Mengis Capital Management Inc. Has $5.30 Million Position in Hershey Company (The) (NYSE:HSY)

Key Points

• Mengis Capital Management Inc. increased its stake in Hershey Company by 14.5%, owning 30,992 shares valued at approximately $5.3 million.
• Hershey's stock price saw a 1.5% decline, currently trading at $186.05, despite reporting stronger-than-expected quarterly earnings with a revenue increase of 26% year-over-year.
• The company has announced a quarterly dividend of $1.37 to be paid on September 15th, yielding 2.9% annually, with a payout ratio of 67.57%.

Mengis Capital Management Inc. boosted its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 14.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,992 shares of the company's stock after buying an additional 3,927 shares during the period. Hershey makes up about 1.1% of Mengis Capital Management Inc.'s holdings, making the stock its 21st biggest position. Mengis Capital Management Inc.'s holdings in Hershey were worth $5,301,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Kennon Green & Company LLC lifted its position in shares of Hershey by 33.3% in the first quarter. Kennon Green & Company LLC now owns 43,146 shares of the company's stock worth $7,379,000 after purchasing an additional 10,784 shares in the last quarter. William Allan Corp increased its stake in Hershey by 173.1% in the 1st quarter. William Allan Corp now owns 18,593 shares of the company's stock valued at $3,180,000 after buying an additional 11,785 shares during the period. IFM Investors Pty Ltd increased its stake in Hershey by 9.5% in the 1st quarter. IFM Investors Pty Ltd now owns 31,925 shares of the company's stock valued at $5,460,000 after buying an additional 2,757 shares during the period. Envestnet Portfolio Solutions Inc. lifted its position in Hershey by 8.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,625 shares of the company's stock worth $3,186,000 after buying an additional 1,390 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its stake in shares of Hershey by 8.1% during the 1st quarter. Vontobel Holding Ltd. now owns 21,151 shares of the company's stock valued at $3,617,000 after buying an additional 1,582 shares during the period. 57.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Steven E. Voskuil sold 5,000 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $180.00, for a total transaction of $900,000.00. Following the transaction, the chief financial officer owned 61,319 shares in the company, valued at approximately $11,037,420. The trade was a 7.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Rohit Grover sold 1,334 shares of the stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $180.00, for a total transaction of $240,120.00. Following the completion of the sale, the insider owned 38,068 shares of the company's stock, valued at approximately $6,852,240. The trade was a 3.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 118,311 shares of company stock valued at $20,931,348 in the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Hershey Stock Performance

HSY stock traded up $2.57 during mid-day trading on Friday, reaching $188.70. 2,072,840 shares of the stock traded hands, compared to its average volume of 1,902,214. The firm has a market capitalization of $38.23 billion, a PE ratio of 25.06, a P/E/G ratio of 4.56 and a beta of 0.27. The business has a 50-day moving average of $170.58 and a two-hundred day moving average of $166.11. Hershey Company has a 52 week low of $140.13 and a 52 week high of $208.03. The company has a quick ratio of 1.11, a current ratio of 1.53 and a debt-to-equity ratio of 1.15.

Hershey (NYSE:HSY - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.23. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.50 billion. Hershey had a return on equity of 37.36% and a net margin of 13.54%. The firm's revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.27 EPS. As a group, equities analysts predict 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 will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be paid a $1.37 dividend. The ex-dividend date is Friday, August 15th. This represents a $5.48 annualized dividend and a dividend yield of 2.9%. Hershey's dividend payout ratio (DPR) is presently 72.78%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on HSY shares. Morgan Stanley upped their price target on shares of Hershey from $173.00 to $189.00 and gave the stock an "equal weight" rating in a research note on Thursday. Citigroup lowered their target price on Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. DA Davidson raised their price target on Hershey from $162.00 to $163.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Mizuho lifted their price target on Hershey from $155.00 to $165.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Finally, Piper Sandler increased their price objective on Hershey from $145.00 to $160.00 and gave the stock an "underweight" rating in a report on Thursday. Five research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $168.37.

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.