Hershey Company (The) $HSY Shares Purchased by Belpointe Asset Management LLC

Belpointe Asset Management LLC raised its holdings in Hershey Company (The) (NYSE:HSY) by 144.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,350 shares of the company’s stock after acquiring an additional 3,750 shares during the quarter. Belpointe Asset Management LLC’s holdings in Hershey were worth $1,188,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in HSY. Vanguard Group Inc. raised its holdings in shares of Hershey by 1.1% in the 2nd quarter. Vanguard Group Inc. now owns 18,840,577 shares of the company’s stock worth $3,126,594,000 after purchasing an additional 210,131 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Hershey by 2.5% in the second quarter. Charles Schwab Investment Management Inc. now owns 5,116,739 shares of the company’s stock worth $849,123,000 after buying an additional 125,100 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Hershey by 2.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,567,373 shares of the company’s stock valued at $755,305,000 after acquiring an additional 126,519 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Hershey by 4.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,276,326 shares of the company’s stock worth $543,712,000 after acquiring an additional 144,640 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Hershey by 2.1% in the 2nd quarter. Bank of America Corp DE now owns 1,420,491 shares of the company’s stock worth $235,731,000 after acquiring an additional 29,462 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Insider Transactions at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $198.67, for a total transaction of $298,005.00. Following the completion of the sale, the chief financial officer directly owned 52,319 shares in the company, valued at $10,394,215.73. The trade was a 2.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stacy Taffet purchased 200 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was purchased at an average cost of $186.19 per share, with a total value of $37,238.00. Following the purchase, the insider owned 9,371 shares in the company, valued at $1,744,786.49. This represents a 2.18% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 6,000 shares of company stock valued at $1,119,450 in the last three months. Corporate insiders own 0.28% of the company’s stock.

Hershey Stock Up 0.2%

HSY stock opened at $192.00 on Thursday. The company has a 50 day moving average of $186.92 and a two-hundred day moving average of $184.17. The company has a market cap of $38.94 billion, a price-to-earnings ratio of 28.70 and a beta of 0.18. Hershey Company has a 12-month low of $140.13 and a 12-month high of $201.86. The company has a quick ratio of 0.83, a current ratio of 1.36 and a debt-to-equity ratio of 1.02.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.24. The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.11 billion. Hershey had a net margin of 11.84% and a return on equity of 32.08%. Hershey’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business posted $2.34 earnings per share. On average, equities analysts anticipate that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Evercore ISI reaffirmed a “positive” rating on shares of Hershey in a report on Friday, October 31st. Stifel Nicolaus raised their target price on shares of Hershey from $185.00 to $195.00 and gave the stock a “hold” rating in a report on Thursday, December 11th. Morgan Stanley restated an “overweight” rating and set a $214.00 price target on shares of Hershey in a report on Wednesday. UBS Group raised their price objective on shares of Hershey from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Finally, Wells Fargo & Company set a $182.00 target price on shares of Hershey and gave the company an “equal weight” rating in a research note on Monday, January 5th. Six analysts have rated the stock with a Buy rating and fifteen have issued a Hold 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 $192.00.

Hershey Company Profile

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.