B. Riley Wealth Advisors Inc. lessened its stake in The Hershey Company (NYSE:HSY – Get Rating) by 34.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,144 shares of the company’s stock after selling 1,629 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Hershey were worth $728,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. First Horizon Advisors Inc. increased its holdings in Hershey by 2.5% in the fourth quarter. First Horizon Advisors Inc. now owns 1,791 shares of the company’s stock valued at $415,000 after purchasing an additional 44 shares during the last quarter. Angeles Investment Advisors LLC increased its holdings in Hershey by 1.9% in the fourth quarter. Angeles Investment Advisors LLC now owns 2,350 shares of the company’s stock valued at $544,000 after purchasing an additional 44 shares during the last quarter. HM Payson & Co. increased its holdings in Hershey by 1.5% in the fourth quarter. HM Payson & Co. now owns 3,145 shares of the company’s stock valued at $728,000 after purchasing an additional 45 shares during the last quarter. Thoroughbred Financial Services LLC increased its holdings in shares of Hershey by 0.6% in the fourth quarter. Thoroughbred Financial Services LLC now owns 7,838 shares of the company’s stock worth $1,815,000 after acquiring an additional 46 shares in the last quarter. Finally, PFS Investments Inc. increased its holdings in shares of Hershey by 4.1% in the fourth quarter. PFS Investments Inc. now owns 1,159 shares of the company’s stock worth $268,000 after acquiring an additional 46 shares in the last quarter. Institutional investors own 54.96% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on HSY shares. Morgan Stanley increased their price target on Hershey from $246.00 to $256.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 11th. Barclays increased their price target on Hershey from $245.00 to $265.00 and gave the stock an “equal weight” rating in a report on Friday, April 28th. UBS Group increased their price target on Hershey from $269.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Deutsche Bank Aktiengesellschaft increased their price target on Hershey from $251.00 to $264.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Finally, Evercore ISI increased their price target on Hershey from $255.00 to $265.00 and gave the stock an “inline” rating in a report on Friday, April 28th. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $265.06.
Hershey Stock Performance
Hershey (NYSE:HSY – Get Rating) last issued its quarterly earnings results on Thursday, April 27th. The company reported $2.96 EPS for the quarter, beating the consensus estimate of $2.67 by $0.29. Hershey had a return on equity of 57.99% and a net margin of 15.81%. The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.91 billion. During the same period in the prior year, the firm posted $2.53 earnings per share. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. Analysts predict that The Hershey Company will post 9.49 earnings per share for the current fiscal year.
Hershey Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Friday, May 19th were paid a $1.036 dividend. The ex-dividend date of this dividend was Thursday, May 18th. This represents a $4.14 annualized dividend and a yield of 1.59%. Hershey’s dividend payout ratio is 50.24%.
Insider Buying and Selling at Hershey
In other Hershey news, major shareholder Hershey Trust Co Trustee In Tr sold 117,174 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $261.58, for a total value of $30,650,374.92. Following the sale, the insider now owns 2,138,425 shares in the company, valued at $559,369,211.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Jason Reiman sold 150 shares of the stock in a transaction that occurred on Monday, April 10th. The stock was sold at an average price of $259.20, for a total transaction of $38,880.00. Following the transaction, the senior vice president now owns 15,875 shares in the company, valued at $4,114,800. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Hershey Trust Co Trustee In Tr sold 117,174 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $261.58, for a total value of $30,650,374.92. Following the transaction, the insider now owns 2,138,425 shares in the company, valued at approximately $559,369,211.50. The disclosure for this sale can be found here. Insiders have sold 285,791 shares of company stock worth $74,644,492 over the last 90 days. Company insiders own 0.34% of the company’s stock.
About Hershey
The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.
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