Mengis Capital Management Inc. Has $5 Million Holdings in Hershey Company (The) $HSY

Mengis Capital Management Inc. lifted its position in Hershey Company (The) (NYSE:HSY) by 19.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 27,475 shares of the company’s stock after acquiring an additional 4,525 shares during the period. Hershey makes up about 0.9% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 29th largest position. Mengis Capital Management Inc.’s holdings in Hershey were worth $5,000,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. SHP Wealth Management bought a new position in shares of Hershey in the 4th quarter valued at about $52,000. Employees Provident Fund Board acquired a new position in shares of Hershey during the 4th quarter worth about $4,913,000. Reflection Asset Management bought a new stake in shares of Hershey in the 4th quarter valued at about $26,000. Sankala Group LLC bought a new stake in shares of Hershey in the 4th quarter valued at about $394,000. Finally, BDFS Capital LLC acquired a new stake in Hershey in the 4th quarter valued at about $682,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $194.10, for a total value of $291,150.00. Following the completion of the sale, the chief financial officer owned 57,695 shares of the company’s stock, valued at approximately $11,198,599.50. The trade was a 2.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company’s stock.

Hershey Price Performance

Shares of NYSE HSY opened at $172.38 on Friday. The firm has a market cap of $34.97 billion, a P/E ratio of 32.10, a price-to-earnings-growth ratio of 1.04 and a beta of 0.09. The company has a current ratio of 1.24, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. Hershey Company has a 1-year low of $160.07 and a 1-year high of $239.48. The business’s 50 day moving average is $188.34 and its 200-day moving average is $198.22.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, April 30th. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.31. Hershey had a return on equity of 28.98% and a net margin of 9.12%.The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the previous year, the company posted $2.09 EPS. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. Equities research analysts predict that Hershey Company will post 8.45 earnings per share for the current year.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were issued a dividend of $1.452 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $5.81 dividend on an annualized basis and a dividend yield of 3.4%. Hershey’s dividend payout ratio (DPR) is currently 108.19%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Morgan Stanley reduced their price target on Hershey from $247.00 to $227.00 and set an “overweight” rating for the company in a report on Thursday, April 23rd. UBS Group dropped their price objective on Hershey from $215.00 to $200.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Evercore raised Hershey from an “in-line” rating to an “outperform” rating and set a $255.00 price objective for the company in a research report on Wednesday, May 27th. TD Cowen upgraded Hershey from a “hold” rating to a “buy” rating and set a $210.00 target price for the company in a research note on Friday, May 1st. Finally, Wells Fargo & Company decreased their target price on Hershey from $220.00 to $200.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Seven analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $218.06.

About Hershey

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.