L & S Advisors Inc Invests $3.90 Million in Hershey Company (The) $HSY

Key Points

• L & S Advisors Inc opened a new position in Hershey during the fourth quarter, buying 21,436 shares valued at about $3.9 million.
• Hershey recently reported stronger-than-expected quarterly results, with EPS of $2.35 versus estimates of $2.04 and revenue of $3.10 billion, up 10.7% year over year.
• Analysts remain cautious overall: several firms cut price targets, and the stock carries a consensus “Hold” rating with an average target price of $218.33.

L & S Advisors Inc bought a new position in shares of Hershey Company (The) (NYSE:HSY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 21,436 shares of the company's stock, valued at approximately $3,901,000.

Several other hedge funds also recently made changes to their positions in HSY. JPL Wealth Management LLC bought a new position in shares of Hershey during the third quarter worth approximately $26,000. Laurel Wealth Advisors LLC bought a new position in shares of Hershey during the fourth quarter worth approximately $27,000. Measured Wealth Private Client Group LLC bought a new position in shares of Hershey during the third quarter worth approximately $35,000. Atlantic Edge Private Wealth Management LLC bought a new position in shares of Hershey during the fourth quarter worth approximately $42,000. Finally, WHI TRUST Co LLC bought a new position in shares of Hershey during the fourth quarter worth approximately $45,000. 57.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on HSY shares. Stifel Nicolaus lowered their target price on shares of Hershey from $230.00 to $215.00 and set a "hold" rating on the stock in a report on Tuesday, April 21st. Wells Fargo & Company lowered their target price on shares of Hershey from $220.00 to $200.00 and set an "equal weight" rating on the stock in a report on Friday, May 1st. JPMorgan Chase & Co. lowered their target price on shares of Hershey from $211.00 to $204.00 and set a "neutral" rating on the stock in a report on Friday, May 1st. Piper Sandler reiterated an "overweight" rating and set a $249.00 price target on shares of Hershey in a research report on Wednesday, February 25th. Finally, UBS Group reduced their price target on shares of Hershey from $215.00 to $200.00 and set a "neutral" rating on the stock in a research report on Friday, May 1st. Seven analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $218.33.

Hershey Stock Performance

Shares of Hershey stock opened at $186.84 on Friday. Hershey Company has a fifty-two week low of $150.04 and a fifty-two week high of $239.48. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 0.77. The firm has a market capitalization of $37.90 billion, a P/E ratio of 34.79, a P/E/G ratio of 1.12 and a beta of 0.07. The company's 50 day moving average price is $202.63 and its two-hundred day moving average price is $196.91.

Hershey (NYSE:HSY - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates 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 last year, the business posted $2.09 earnings per share. The company's quarterly revenue was up 10.7% on a year-over-year basis. On average, equities analysts forecast that Hershey Company will post 8.45 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be given a $1.452 dividend. The ex-dividend date is Friday, May 15th. This represents a $5.81 dividend on an annualized basis and a yield of 3.1%. Hershey's dividend payout ratio (DPR) is currently 108.19%.

Insider Buying and Selling at Hershey

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $194.10, for a total value of $291,150.00. Following the sale, the chief financial officer owned 57,695 shares in the company, valued at $11,198,599.50. This trade represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jason Reiman sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $226.07, for a total transaction of $452,140.00. Following the completion of the sale, the senior vice president owned 41,036 shares in the company, valued at $9,277,008.52. This represents a 4.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 10,000 shares of company stock worth $2,189,090 over the last quarter. Corporate insiders own 0.08% of the company's stock.

About Hershey

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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