Pacific Point Advisors LLC Takes Position in The Hershey Company (NYSE:HSY)

Pacific Point Advisors LLC bought a new stake in shares of The Hershey Company (NYSE:HSY - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 8,701 shares of the company's stock, valued at approximately $1,474,000. Hershey comprises about 0.9% of Pacific Point Advisors LLC's holdings, making the stock its 19th biggest position.

Several other hedge funds also recently bought and sold shares of the stock. Elevate Capital Advisors LLC purchased a new position in Hershey in the 4th quarter valued at about $1,939,000. Ethos Financial Group LLC boosted its position in Hershey by 59.8% during the fourth quarter. Ethos Financial Group LLC now owns 3,962 shares of the company's stock worth $671,000 after acquiring an additional 1,483 shares during the last quarter. Foster Victor Wealth Advisors LLC purchased a new stake in Hershey in the 4th quarter worth approximately $6,230,000. Impact Partnership Wealth LLC purchased a new stake in Hershey in the 4th quarter worth approximately $780,000. Finally, DJE Kapital AG acquired a new position in Hershey in the 4th quarter valued at $1,040,000. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Stock Down 0.8%

Shares of NYSE:HSY traded down $1.29 during trading on Wednesday, hitting $156.94. The company's stock had a trading volume of 477,919 shares, compared to its average volume of 1,785,546. The company has a market capitalization of $31.80 billion, a PE ratio of 14.40, a PEG ratio of 5.90 and a beta of 0.32. The Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $208.03. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96. The stock's 50-day moving average price is $164.41 and its two-hundred day moving average price is $166.70.

Hershey (NYSE:HSY - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.15. Hershey had a return on equity of 44.77% and a net margin of 19.83%. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period in the prior year, the company posted $3.07 EPS. Hershey's quarterly revenue was down 13.8% on a year-over-year basis. As a group, sell-side analysts expect that The Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be given a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Friday, May 16th. Hershey's payout ratio is currently 67.57%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on HSY shares. Royal Bank of Canada reduced their target price on Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Wells Fargo & Company increased their price objective on shares of Hershey from $125.00 to $132.00 and gave the stock an "underweight" rating in a report on Friday, March 14th. Barclays raised their target price on shares of Hershey from $160.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Piper Sandler downgraded shares of Hershey from a "neutral" rating to an "underweight" rating and cut their price target for the stock from $153.00 to $120.00 in a research note on Friday, January 31st. Finally, Bernstein Bank lowered their price objective on shares of Hershey from $177.00 to $146.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. Five investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $162.15.

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.