Aviance Capital Partners LLC Takes $243,000 Position in The Hershey Company (NYSE:HSY)

Aviance Capital Partners LLC purchased a new position in shares of The Hershey Company (NYSE:HSY) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,250 shares of the company’s stock, valued at approximately $243,000.

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

Hershey Stock Up 0.7 %

Shares of NYSE HSY traded up $1.23 during mid-day trading on Monday, hitting $185.06. The company had a trading volume of 250,028 shares, compared to its average volume of 1,883,271. The company has a market capitalization of $37.42 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 4.11 and a beta of 0.36. The business’s 50-day simple moving average is $194.24 and its 200 day simple moving average is $192.22. The Hershey Company has a 1-year low of $178.82 and a 1-year high of $251.73. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.97 and a quick ratio of 0.64.

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 the consensus estimate of $2.74 by $0.33. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter last year, the business posted $2.96 EPS. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, analysts predict that The Hershey Company will post 9.59 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend was Thursday, May 16th. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

Insider Transactions at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $204.54, for a total transaction of $306,810.00. Following the completion of the sale, the chief financial officer now owns 37,228 shares in the company, valued at approximately $7,614,615.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders sold 4,500 shares of company stock valued at $859,950. 0.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on HSY shares. Edward Jones reiterated a “hold” rating on shares of Hershey in a report on Friday, April 19th. Citigroup decreased their target price on shares of Hershey from $213.00 to $199.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Piper Sandler restated a “neutral” rating and set a $179.00 price target on shares of Hershey in a report on Friday, June 21st. Argus decreased their price objective on Hershey from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Finally, BNP Paribas cut Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 target price for the company. in a research note on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Hershey currently has an average rating of “Hold” and an average price target of $209.67.

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.