Hershey Company (The) $HSY Stock: GRIMES & Co WEALTH MANAGEMENT LLC Increases Holdings

Key Points

• GRIMES & Co Wealth Management increased its Hershey stake by 30.9% in the third quarter, ending with 88,334 shares valued at approximately $13.9 million. Institutional investors collectively own 57.96% of HSY.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $193.81; recent target changes ranged from $160 to $225.
• Hershey exceeded quarterly expectations, reporting $2.64 in adjusted EPS on $3.28 billion in revenue, while maintaining a quarterly dividend of $1.452 per share, equivalent to a 3.4% annualized yield.

GRIMES & Co WEALTH MANAGEMENT LLC increased its stake in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 30.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 88,334 shares of the company's stock after buying an additional 20,843 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC's holdings in Hershey were worth $13,922,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. GKV Capital Management Co. Inc. purchased a new position in shares of Hershey in the 1st quarter valued at approximately $27,000. Bell Investment Advisors Inc acquired a new position in shares of Hershey in the second quarter valued at approximately $26,000. Frazier Financial Advisors LLC purchased a new stake in shares of Hershey during the second quarter worth approximately $33,000. Compass Wealth Management LLC purchased a new stake in shares of Hershey during the third quarter worth approximately $31,000. Finally, First Pacific Financial purchased a new stake in shares of Hershey during the second quarter worth approximately $35,000. Institutional investors and hedge funds own 57.96% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HSY. 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 report on Thursday, July 9th. Barclays cut their price objective on shares of Hershey from $178.00 to $171.00 and set an "equal weight" rating for the company in a research report on Monday. Evercore raised their target price on shares of Hershey from $210.00 to $225.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 28th. Wells Fargo & Company lowered their target price on shares of Hershey from $170.00 to $160.00 and set an "equal weight" rating on the stock in a report on Friday. Finally, Bank of America reaffirmed a "neutral" rating and issued a $170.00 target price on shares of Hershey in a report on Friday. Seven research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $193.81.

Hershey Price Performance

Hershey stock opened at $171.24 on Tuesday. The firm's 50-day simple moving average is $169.38 and its 200 day simple moving average is $188.91. The firm has a market capitalization of $34.41 billion, a PE ratio of 19.37, a P/E/G ratio of 1.37 and a beta of 0.10. Hershey Company has a 52 week low of $156.16 and a 52 week high of $239.48. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 1.03.

Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The company reported $2.64 EPS for the quarter, topping analysts' consensus estimates of $2.11 by $0.53. The firm had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.25 billion. Hershey had a return on equity of 31.92% and a net margin of 12.24%. The firm's quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.30 EPS. On average, equities research analysts predict that Hershey Company will post 8.61 EPS for the current fiscal year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 16th will be given a $1.4520 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $5.81 dividend on an annualized basis and a dividend yield of 3.4%. Hershey's payout ratio is currently 65.72%.

About Hershey

The Hershey Company NYSE: HSY is a global confectionery and snack food manufacturer headquartered in Hershey, Pennsylvania. Founded by Milton S. Hershey in 1894, the company began as a chocolate producer and has grown into one of the largest branded snack businesses in North America.

Hershey's portfolio includes chocolate, non-chocolate confectionery, gum and mints, and salty snacks. Its brands include Hershey's, Reese's, Hershey's Kisses, Kit Kat in the United States under license from Nestlé, Jolly Rancher, Twizzlers, Ice Breakers, SkinnyPop and Dot's Pretzels.

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