Cvfg LLC Purchases Shares of 17,381 Hershey Company (The) $HSY

Cvfg LLC acquired a new stake in shares of Hershey Company (The) (NYSE:HSY) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 17,381 shares of the company’s stock, valued at approximately $3,613,000.

Several other hedge funds also recently made changes to their positions in HSY. JPL Wealth Management LLC bought a new stake in Hershey during the third quarter worth approximately $26,000. Reflection Asset Management bought a new position in shares of Hershey in the fourth quarter valued at $26,000. Bard Associates Inc. acquired a new stake in shares of Hershey during the 4th quarter valued at $26,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Hershey during the 4th quarter valued at $27,000. Finally, Manchester Capital Management LLC boosted its stake in shares of Hershey by 123.0% during the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the company’s stock worth $30,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Stock Performance

HSY stock opened at $175.98 on Wednesday. The firm has a 50 day simple moving average of $184.43 and a 200 day simple moving average of $197.93. Hershey Company has a 52 week low of $160.07 and a 52 week high of $239.48. The stock has a market cap of $35.70 billion, a P/E ratio of 32.77, a P/E/G ratio of 1.07 and a beta of 0.11. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 1.24.

Hershey (NYSE:HSY) last released its quarterly earnings data 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. Hershey had a net margin of 9.12% and a return on equity of 28.98%. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same quarter in the prior year, the business earned $2.09 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Research analysts anticipate that Hershey Company will post 8.43 earnings per share for the current fiscal year.

Hershey Announces Dividend

The business also recently declared 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. This represents a $5.81 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Friday, May 15th. Hershey’s payout ratio is currently 108.19%.

Insider Buying and Selling at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Thursday, June 18th. The stock was 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 directly owned 54,695 shares in the company, valued at approximately $9,485,753.85. This trade represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

HSY has been the topic of a number of recent research reports. DA Davidson upgraded Hershey to a “hold” rating in a report on Monday. Barclays reduced their target price on Hershey from $225.00 to $220.00 and set an “equal weight” rating for the company in a report on Monday, May 4th. JPMorgan Chase & Co. dropped their price target on Hershey from $211.00 to $204.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. BTIG Research started coverage on Hershey in a report on Monday, April 13th. They set a “neutral” rating on the stock. Finally, TD Cowen raised shares of Hershey from a “hold” rating to a “buy” rating and set a $210.00 price objective for the company in a research note on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $217.50.

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.