Hershey Company (The) (NYSE:HSY) is Lipe & Dalton’s 6th Largest Position

Lipe & Dalton raised its position in shares of Hershey Company (The) (NYSE:HSY) by 390.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,220 shares of the company’s stock after buying an additional 25,653 shares during the period. Hershey comprises about 3.1% of Lipe & Dalton’s investment portfolio, making the stock its 6th biggest holding. Lipe & Dalton’s holdings in Hershey were worth $5,511,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Montag & Caldwell LLC purchased a new stake in shares of Hershey in the 4th quarter worth about $25,000. Putney Financial Group LLC purchased a new stake in shares of Hershey in the 4th quarter worth about $25,000. Crowley Wealth Management Inc. purchased a new stake in shares of Hershey in the 4th quarter worth about $28,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Hershey in the 4th quarter worth about $28,000. Finally, Proffitt & Goodson Inc. purchased a new stake in shares of Hershey in the 1st quarter worth about $28,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Up 0.3%

NYSE:HSY traded up $0.51 on Friday, reaching $171.74. 150,999 shares of the stock traded hands, compared to its average volume of 1,843,502. The company has a market capitalization of $34.79 billion, a price-to-earnings ratio of 21.24, a PEG ratio of 6.07 and a beta of 0.30. The company has a current ratio of 1.59, a quick ratio of 1.11 and a debt-to-equity ratio of 1.11. Hershey Company has a 12 month low of $140.13 and a 12 month high of $208.03. The company’s fifty day simple moving average is $165.40 and its 200 day simple moving average is $164.64.

Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, May 1st. The company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.15. Hershey had a net margin of 15.32% and a return on equity of 38.70%. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the business earned $3.07 EPS. Hershey’s revenue was down 13.8% compared to the same quarter last year. Equities analysts predict that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 16th were paid a $1.37 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.19%. Hershey’s dividend payout ratio is presently 67.57%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HSY. Sanford C. Bernstein raised their target price on shares of Hershey from $147.00 to $155.00 and gave the stock a “market perform” rating in a research report on Friday, May 2nd. UBS Group dropped their target price on shares of Hershey from $175.00 to $170.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. Morgan Stanley dropped their target price on shares of Hershey from $183.00 to $177.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. DA Davidson increased their price target on shares of Hershey from $162.00 to $163.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Finally, Royal Bank Of Canada decreased their price target on shares of Hershey from $178.00 to $175.00 and set a “sector perform” rating for the company in a research note on Friday, May 2nd. Six investment analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $158.84.

Insider Activity at Hershey

In related news, SVP James Turoff sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $175.00, for a total value of $227,500.00. Following the transaction, the senior vice president owned 25,321 shares of the company’s stock, valued at approximately $4,431,175. This trade represents a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michele Buck sold 19,290 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $175.00, for a total transaction of $3,375,750.00. Following the completion of the transaction, the chief executive officer directly owned 193,624 shares in the company, valued at approximately $33,884,200. The trade was a 9.06% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,107 shares of company stock valued at $9,008,118. Insiders own 0.34% of the company’s stock.

Hershey Profile

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.