SouthState Corp Purchases 146 Shares of The Hershey Company (NYSE:HSY)

SouthState Corp raised its position in The Hershey Company (NYSE:HSYGet Rating) by 365.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 186 shares of the company’s stock after acquiring an additional 146 shares during the period. SouthState Corp’s holdings in Hershey were worth $40,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Whittier Trust Co. increased its position in shares of Hershey by 3.0% during the 1st quarter. Whittier Trust Co. now owns 1,545 shares of the company’s stock worth $335,000 after purchasing an additional 45 shares during the last quarter. Relyea Zuckerberg Hanson LLC increased its position in shares of Hershey by 3.8% during the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 1,303 shares of the company’s stock worth $294,000 after purchasing an additional 48 shares during the last quarter. JFS Wealth Advisors LLC increased its position in shares of Hershey by 7.4% during the 4th quarter. JFS Wealth Advisors LLC now owns 722 shares of the company’s stock worth $140,000 after purchasing an additional 50 shares during the last quarter. Field & Main Bank increased its position in shares of Hershey by 1.8% during the 1st quarter. Field & Main Bank now owns 2,835 shares of the company’s stock worth $614,000 after purchasing an additional 50 shares during the last quarter. Finally, Econ Financial Services Corp increased its position in shares of Hershey by 6.1% during the 1st quarter. Econ Financial Services Corp now owns 864 shares of the company’s stock worth $187,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 52.96% of the company’s stock.

Hershey Stock Performance

HSY opened at $227.11 on Friday. The business has a fifty day simple moving average of $216.55 and a 200 day simple moving average of $213.48. The company has a market capitalization of $46.55 billion, a PE ratio of 28.89, a price-to-earnings-growth ratio of 3.58 and a beta of 0.34. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.74 and a quick ratio of 0.37. The Hershey Company has a 1 year low of $167.80 and a 1 year high of $231.96.

Hershey (NYSE:HSYGet Rating) last released its earnings results on Thursday, July 28th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.11. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.24 billion. Hershey had a return on equity of 60.62% and a net margin of 16.76%. The company’s revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.47 EPS. Research analysts expect that The Hershey Company will post 8.21 EPS for the current year.

Hershey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Friday, August 19th will be given a dividend of $1.036 per share. This represents a $4.14 dividend on an annualized basis and a dividend yield of 1.82%. This is an increase from Hershey’s previous quarterly dividend of $0.90. The ex-dividend date of this dividend is Thursday, August 18th. Hershey’s dividend payout ratio is presently 45.80%.

Insider Activity

In other news, major shareholder Hershey Trust Co Trustee In Tr sold 167,095 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $222.40, for a total transaction of $37,161,928.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Michele Buck sold 5,000 shares of the company’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $224.75, for a total transaction of $1,123,750.00. Following the completion of the sale, the chief executive officer now directly owns 190,555 shares in the company, valued at approximately $42,827,236.25. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Hershey Trust Co Trustee In Tr sold 167,095 shares of the company’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $222.40, for a total value of $37,161,928.00. The disclosure for this sale can be found here. In the last three months, insiders sold 866,588 shares of company stock worth $191,036,015. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

HSY has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on Hershey from $219.00 to $227.00 in a research report on Friday, July 29th. Royal Bank of Canada boosted their target price on Hershey from $214.00 to $237.00 in a report on Friday, April 29th. Mizuho boosted their target price on Hershey from $200.00 to $210.00 in a report on Friday, April 29th. BMO Capital Markets boosted their target price on Hershey from $215.00 to $255.00 in a report on Friday, April 29th. Finally, StockNews.com raised Hershey from a “hold” rating to a “buy” rating in a report on Saturday, May 7th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Hershey presently has a consensus rating of “Moderate Buy” and a consensus price target of $219.64.

Hershey Profile

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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, meat snacks, bars and snack bites, mixes, popcorn, and protein bars.

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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