying an additional 216,715 shares during the period. Finally, Candriam Luxembourg S.C.A. lifted its stake in shares of Hershey by 10.8% during the first quarter. Candriam Luxembourg S.C.A. now owns 32,183 shares of the company’s stock worth $6,972,000 after buying an additional 3,129 shares during the period. 54.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on HSY shares. Wells Fargo & Company lifted their price objective on shares of Hershey from $220.00 to $230.00 and gave the stock an “underweight” rating in a research note on Friday, February 3rd. UBS Group upgraded shares of Hershey from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $244.00 to $269.00 in a research note on Thursday, December 8th. Evercore ISI raised their target price on shares of Hershey from $250.00 to $255.00 and gave the stock an “in-line” rating in a report on Thursday. The Goldman Sachs Group raised their target price on shares of Hershey from $255.00 to $277.00 in a report on Thursday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Hershey from $237.00 to $251.00 in a report on Thursday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $248.07.

Insider Transactions at Hershey

In other news, CAO Jennifer Mccalman sold 109 shares of the business’s stock in a transaction dated Thursday, March 23rd. The shares were sold at an average price of $243.23, for a total transaction of $26,512.07. Following the completion of the sale, the chief accounting officer now owns 2,450 shares of the company’s stock, valued at $595,913.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Rohit Grover sold 1,180 shares of the business’s stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $243.79, for a total transaction of $287,672.20. Following the transaction, the insider now directly owns 18,999 shares in the company, valued at $4,631,766.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jennifer Mccalman sold 109 shares of the business’s stock in a transaction dated Thursday, March 23rd. The stock was sold at an average price of $243.23, for a total transaction of $26,512.07. Following the transaction, the chief accounting officer now owns 2,450 shares in the company, valued at $595,913.50. The disclosure for this sale can be found here. Insiders sold 50,365 shares of company stock valued at $11,921,873 over the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Hershey Stock Up 1.6 %

HSY opened at $247.86 on Friday. The stock has a market capitalization of $50.57 billion, a price-to-earnings ratio of 31.14, a PEG ratio of 3.38 and a beta of 0.31. The company has a fifty day moving average of $234.86 and a two-hundred day moving average of $230.90. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.44 and a current ratio of 0.80. The Hershey Company has a fifty-two week low of $201.42 and a fifty-two week high of $248.32.

Hershey (NYSE:HSY – Get Rating) last released its earnings results on Thursday, February 2nd. The company reported $2.02 EPS for the quarter, topping 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 company’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.69 earnings per share. On average, research analysts expect that The Hershey Company will post 9.37 earnings per share for the current year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Friday, February 17th were paid a dividend of $1.036 per share. The ex-dividend date of this dividend was Thursday, February 16th. This represents a $4.14 dividend on an annualized basis and a dividend yield of 1.67%. Hershey’s dividend payout ratio is currently 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.