MAI Capital Management Grows Position in The Hershey Company (NYSE:HSY)

Posted by Defense World Staff on Aug 24th, 2023

MAI Capital Management grew its position in The Hershey Company (NYSE:HSY – Free Report) by 3.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,741 shares of the company’s stock after purchasing an additional 53 shares during the period. MAI Capital Management’s holdings in Hershey were worth $443,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Weiss Asset Management LP purchased a new position in Hershey during the first quarter valued at approximately $1,323,000. Qsemble Capital Management LP acquired a new position in shares of Hershey in the 1st quarter valued at $1,616,000. Vantage Consulting Group Inc purchased a new stake in Hershey during the first quarter worth $205,000. Clearstead Trust LLC grew its position in Hershey by 10.3% during the first quarter. Clearstead Trust LLC now owns 14,674 shares of the company’s stock valued at $3,733,000 after buying an additional 1,366 shares during the period. Finally, ICW Investment Advisors LLC raised its position in shares of Hershey by 1.5% in the first quarter. ICW Investment Advisors LLC now owns 9,427 shares of the company’s stock worth $2,399,000 after acquiring an additional 140 shares during the period. 54.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Michele Buck sold 14,251 shares of the company’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $238.73, for a total value of $3,402,141.23. Following the transaction, the chief executive officer now owns 111,751 shares of the company’s stock, valued at approximately $26,678,316.23. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Michele Buck sold 14,251 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $238.73, for a total value of $3,402,141.23. Following the sale, the chief executive officer now directly owns 111,751 shares of the company’s stock, valued at approximately $26,678,316.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jason Reiman sold 150 shares of the company’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $256.21, for a total transaction of $38,431.50. Following the completion of the transaction, the senior vice president now owns 15,575 shares in the company, valued at $3,990,470.75. The disclosure for this sale can be found here. Insiders sold a total of 278,510 shares of company stock valued at $72,335,743 over the last quarter. 0.22% of the stock is owned by insiders.

Hershey Stock Up 0.7 %

Shares of NYSE:HSY opened at $215.27 on Thursday. The Hershey Company has a 52-week low of $211.49 and a 52-week high of $276.88. The company has a quick ratio of 0.55, a current ratio of 1.06 and a debt-to-equity ratio of 1.11. The business has a fifty day moving average of $239.38 and a two-hundred day moving average of $248.88. The stock has a market cap of $44.02 billion, a P/E ratio of 24.77, a PEG ratio of 2.66 and a beta of 0.28.

Hershey (NYSE:HSY – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The company reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.12. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Hershey had a net margin of 16.49% and a return on equity of 55.74%. Hershey’s revenue was up 5.0% compared to the same quarter last year. During the same period last year, the business earned $1.80 earnings per share. On average, research analysts expect that The Hershey Company will post 9.54 earnings per share for the current year.

Hershey Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be given a $1.192 dividend. This represents a $4.77 annualized dividend and a yield of 2.21%. This is a positive change from Hershey’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend is Thursday, August 17th. Hershey’s dividend payout ratio is presently 54.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on HSY shares. UBS Group raised their target price on Hershey from $269.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, April 28th. StockNews.com started coverage on shares of Hershey in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Evercore ISI boosted their price target on shares of Hershey from $255.00 to $265.00 and gave the stock an “inline” rating in a report on Friday, April 28th. Argus decreased their price objective on shares of Hershey from $315.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, August 11th. Finally, Stifel Nicolaus boosted their target price on shares of Hershey from $243.00 to $260.00 and gave the stock a “hold” rating in a research note on Friday, April 28th. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $262.11.

Read Our Latest Analysis on Hershey

Hershey Company Profile

(Free Report)

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.