9258 Wealth Management LLC Lowers Position in The Hershey Company (NYSE:HSY)

Financial News Live · Feb 6, 2023 01:51

9258 Wealth Management LLC cut its stake in The Hershey Company (NYSE:HSY – Get Rating) by 8.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,161 shares of the company's stock after selling 203 shares during the quarter. 9258 Wealth Management LLC's holdings in Hershey were worth $476,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Beaird Harris Wealth Management LLC purchased a new stake in shares of Hershey during the third quarter valued at approximately $26,000. Zions Bancorporation N.A. increased its position in shares of Hershey by 121.3% during the first quarter. Zions Bancorporation N.A. now owns 135 shares of the company's stock valued at $29,000 after acquiring an additional 74 shares during the last quarter. Ronald Blue Trust Inc. purchased a new stake in shares of Hershey during the second quarter valued at approximately $33,000. American National Bank increased its position in shares of Hershey by 359.3% during the third quarter. American National Bank now owns 248 shares of the company's stock valued at $55,000 after acquiring an additional 194 shares during the last quarter. Finally, Glassman Wealth Services increased its position in shares of Hershey by 93.7% during the second quarter. Glassman Wealth Services now owns 275 shares of the company's stock valued at $59,000 after acquiring an additional 133 shares during the last quarter. 54.17% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Morgan Stanley increased their price target on Hershey from $231.00 to $246.00 and gave the company an "equal weight" rating in a research report on Friday. Exane BNP Paribas initiated coverage on Hershey in a report on Tuesday, November 15th. They set a "neutral" rating and a $235.00 price objective for the company. UBS Group raised Hershey from a "neutral" rating to a "buy" rating and increased their price objective for the company from $244.00 to $269.00 in a report on Thursday, December 8th. Credit Suisse Group increased their price objective on Hershey from $250.00 to $260.00 and gave the company an "outperform" rating in a report on Friday. Finally, BNP Paribas initiated coverage on Hershey in a report on Tuesday, November 15th. They set a "neutral" rating and a $235.00 price objective for the company. One analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Hershey currently has a consensus rating of "Hold" and a consensus target price of $243.71.

Hershey Price Performance

Hershey stock opened at $236.28 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.80 and a quick ratio of 0.45. The Hershey Company has a one year low of $193.09 and a one year high of $242.63. The firm has a market capitalization of $48.46 billion, a P/E ratio of 29.68, a PEG ratio of 3.43 and a beta of 0.35. The business has a fifty day moving average price of $229.38 and a 200-day moving average price of $227.43.

Hershey (NYSE:HSY – Get Rating) last issued its quarterly earnings data on Thursday, February 2nd. The company reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.77 by $0.25. Hershey had a return on equity of 57.76% and a net margin of 15.79%. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the business posted $1.69 earnings per share. The firm's revenue was up 14.0% compared to the same quarter last year. As a group, equities research analysts forecast that The Hershey Company will post 9.39 EPS for the current year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Friday, February 17th will be given a $1.036 dividend. The ex-dividend date of this dividend is Thursday, February 16th. This represents a $4.14 dividend on an annualized basis and a dividend yield of 1.75%. Hershey's dividend payout ratio (DPR) is presently 52.01%.

Insider Buying and Selling

In other Hershey news, Director Pamela M. Arway sold 211 shares of the firm's stock in a transaction dated Tuesday, January 10th. The stock was sold at an average price of $225.97, for a total transaction of $47,679.67. Following the sale, the director now owns 15,561 shares in the company, valued at $3,516,319.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Hershey news, Director Pamela M. Arway sold 211 shares of the firm's stock in a transaction dated Tuesday, January 10th. The stock was sold at an average price of $225.97, for a total transaction of $47,679.67. Following the sale, the director now owns 15,561 shares in the company, valued at $3,516,319.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Malcolm sold 2,200 shares of the firm's stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $237.24, for a total value of $521,928.00. Following the sale, the director now owns 12,779 shares in the company, valued at approximately $3,031,689.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,023 shares of company stock worth $9,293,587. Corporate insiders own 0.34% of the company's stock.

About Hershey

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The Hershey Co engages in the manufacture and marketing of chocolate, sweets, mints and confectionery products. The firm operates through the following geographical segments: North America and International and Other. The North America is responsible for the traditional chocolate and non-chocolate confectionery market position of the company, as well as its grocery and snacks market positions, in the United States and Canada.