The Hershey Company (NYSE:HSY) Shares Acquired by Kennon Green & Company LLC

Kennon Green & Company LLC increased its holdings in The Hershey Company (NYSE:HSY) by 7.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,173 shares of the company’s stock after purchasing an additional 1,062 shares during the quarter. Hershey accounts for 2.9% of Kennon Green & Company LLC’s holdings, making the stock its 11th biggest position. Kennon Green & Company LLC’s holdings in Hershey were worth $2,829,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Silver Oak Securities Incorporated raised its holdings in Hershey by 78,757.1% during the 4th quarter. Silver Oak Securities Incorporated now owns 5,520 shares of the company’s stock worth $1,029,000 after purchasing an additional 5,513 shares during the last quarter. Intellectus Partners LLC bought a new stake in Hershey during the fourth quarter valued at $718,000. Transcend Capital Advisors LLC lifted its position in Hershey by 8.8% in the 4th quarter. Transcend Capital Advisors LLC now owns 5,031 shares of the company’s stock valued at $938,000 after acquiring an additional 408 shares in the last quarter. Intact Investment Management Inc. purchased a new position in Hershey in the fourth quarter valued at about $3,039,000. Finally, Terril Brothers Inc. bought a new stake in Hershey during the fourth quarter valued at approximately $4,426,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on HSY. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $213.00 price objective on shares of Hershey in a research note on Friday, March 15th. Barclays raised their price objective on Hershey from $200.00 to $210.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Piper Sandler dropped their target price on Hershey from $200.00 to $179.00 and set a “neutral” rating on the stock in a report on Monday, April 15th. Citigroup lowered their price target on Hershey from $213.00 to $199.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Finally, Morgan Stanley downgraded Hershey from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $191.00 to $183.00 in a research note on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Hershey presently has an average rating of “Hold” and a consensus price target of $212.78.

Hershey Trading Up 2.5 %

NYSE:HSY traded up $4.72 on Monday, reaching $190.88. 1,616,563 shares of the stock traded hands, compared to its average volume of 1,940,852. The firm has a market capitalization of $38.93 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 2.86 and a beta of 0.34. The Hershey Company has a 1-year low of $178.82 and a 1-year high of $276.88. The company’s 50 day moving average is $191.74 and its 200-day moving average is $190.61. The company has a current ratio of 0.97, a quick ratio of 0.52 and a debt-to-equity ratio of 0.92.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, February 8th. The company reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.95 by $0.07. Hershey had a return on equity of 51.79% and a net margin of 16.67%. The company had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.72 billion. During the same period in the prior year, the firm earned $2.02 earnings per share. Hershey’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts anticipate that The Hershey Company will post 9.6 EPS for the current fiscal year.

Hershey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 20th were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 2.87%. This is a positive change from Hershey’s previous quarterly dividend of $1.19. The ex-dividend date was Friday, February 16th. Hershey’s dividend payout ratio (DPR) is presently 60.55%.

Insider Activity

In related news, CAO Jennifer Mccalman sold 453 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $198.54, for a total value of $89,938.62. Following the sale, the chief accounting officer now owns 1,862 shares in the company, valued at approximately $369,681.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $197.90, for a total value of $296,850.00. Following the sale, the chief financial officer now directly owns 40,228 shares of the company’s stock, valued at $7,961,121.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Jennifer Mccalman sold 453 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $198.54, for a total transaction of $89,938.62. Following the completion of the sale, the chief accounting officer now owns 1,862 shares in the company, valued at $369,681.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,453 shares of company stock valued at $665,534. Insiders own 0.29% 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; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.