Concord Wealth Partners Takes Position in The Hershey Company (NYSE:HSY)

Posted by Defense World Staff on Apr 13th, 2023

Concord Wealth Partners bought a new stake in shares of The Hershey Company (NYSE:HSY – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 309 shares of the company’s stock, valued at approximately $72,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC boosted its position in shares of 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 last quarter. Bogart Wealth LLC boosted its position in shares of 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 last quarter. Grandview Asset Management LLC boosted its position in shares of 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 last quarter. Zimmermann Investment Management & Planning LLC boosted its position in shares of 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 last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its position in shares of Hershey by 0.6% during the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 8,540 shares of the company’s stock valued at $1,978,000 after acquiring an additional 50 shares during the last quarter. 54.17% of the stock is currently owned by institutional investors.

Insider Transactions at Hershey

In other news, Director Pamela M. Arway sold 188 shares of the stock in a transaction on Monday, April 10th. The stock was sold at an average price of $259.20, for a total transaction of $48,729.60. Following the transaction, the director now owns 15,543 shares of the company’s stock, valued at approximately $4,028,745.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Rohit Grover sold 1,180 shares of the firm’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $243.79, for a total transaction of $287,672.20. Following the sale, the insider now owns 18,999 shares of the company’s stock, valued at $4,631,766.21. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Pamela M. Arway sold 188 shares of the firm’s stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $259.20, for a total value of $48,729.60. Following the sale, the director now directly owns 15,543 shares in the company, valued at approximately $4,028,745.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,243 shares of company stock valued at $12,166,177. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

HSY has been the topic of several recent research reports. Mizuho increased their price target on Hershey from $222.00 to $235.00 and gave the company a “neutral” rating in a report on Friday, March 24th. StockNews.com upgraded Hershey from a “hold” rating to a “buy” rating in a report on Sunday, March 26th. Evercore ISI increased their price target on Hershey from $250.00 to $255.00 and gave the company an “in-line” rating in a report on Thursday, March 23rd. Credit Suisse Group increased their price target on Hershey from $250.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. Finally, Jefferies Financial Group increased their price target on Hershey from $251.00 to $260.00 and gave the company a “hold” rating in a report on Thursday, March 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $250.40.

Hershey Stock Performance

HSY stock opened at $258.61 on Thursday. The company has a quick ratio of 0.44, a current ratio of 0.80 and a debt-to-equity ratio of 1.01. The business’s fifty day simple moving average is $244.15 and its two-hundred day simple moving average is $233.88. The Hershey Company has a twelve month low of $201.42 and a twelve month high of $261.17. The firm has a market cap of $52.77 billion, a price-to-earnings ratio of 32.49, a PEG ratio of 3.60 and a beta of 0.31.

Hershey (NYSE:HSY – Get Rating) last posted its quarterly earnings results on Thursday, February 2nd. The company reported $2.02 earnings per share (EPS) 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 quarter in the prior year, the company earned $1.69 EPS. The business’s revenue was up 14.0% compared to the same quarter last year. Analysts predict that The Hershey Company will post 9.37 earnings per share for the current year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Friday, February 17th were given a dividend of $1.036 per share. This represents a $4.14 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Thursday, February 16th. Hershey’s payout ratio is 52.01%.

Hershey Company Profile

(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.