Wealth Enhancement Advisory Services LLC increased its position in shares of The Hershey Company (NYSE:HSY) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,132 shares of the company’s stock after acquiring an additional 1,314 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in The Hershey were worth $6,452,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of HSY. Certified Advisory Corp bought a new position in shares of The Hershey in the first quarter worth $25,000. Wealthcare Advisory Partners LLC bought a new position in The Hershey in the 1st quarter worth about $27,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of The Hershey by 77.9% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 338 shares of the company’s stock valued at $29,000 after acquiring an additional 148 shares in the last quarter. Twin Tree Management LP boosted its position in shares of The Hershey by 2,728.6% during the 4th quarter. Twin Tree Management LP now owns 198 shares of the company’s stock valued at $30,000 after acquiring an additional 191 shares during the last quarter. Finally, SOA Wealth Advisors LLC. bought a new stake in The Hershey during the fourth quarter valued at approximately $30,000. Institutional investors and hedge funds own 52.18% of the company’s stock.
In other news, SVP Christopher M. Scalia sold 3,100 shares of the business’s stock in a transaction on Wednesday, March 17th. The shares were sold at an average price of $155.47, for a total transaction of $481,957.00. Following the sale, the senior vice president now owns 8,868 shares in the company, valued at approximately $1,378,707.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Pamela M. Arway sold 305 shares of the company’s stock in a transaction dated Thursday, April 8th. The stock was sold at an average price of $160.50, for a total transaction of $48,952.50. Following the completion of the sale, the director now directly owns 15,945 shares in the company, valued at $2,559,172.50. The disclosure for this sale can be found here. Insiders sold 22,882 shares of company stock valued at $3,833,173 over the last 90 days. 0.32% of the stock is currently owned by company insiders.
The Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, April 29th. The company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.12. The Hershey had a net margin of 16.69% and a return on equity of 66.00%. The business had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter in the previous year, the business posted $1.63 earnings per share. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. Equities research analysts forecast that The Hershey Company will post 6.88 EPS for the current year.
The business 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 $0.804 dividend. This represents a $3.22 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Thursday, May 20th. The Hershey’s payout ratio is currently 51.19%.
A number of research firms have weighed in on HSY. Citigroup raised their price target on The Hershey from $172.00 to $187.00 in a research report on Monday, May 3rd. Morgan Stanley lifted their price target on shares of The Hershey from $152.00 to $166.00 and gave the stock an “equal weight” rating in a research note on Friday, April 30th. The Goldman Sachs Group raised shares of The Hershey from a “neutral” rating to a “buy” rating and upped their price objective for the company from $171.00 to $181.00 in a research note on Thursday, April 15th. Piper Sandler upgraded shares of The Hershey from a “neutral” rating to an “overweight” rating in a research report on Tuesday, March 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of The Hershey from $160.00 to $162.00 and gave the stock a “hold” rating in a research note on Wednesday, April 21st. Seven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $165.33.
The Hershey Company Profile
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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