Howard Capital Management Group LLC Acquires 1,907 Shares of The Hershey Company (NYSE:HSY)

Howard Capital Management Group LLC increased its stake in shares of The Hershey Company (NYSE:HSYFree Report) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,719 shares of the company’s stock after acquiring an additional 1,907 shares during the quarter. Hershey makes up about 1.4% of Howard Capital Management Group LLC’s portfolio, making the stock its 29th largest position. Howard Capital Management Group LLC’s holdings in Hershey were worth $16,168,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HSY. BlackRock Inc. boosted its holdings in Hershey by 3.2% in the second quarter. BlackRock Inc. now owns 15,160,022 shares of the company’s stock worth $3,785,458,000 after acquiring an additional 465,423 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Hershey by 1.5% during the third quarter. Vanguard Group Inc. now owns 14,911,173 shares of the company’s stock valued at $2,983,427,000 after buying an additional 222,960 shares during the last quarter. State Street Corp increased its position in shares of Hershey by 1.6% during the second quarter. State Street Corp now owns 7,144,337 shares of the company’s stock worth $1,783,941,000 after acquiring an additional 111,357 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Hershey by 9.1% in the 1st quarter. Geode Capital Management LLC now owns 3,489,322 shares of the company’s stock worth $886,746,000 after acquiring an additional 290,920 shares during the last quarter. Finally, Morgan Stanley lifted its position in Hershey by 57.2% in the 4th quarter. Morgan Stanley now owns 2,648,666 shares of the company’s stock valued at $613,352,000 after acquiring an additional 964,019 shares in the last quarter. 57.96% of the stock is owned by institutional investors.

Hershey Stock Down 2.9 %

Hershey stock opened at $192.26 on Tuesday. The Hershey Company has a 1-year low of $178.82 and a 1-year high of $276.88. The firm has a 50 day simple moving average of $193.20 and a 200 day simple moving average of $193.04. The company has a current ratio of 0.97, a quick ratio of 0.52 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $39.21 billion, a price-to-earnings ratio of 21.24, a P/E/G ratio of 3.04 and a beta of 0.34.

Hershey (NYSE:HSYGet Free Report) last posted its earnings results on Thursday, February 8th. The company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.95 by $0.07. The business had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Hershey had a net margin of 16.67% and a return on equity of 51.79%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.02 EPS. On average, analysts predict that The Hershey Company will post 9.59 earnings per share for the current year.

Hershey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th were paid a $1.37 dividend. This is a positive change from Hershey’s previous quarterly dividend of $1.19. This represents a $5.48 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date of this dividend was Friday, February 16th. Hershey’s dividend payout ratio is currently 60.55%.

Analyst Ratings Changes

Several analysts have recently commented on the company. Piper Sandler downgraded Hershey from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $240.00 to $200.00 in a research note on Wednesday, November 29th. Bank of America downgraded shares of Hershey from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $250.00 to $200.00 in a report on Friday, December 15th. DA Davidson began coverage on shares of Hershey in a report on Friday, December 8th. They issued a “neutral” rating and a $205.00 target price for the company. Wells Fargo & Company boosted their price target on shares of Hershey from $190.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. Finally, Citigroup assumed coverage on shares of Hershey in a research note on Thursday, February 1st. They issued a “neutral” rating and a $213.00 price objective for the company. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $228.33.

Get Our Latest Stock Analysis on Hershey

Insider Activity

In related news, insider Charles R. Raup sold 2,065 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $191.85, for a total value of $396,170.25. Following the transaction, the insider now directly owns 14,770 shares in the company, valued at $2,833,624.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $188.97, for a total value of $283,455.00. Following the completion of the transaction, the chief financial officer now directly owns 29,816 shares in the company, valued at $5,634,329.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charles R. Raup sold 2,065 shares of the firm’s 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 sale, the insider now owns 14,770 shares in the company, valued at approximately $2,833,624.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,018 shares of company stock worth $769,564. 0.22% of the stock is currently owned by insiders.

About Hershey

(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; 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.

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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