Clare Market Investments LLC Takes $1.02 Million Position in Hershey Company (The) $HSY

Clare Market Investments LLC purchased a new position in Hershey Company (The) (NYSE:HSY) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,930 shares of the company’s stock, valued at approximately $1,025,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Syon Capital LLC increased its position in Hershey by 1.5% during the fourth quarter. Syon Capital LLC now owns 3,020 shares of the company’s stock valued at $550,000 after acquiring an additional 46 shares during the last quarter. Haverford Trust Co lifted its stake in shares of Hershey by 0.7% in the 4th quarter. Haverford Trust Co now owns 6,796 shares of the company’s stock worth $1,237,000 after purchasing an additional 46 shares during the period. Larson Financial Group LLC lifted its stake in shares of Hershey by 2.0% in the 4th quarter. Larson Financial Group LLC now owns 2,561 shares of the company’s stock worth $466,000 after purchasing an additional 50 shares during the period. Venture Visionary Partners LLC increased its holdings in Hershey by 0.7% during the fourth quarter. Venture Visionary Partners LLC now owns 8,034 shares of the company’s stock valued at $1,462,000 after buying an additional 53 shares during the last quarter. Finally, ARS Wealth Advisors Group LLC lifted its position in Hershey by 1.8% during the fourth quarter. ARS Wealth Advisors Group LLC now owns 3,070 shares of the company’s stock valued at $559,000 after purchasing an additional 54 shares in the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $173.43, for a total transaction of $260,145.00. Following the completion of the sale, the chief financial officer owned 54,695 shares in the company, valued at $9,485,753.85. This trade represents a 2.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.08% of the stock is owned by corporate insiders.

Hershey Stock Up 2.3%

NYSE HSY opened at $181.55 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. Hershey Company has a 52 week low of $160.07 and a 52 week high of $239.48. The firm has a market capitalization of $36.82 billion, a price-to-earnings ratio of 33.49, a PEG ratio of 1.10 and a beta of 0.11. The company has a fifty day moving average of $184.74 and a two-hundred day moving average of $198.02.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.31. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.03 billion. Hershey had a net margin of 9.12% and a return on equity of 28.98%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.09 earnings per share. On average, analysts predict that Hershey Company will post 8.43 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were paid a dividend of $1.452 per share. This represents a $5.81 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, May 15th. Hershey’s dividend payout ratio (DPR) is currently 108.19%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on HSY shares. Evercore raised Hershey from an “in-line” rating to an “outperform” rating and set a $255.00 price objective on the stock in a research report on Wednesday, May 27th. Wells Fargo & Company reduced their price target on shares of Hershey from $220.00 to $200.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. DA Davidson dropped their price objective on shares of Hershey from $230.00 to $208.00 and set a “neutral” rating for the company in a report on Monday, May 4th. TD Cowen raised Hershey from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research note on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Hershey from $212.00 to $200.00 and set a “hold” rating for the company in a report on Monday, March 30th. Seven research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat.com, Hershey currently has an average rating of “Hold” and a consensus target price of $217.50.

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.