The Hershey Company (NYSE:HSY) Stock Position Lifted by Huntington National Bank

Huntington National Bank grew its position in The Hershey Company (NYSE:HSYFree Report) by 5.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,110 shares of the company’s stock after purchasing an additional 398 shares during the period. Huntington National Bank’s holdings in Hershey were worth $1,423,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Baltimore Washington Financial Advisors Inc. increased its holdings in shares of Hershey by 1.2% during the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 25,810 shares of the company’s stock valued at $5,164,000 after acquiring an additional 300 shares during the last quarter. Pathstone Family Office LLC increased its holdings in shares of Hershey by 94.1% during the 3rd quarter. Pathstone Family Office LLC now owns 11,419 shares of the company’s stock valued at $2,285,000 after acquiring an additional 5,537 shares during the last quarter. Pine Valley Investments Ltd Liability Co increased its holdings in shares of Hershey by 44.9% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 5,714 shares of the company’s stock valued at $1,143,000 after acquiring an additional 1,770 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Hershey by 8.5% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 14,611 shares of the company’s stock valued at $2,923,000 after acquiring an additional 1,142 shares during the last quarter. Finally, Kennon Green & Company LLC increased its holdings in shares of Hershey by 0.7% during the 3rd quarter. Kennon Green & Company LLC now owns 14,111 shares of the company’s stock valued at $2,823,000 after acquiring an additional 101 shares during the last quarter. 56.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HSY. Piper Sandler lowered Hershey from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $240.00 to $200.00 in a report on Wednesday, November 29th. Mizuho reduced their price objective on Hershey from $195.00 to $180.00 and set a “neutral” rating for the company in a research report on Tuesday, October 31st. Sanford C. Bernstein upgraded Hershey from a “market perform” rating to an “outperform” rating and set a $235.00 price objective for the company in a research report on Monday, January 29th. Bank of America downgraded Hershey from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $250.00 to $200.00 in a research report on Friday, December 15th. Finally, Stifel Nicolaus raised their price objective on Hershey from $195.00 to $205.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Fifteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $228.00.

View Our Latest Research Report on Hershey

Hershey Trading Down 3.4 %

HSY stock opened at $195.45 on Friday. The business has a fifty day moving average price of $189.41 and a 200 day moving average price of $199.64. The Hershey Company has a fifty-two week low of $178.82 and a fifty-two week high of $276.88. The stock has a market capitalization of $39.97 billion, a price-to-earnings ratio of 21.60, a P/E/G ratio of 2.72 and a beta of 0.36. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.97 and a quick ratio of 0.63.

Hershey (NYSE:HSYGet Free Report) last released its quarterly earnings results on Thursday, February 8th. The company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.07. The firm had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Hershey had a return on equity of 51.79% and a net margin of 16.67%. The business’s revenue was up .2% on a year-over-year basis. During the same period last year, the firm posted $2.02 EPS. Analysts expect that The Hershey Company will post 9.59 EPS for the current fiscal year.

Hershey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th will be issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.80%. This is a positive change from Hershey’s previous quarterly dividend of $1.19. The ex-dividend date is Friday, February 16th. Hershey’s payout ratio is 52.71%.

Insider Activity

In other news, insider Charles R. Raup sold 2,065 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $191.85, for a total value of $396,170.25. Following the sale, the insider now directly owns 14,770 shares in the company, valued at $2,833,624.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Jennifer Mccalman sold 453 shares of Hershey stock in a transaction dated 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 of the company’s stock, valued at $369,681.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charles R. Raup sold 2,065 shares of Hershey stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $191.85, for a total value of $396,170.25. Following the completion of the sale, the insider now directly owns 14,770 shares in the company, valued at approximately $2,833,624.50. The disclosure for this sale can be found here. Insiders have sold a total of 7,018 shares of company stock worth $1,331,734 over the last three months. Corporate insiders own 0.34% of the company’s stock.

Hershey 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.

See Also

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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