Ballentine Partners LLC Increases Position in The Hershey Company (NYSE:HSY)

Ballentine Partners LLC increased its position in The Hershey Company (NYSE:HSY) by 135.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,134 shares of the company’s stock after acquiring an additional 4,098 shares during the period. Ballentine Partners LLC’s holdings in Hershey were worth $1,388,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HSY. BKM Wealth Management LLC acquired a new stake in shares of Hershey during the fourth quarter worth about $26,000. First Financial Corp IN acquired a new stake in Hershey during the 4th quarter valued at approximately $29,000. Highlander Capital Management LLC boosted its holdings in shares of Hershey by 125.3% in the 4th quarter. Highlander Capital Management LLC now owns 169 shares of the company’s stock valued at $32,000 after acquiring an additional 94 shares during the last quarter. Rakuten Securities Inc. acquired a new stake in shares of Hershey in the fourth quarter worth $32,000. Finally, Quarry LP purchased a new position in shares of Hershey during the fourth quarter worth $34,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Trading Up 2.5 %

Hershey stock traded up $4.51 during trading on Monday, reaching $186.60. 102,352 shares of the company were exchanged, compared to its average volume of 1,862,685. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.97 and a quick ratio of 0.64. The stock’s 50 day simple moving average is $194.13 and its two-hundred day simple moving average is $192.30. The company has a market capitalization of $37.74 billion, a P/E ratio of 18.27, a PEG ratio of 4.07 and a beta of 0.37. The Hershey Company has a 52-week low of $178.82 and a 52-week high of $261.58.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Friday, May 3rd. The company reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $0.33. Hershey had a net margin of 18.13% and a return on equity of 50.15%. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the prior year, the firm posted $2.96 earnings per share. Hershey’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities research analysts expect that The Hershey Company will post 9.6 earnings per share for the current fiscal year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 17th were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend was Thursday, May 16th. Hershey’s dividend payout ratio is presently 54.31%.

Insider Buying and Selling

In other news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $204.54, for a total value of $306,810.00. Following the transaction, the chief financial officer now owns 37,228 shares of the company’s stock, valued at approximately $7,614,615.12. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Edward Jones reaffirmed a “hold” rating on shares of Hershey in a report on Friday, April 19th. Barclays dropped their target price on Hershey from $210.00 to $204.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 18th. Argus decreased their price target on Hershey from $240.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Piper Sandler reaffirmed a “neutral” rating and set a $179.00 target price on shares of Hershey in a report on Friday. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $213.00 price target on shares of Hershey in a report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $209.67.

Hershey 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.