Elevate Capital Advisors LLC Boosts Stake in Hershey Company (The) (NYSE:HSY)

Elevate Capital Advisors LLC lifted its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 23.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,105 shares of the company's stock after purchasing an additional 2,657 shares during the period. Hershey comprises approximately 2.2% of Elevate Capital Advisors LLC's holdings, making the stock its 15th biggest holding. Elevate Capital Advisors LLC's holdings in Hershey were worth $2,412,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Trust Co. of Vermont boosted its stake in shares of Hershey by 2.4% during the 1st quarter. Trust Co. of Vermont now owns 2,691 shares of the company's stock worth $460,000 after purchasing an additional 62 shares during the last quarter. UNIVEST FINANCIAL Corp raised its position in shares of Hershey by 1.5% in the fourth quarter. UNIVEST FINANCIAL Corp now owns 4,500 shares of the company's stock valued at $762,000 after buying an additional 68 shares during the last quarter. Fifth Third Wealth Advisors LLC lifted its stake in shares of Hershey by 2.6% during the first quarter. Fifth Third Wealth Advisors LLC now owns 2,768 shares of the company's stock valued at $473,000 after buying an additional 69 shares during the period. Joel Isaacson & Co. LLC boosted its position in Hershey by 3.0% during the first quarter. Joel Isaacson & Co. LLC now owns 2,407 shares of the company's stock worth $412,000 after acquiring an additional 69 shares during the last quarter. Finally, OLD Point Trust & Financial Services N A boosted its position in Hershey by 2.2% during the fourth quarter. OLD Point Trust & Financial Services N A now owns 3,240 shares of the company's stock worth $549,000 after acquiring an additional 70 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP James Turoff sold 1,300 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $175.00, for a total value of $227,500.00. Following the completion of the sale, the senior vice president owned 25,321 shares in the company, valued at approximately $4,431,175. This trade represents a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jennifer Mccalman sold 974 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value of $153,025.14. Following the transaction, the chief accounting officer directly owned 2,994 shares in the company, valued at $470,387.34. This trade represents a 24.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,107 shares of company stock worth $9,008,118 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

Hershey Trading Down 2.3%

HSY stock traded down $4.08 during midday trading on Friday, reaching $173.00. 733,761 shares of the company's stock traded hands, compared to its average volume of 1,793,894. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.59 and a quick ratio of 1.11. Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $208.03. The business has a 50-day moving average price of $165.42 and a two-hundred day moving average price of $164.86. The company has a market capitalization of $35.05 billion, a P/E ratio of 21.33, a PEG ratio of 6.52 and a beta of 0.30.

Hershey (NYSE:HSY - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.15. Hershey had a net margin of 15.32% and a return on equity of 38.70%. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter last year, the firm posted $3.07 EPS. The business's revenue for the quarter was down 13.8% compared to the same quarter last year. Equities research analysts forecast that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 16th were paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Friday, May 16th. Hershey's dividend payout ratio is presently 67.57%.

Analysts Set New Price Targets

Several brokerages have weighed in on HSY. Wall Street Zen upgraded Hershey from a "sell" rating to a "hold" rating in a report on Saturday, June 28th. Sanford C. Bernstein lifted their price objective on Hershey from $147.00 to $155.00 and gave the company a "market perform" rating in a research report on Friday, May 2nd. Mizuho reduced their target price on Hershey from $167.00 to $155.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Morgan Stanley decreased their price target on Hershey from $183.00 to $177.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Finally, UBS Group lowered their price target on Hershey from $175.00 to $170.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Five research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company's stock. Based on data from MarketBeat, Hershey currently has a consensus rating of "Hold" and an average price target of $158.84.

Hershey Company Profile

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.