Maridea Wealth Management LLC Takes $698,000 Position in Hershey Company (The) (NYSE:HSY)

Key Points

• Maridea Wealth Management LLC made a new investment in Hershey Company, acquiring 4,084 shares valued at approximately $698,000 during the first quarter.
• Institutional investors hold 57.96% of Hershey's stock, with several companies including Kennon Green & Company LLC significantly increasing their stakes.
• Hershey's recent earnings report showed a net margin of 15.32% and a reported earnings per share (EPS) of $2.09, exceeding analyst estimates.

Maridea Wealth Management LLC bought a new position in shares of Hershey Company (The) (NYSE:HSY - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 4,084 shares of the company's stock, valued at approximately $698,000.

Other institutional investors have also recently bought and sold shares of the company. Capital International Investors boosted its holdings in Hershey by 31.4% in the fourth quarter. Capital International Investors now owns 12,460,147 shares of the company's stock valued at $2,110,126,000 after acquiring an additional 2,980,997 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Hershey by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 3,801,145 shares of the company's stock worth $642,139,000 after buying an additional 47,394 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Hershey by 38.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,628,047 shares of the company's stock worth $275,710,000 after buying an additional 453,428 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Hershey by 10.8% during the 4th quarter. Northern Trust Corp now owns 1,578,957 shares of the company's stock worth $267,396,000 after buying an additional 154,238 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Hershey by 7.3% during the 4th quarter. Invesco Ltd. now owns 1,282,681 shares of the company's stock worth $217,222,000 after buying an additional 87,498 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company's stock.

Hershey Stock Performance

Shares of Hershey stock traded down $1.93 during trading hours on Thursday, hitting $186.90. 971,968 shares of the company's stock traded hands, compared to its average volume of 1,869,691. Hershey Company has a 12-month low of $140.13 and a 12-month high of $208.03. The stock has a market capitalization of $37.87 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 4.61 and a beta of 0.30. The company has a fifty day simple moving average of $169.28 and a 200-day simple moving average of $165.68. 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 (NYSE:HSY - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.23. Hershey had a return on equity of 38.70% and a net margin of 15.32%. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the firm posted $1.27 EPS. The business's revenue was up 26.0% compared to the same quarter last year. Equities research analysts anticipate that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 2.93%. Hershey's dividend payout ratio (DPR) is currently 67.57%.

Analyst Upgrades and Downgrades

HSY has been the topic of a number of research analyst reports. Morgan Stanley increased their price target on Hershey from $173.00 to $189.00 and gave the stock an "equal weight" rating in a report on Thursday. Bank of America increased their price target on Hershey from $175.00 to $208.00 and gave the stock a "neutral" rating in a report on Thursday. UBS Group cut their price target on Hershey from $175.00 to $170.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Royal Bank Of Canada cut their price target on Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Finally, Wells Fargo & Company increased their price target on Hershey from $135.00 to $154.00 and gave the stock an "underweight" rating in a report on Thursday. Six analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $167.05.

Insider Buying and Selling

In related news, CAO Jennifer Mccalman sold 974 shares of Hershey stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value of $153,025.14. Following the completion of the sale, the chief accounting officer owned 2,994 shares of the company's stock, valued at approximately $470,387.34. This trade represents a 24.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Rohit Grover sold 1,334 shares of Hershey stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $180.00, for a total value of $240,120.00. Following the completion of the sale, the insider directly owned 38,068 shares of the company's stock, valued at approximately $6,852,240. This trade represents a 3.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 99,021 shares of company stock worth $17,189,088 in the last quarter. 0.34% of the stock is currently owned by company insiders.

About Hershey

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.