Meadowbrook Advisors Group LLC Takes Position in Hershey Company (The) $HSY

Key Points

• Meadowbrook Advisors Group LLC initiated a new position in Hershey during the fourth quarter, buying 11,147 shares valued at about $2.03 million.
• Hershey’s latest quarterly results beat expectations, with EPS of $2.35 versus the $2.04 estimate and revenue of $3.10 billion, up 10.7% year over year.
• The company also paid a quarterly dividend of $1.452 per share, equal to an annualized yield of about 3.4%, though its payout ratio is above 100%.

Meadowbrook Advisors Group LLC acquired a new stake in Hershey Company (The) (NYSE:HSY - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 11,147 shares of the company's stock, valued at approximately $2,029,000.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Hershey by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 19,067,235 shares of the company's stock valued at $3,469,855,000 after buying an additional 191,671 shares during the period. Capital International Investors increased its position in shares of Hershey by 1.9% during the fourth quarter. Capital International Investors now owns 9,106,431 shares of the company's stock worth $1,657,189,000 after acquiring an additional 169,660 shares during the period. State Street Corp increased its position in shares of Hershey by 1.8% during the third quarter. State Street Corp now owns 7,253,041 shares of the company's stock worth $1,356,681,000 after acquiring an additional 128,982 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Hershey by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,315,653 shares of the company's stock valued at $967,343,000 after acquiring an additional 124,464 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Hershey by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 4,831,101 shares of the company's stock valued at $876,434,000 after acquiring an additional 104,024 shares in the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Stock Performance

Shares of HSY stock opened at $172.38 on Friday. The company has a current ratio of 1.24, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The firm has a fifty day moving average price of $188.34 and a 200 day moving average price of $198.22. The company has a market cap of $34.97 billion, a P/E ratio of 32.10, a PEG ratio of 1.04 and a beta of 0.09. Hershey Company has a 12 month low of $160.07 and a 12 month high of $239.48.

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, beating analysts' consensus estimates of $2.04 by $0.31. The company had revenue of $3.10 billion for the quarter, compared to analysts' expectations of $3.03 billion. Hershey had a return on equity of 28.98% and a net margin of 9.12%.Hershey's quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm earned $2.09 earnings per share. Sell-side analysts predict that Hershey Company will post 8.45 earnings per share for the current fiscal year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were given a dividend of $1.452 per share. This represents a $5.81 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, May 15th. Hershey's dividend payout ratio (DPR) is 108.19%.

Insider Buying and Selling at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the business's stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $194.10, for a total transaction of $291,150.00. Following the completion of the sale, the chief financial officer owned 57,695 shares in the company, valued at $11,198,599.50. The trade was a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on HSY. Barclays lowered their target price on Hershey from $225.00 to $220.00 and set an "equal weight" rating for the company in a research note on Monday, May 4th. DA Davidson reduced their price target on Hershey from $230.00 to $208.00 and set a "neutral" rating on the stock in a research report on Monday, May 4th. BTIG Research began coverage on Hershey in a research note on Monday, April 13th. They issued a "neutral" rating for the company. Evercore raised Hershey from an "in-line" rating to an "outperform" rating and set a $255.00 price objective for the company in a research report on Wednesday, May 27th. Finally, The Goldman Sachs Group set a $240.00 target price on shares of Hershey in a research note on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $218.06.

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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