Meeder Asset Management Inc. lifted its stake in The Hershey Company (NYSE:HSY) by 5,924.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,233 shares of the company’s stock after buying an additional 31,698 shares during the quarter. Meeder Asset Management Inc.’s holdings in The Hershey were worth $5,099,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Twin Tree Management LP raised its stake in shares of The Hershey by 2,728.6% in the fourth quarter. Twin Tree Management LP now owns 198 shares of the company’s stock worth $30,000 after buying an additional 191 shares during the period. SOA Wealth Advisors LLC. bought a new position in shares of The Hershey in the fourth quarter worth about $30,000. ShoreHaven Wealth Partners LLC bought a new position in shares of The Hershey in the fourth quarter worth about $37,000. Childress Capital Advisors LLC bought a new position in shares of The Hershey in the fourth quarter worth about $37,000. Finally, Regent Peak Wealth Advisors LLC bought a new position in shares of The Hershey in the fourth quarter worth about $37,000. 52.12% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:HSY traded down $0.01 during trading on Tuesday, hitting $166.73. The company had a trading volume of 20,604 shares, compared to its average volume of 984,680. The Hershey Company has a one year low of $125.50 and a one year high of $167.80. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.44 and a quick ratio of 1.01. The stock has a market cap of $34.54 billion, a price-to-earnings ratio of 29.25, a price-to-earnings-growth ratio of 2.98 and a beta of 0.31. The company has a fifty day simple moving average of $159.17 and a two-hundred day simple moving average of $151.38.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 15th. Investors of record on Friday, May 21st will be paid a dividend of $0.804 per share. This represents a $3.22 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend is Thursday, May 20th. The Hershey’s dividend payout ratio is currently 55.71%.
Several analysts recently issued reports on HSY shares. Credit Suisse Group increased their target price on The Hershey from $172.00 to $175.00 and gave the stock an “outperform” rating in a research report on Friday, February 5th. Bank of America upgraded The Hershey from a “neutral” rating to a “buy” rating and set a $168.00 target price for the company in a research report on Wednesday, January 6th. Royal Bank of Canada upgraded The Hershey from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $157.00 to $170.00 in a research report on Monday, February 8th. Piper Sandler upgraded The Hershey from a “neutral” rating to an “overweight” rating in a research report on Tuesday, March 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on The Hershey from $160.00 to $162.00 and gave the stock a “hold” rating in a research report on Tuesday, April 27th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $165.33.
In other The Hershey news, SVP Christopher M. Scalia sold 8,021 shares of The Hershey stock in a transaction on Friday, March 12th. The stock was sold at an average price of $152.47, for a total transaction of $1,222,961.87. Following the completion of the sale, the senior vice president now directly owns 7,318 shares of the company’s stock, valued at approximately $1,115,775.46. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Pamela M. Arway sold 305 shares of The Hershey stock in a transaction on Thursday, April 8th. The shares were sold at an average price of $160.50, for a total value of $48,952.50. Following the sale, the director now directly owns 15,945 shares of the company’s stock, valued at $2,559,172.50. The disclosure for this sale can be found here. Insiders have sold a total of 18,926 shares of company stock valued at $2,914,171 over the last three months. 29.39% of the stock is owned by corporate insiders.
About The Hershey
The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products and pantry items. The company operates in two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.
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