Wealthquest Corp Invests $1.32 Million in Hershey Company (The) $HSY

Key Points

• Wealthquest Corp opened a new position in Hershey during the fourth quarter, buying 7,240 shares worth about $1.32 million.
• Several large institutional investors also increased their Hershey holdings, and institutions now own 57.96% of the company’s stock.
• Hershey reported stronger-than-expected quarterly results, with EPS of $2.35 and revenue of $3.10 billion, and it also declared a quarterly dividend of $1.452 per share.

Wealthquest Corp bought a new position in Hershey Company (The) (NYSE:HSY - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,240 shares of the company's stock, valued at approximately $1,318,000.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Hershey by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 19,067,235 shares of the company's stock worth $3,469,855,000 after purchasing an additional 191,671 shares in the last quarter. State Street Corp boosted its position in 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 purchasing an additional 128,982 shares in the last quarter. Northern Trust Corp boosted its position in Hershey by 1.9% during the third quarter. Northern Trust Corp now owns 1,614,258 shares of the company's stock worth $301,947,000 after purchasing an additional 29,731 shares in the last quarter. Capital Research Global Investors boosted its position in Hershey by 6.7% during the third quarter. Capital Research Global Investors now owns 1,605,628 shares of the company's stock worth $300,333,000 after purchasing an additional 101,305 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Hershey by 3.7% during the third quarter. Bank of America Corp DE now owns 1,473,427 shares of the company's stock worth $275,605,000 after purchasing an additional 52,936 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company's stock.

Insider Buying and Selling

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 directly owned 57,695 shares in the company, valued at approximately $11,198,599.50. The trade was a 2.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jason Reiman sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $226.07, for a total value of $452,140.00. Following the sale, the senior vice president owned 41,036 shares of the company's stock, valued at $9,277,008.52. The trade was a 4.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 8,500 shares of company stock worth $1,859,600. 0.08% of the stock is owned by corporate insiders.

Hershey Stock Down 0.1%

Shares of HSY opened at $194.64 on Monday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 1.24. Hershey Company has a one year low of $152.21 and a one year high of $239.48. The stock has a market capitalization of $39.48 billion, a price-to-earnings ratio of 36.25, a PEG ratio of 1.17 and a beta of 0.07. The stock has a 50 day moving average price of $199.60 and a 200 day moving average price of $197.74.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.04 by $0.31. Hershey had a return on equity of 28.98% and a net margin of 9.12%.The firm had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.03 billion. During the same period in the previous year, the business earned $2.09 earnings per share. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. Equities research analysts forecast that Hershey Company will post 8.45 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be given a dividend of $1.452 per share. This represents a $5.81 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Friday, May 15th. Hershey's payout ratio is presently 108.01%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on HSY shares. UBS Group lowered their price target on Hershey from $215.00 to $200.00 and set a "neutral" rating on the stock in a research report on Friday, May 1st. Stephens increased their price target on Hershey from $200.00 to $260.00 and gave the stock an "overweight" rating in a research report on Thursday, February 12th. BTIG Research started coverage on Hershey in a research report on Monday, April 13th. They set a "neutral" rating on the stock. TD Cowen upgraded Hershey from a "hold" rating to a "buy" rating and set a $210.00 price target on the stock in a research report on Friday, May 1st. Finally, Zacks Research downgraded Hershey from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Seven analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to MarketBeat.com, Hershey currently has an average rating of "Hold" and an average price target of $217.78.

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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