Millstone Evans Group LLC Acquires New Position in The Hershey Company (NYSE:HSY)

Millstone Evans Group LLC acquired a new stake in shares of The Hershey Company (NYSE:HSY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,141 shares of the company’s stock, valued at approximately $193,000.

A number of other large investors also recently modified their holdings of the company. State Street Corp increased its stake in Hershey by 5.8% in the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after purchasing an additional 386,670 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Hershey by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company’s stock worth $785,003,000 after purchasing an additional 247,675 shares during the period. Geode Capital Management LLC increased its stake in Hershey by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,753,751 shares of the company’s stock worth $717,606,000 after purchasing an additional 35,688 shares during the period. Principal Financial Group Inc. increased its stake in Hershey by 66.7% in the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after purchasing an additional 389,404 shares during the period. Finally, Stifel Financial Corp increased its stake in Hershey by 3.2% in the 3rd quarter. Stifel Financial Corp now owns 964,748 shares of the company’s stock worth $185,027,000 after purchasing an additional 29,507 shares during the period. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Stock Up 1.8 %

HSY stock opened at $167.38 on Friday. The stock has a market capitalization of $33.88 billion, a P/E ratio of 15.36, a P/E/G ratio of 5.90 and a beta of 0.32. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $211.92. The business has a fifty day moving average price of $162.61 and a 200-day moving average price of $174.96.

Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. Equities analysts forecast that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend was Friday, February 14th. Hershey’s payout ratio is 50.28%.

Insider Transactions at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $148.00, for a total value of $41,144.00. Following the transaction, the chief accounting officer now owns 2,682 shares of the company’s stock, valued at $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

HSY has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on Hershey from $184.00 to $148.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Citigroup raised Hershey from a “sell” rating to a “neutral” rating and reduced their target price for the company from $159.00 to $154.00 in a research note on Friday, February 7th. Piper Sandler cut Hershey from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $153.00 to $120.00 in a research note on Friday, January 31st. DA Davidson reduced their target price on Hershey from $164.00 to $149.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $178.00 target price on shares of Hershey in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $163.75.

About Hershey

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; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.