Commerce Bank boosted its position in shares of Hershey Co (NYSE:HSY) by 149.0% in the first quarter, Holdings Channel reports. The firm owned 32,301 shares of the company’s stock after purchasing an additional 19,329 shares during the period. Commerce Bank’s holdings in Hershey were worth $4,280,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of HSY. Truvestments Capital LLC acquired a new position in Hershey during the first quarter valued at approximately $26,000. Ballast Advisors LLC bought a new stake in shares of Hershey in the first quarter worth $27,000. CBIZ Investment Advisory Services LLC bought a new stake in shares of Hershey in the fourth quarter worth $28,000. CLS Investments LLC bought a new stake in shares of Hershey in the fourth quarter worth $29,000. Finally, Cox Capital Mgt LLC bought a new stake in shares of Hershey in the first quarter worth $29,000. Hedge funds and other institutional investors own 52.66% of the company’s stock.
Several research firms have issued reports on HSY. Stifel Nicolaus dropped their price target on shares of Hershey from $145.00 to $135.00 and set a “hold” rating on the stock in a research report on Friday, April 24th. UBS Group upped their price target on shares of Hershey from $147.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Cfra lowered shares of Hershey from a “hold” rating to a “sell” rating and dropped their price target for the stock from $150.00 to $125.00 in a research report on Thursday, April 23rd. Piper Sandler lowered shares of Hershey from an “overweight” rating to a “neutral” rating and set a $138.00 price target on the stock. in a research report on Friday, April 24th. Finally, Bank of America reaffirmed a “neutral” rating and set a $140.00 price target (down from $143.00) on shares of Hershey in a research report on Friday, April 24th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $143.63.
HSY stock opened at $130.26 on Friday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.70 and a current ratio of 0.99. The company’s 50-day simple moving average is $137.00 and its 200 day simple moving average is $144.73. Hershey Co has a 52 week low of $109.88 and a 52 week high of $162.20. The company has a market capitalization of $26.63 billion, a PE ratio of 24.62, a price-to-earnings-growth ratio of 2.91 and a beta of 0.17.
Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, April 23rd. The company reported $1.63 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.08). Hershey had a net margin of 13.94% and a return on equity of 71.52%. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the company posted $1.59 earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. On average, analysts forecast that Hershey Co will post 5.75 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 22nd will be paid a $0.773 dividend. The ex-dividend date of this dividend is Thursday, May 21st. This represents a $3.09 annualized dividend and a dividend yield of 2.37%. Hershey’s dividend payout ratio (DPR) is presently 53.46%.
In other Hershey news, Director Pamela M. Arway sold 347 shares of the stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $142.37, for a total transaction of $49,402.39. Following the sale, the director now directly owns 15,945 shares in the company, valued at $2,270,089.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michele Buck sold 1,500 shares of the stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $143.20, for a total transaction of $214,800.00. Following the sale, the chief executive officer now owns 170,121 shares in the company, valued at $24,361,327.20. The disclosure for this sale can be found here. Insiders sold 3,347 shares of company stock worth $493,657 over the last 90 days. 29.39% of the stock is currently owned by corporate insiders.
The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through 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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