Hershey Company (The) $HSY is Owlhouse Capital LP's 2nd Largest Position

Owlhouse Capital LP boosted its holdings in Hershey Company (The) (NYSE:HSY - Free Report) by 285.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,800 shares of the company's stock after acquiring an additional 24,300 shares during the period. Hershey comprises about 9.1% of Owlhouse Capital LP's investment portfolio, making the stock its 2nd biggest holding. Owlhouse Capital LP's holdings in Hershey were worth $6,819,000 as of its most recent filing with the Securities & Exchange Commission.

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Other hedge funds also recently added to or reduced their stakes in the company. JPL Wealth Management LLC acquired a new stake in Hershey in the 3rd quarter valued at approximately $26,000. Reflection Asset Management bought a new position in shares of Hershey in the fourth quarter worth $26,000. Bard Associates Inc. bought a new position in shares of Hershey in the fourth quarter worth $26,000. Laurel Wealth Advisors LLC acquired a new position in shares of Hershey during the fourth quarter valued at $27,000. Finally, Manchester Capital Management LLC raised its stake in shares of Hershey by 123.0% during the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the company's stock valued at $30,000 after purchasing an additional 91 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $173.43, for a total value of $260,145.00. Following the completion of the sale, the chief financial officer directly owned 54,695 shares in the company, valued at $9,485,753.85. This 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 available through the SEC website. Corporate insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on HSY shares. Morgan Stanley lowered their target price on Hershey from $247.00 to $227.00 and set an "overweight" rating on the stock in a report on Thursday, April 23rd. Wells Fargo & Company reduced their price objective on shares of Hershey from $220.00 to $200.00 and set an "equal weight" rating for the company in a research report on Friday, May 1st. Piper Sandler lowered their price objective on shares of Hershey from $249.00 to $200.00 and set an "overweight" rating on the stock in a research note on Thursday, July 9th. DA Davidson upgraded shares of Hershey to a "hold" rating in a report on Monday, July 6th. Finally, UBS Group cut their target price on shares of Hershey from $200.00 to $190.00 and set a "neutral" rating for the company in a research note on Thursday, July 16th. Seven investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $208.28.

Hershey Stock Performance

Shares of NYSE HSY opened at $174.43 on Monday. Hershey Company has a 12 month low of $161.43 and a 12 month high of $239.48. The company has a market cap of $35.38 billion, a P/E ratio of 32.48, a P/E/G ratio of 1.09 and a beta of 0.11. The business's 50 day moving average is $180.34 and its two-hundred day moving average is $196.90. 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 (NYSE:HSY - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $2.04 by $0.31. The firm 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 was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.09 earnings per share. On average, equities analysts expect that Hershey Company will post 8.42 EPS for the current year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were issued a $1.452 dividend. This represents a $5.81 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Friday, May 15th. Hershey's dividend payout ratio is currently 108.19%.

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.

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