Callan Family Office LLC Purchases New Stake in The Hershey Company (NYSE:HSY)

Callan Family Office LLC purchased a new position in shares of The Hershey Company (NYSE:HSY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,126 shares of the company’s stock, valued at approximately $529,000.

Other institutional investors have also bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Hershey during the third quarter worth $1,337,000. Principal Financial Group Inc. grew its holdings in Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after buying an additional 389,404 shares in the last quarter. Woodstock Corp grew its holdings in Hershey by 34.8% during the fourth quarter. Woodstock Corp now owns 6,896 shares of the company’s stock worth $1,168,000 after buying an additional 1,780 shares in the last quarter. Elevate Capital Advisors LLC bought a new stake in Hershey during the fourth quarter worth $1,939,000. Finally, HighTower Advisors LLC grew its holdings in Hershey by 61.9% during the third quarter. HighTower Advisors LLC now owns 120,159 shares of the company’s stock worth $23,052,000 after buying an additional 45,936 shares in the last quarter. Institutional investors own 57.96% of the company’s stock.

Insider Buying and Selling

In related news, CAO Jennifer Mccalman sold 278 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction of $41,144.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,682 shares in the company, valued at $396,936. The trade was a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is owned by company insiders.

Hershey Price Performance

Shares of NYSE:HSY opened at $185.11 on Monday. The company has a 50 day moving average of $161.48 and a 200 day moving average of $176.40. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68. The stock has a market cap of $37.47 billion, a P/E ratio of 16.98, a P/E/G ratio of 5.90 and a beta of 0.32. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $211.92.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. As a group, sell-side analysts forecast that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 17th will be given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 2.96%. The ex-dividend date is Friday, February 14th. Hershey’s payout ratio is 50.28%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Piper Sandler downgraded Hershey from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $153.00 to $120.00 in a report on Friday, January 31st. Citigroup raised Hershey from a “sell” rating to a “neutral” rating and decreased their price target for the company from $159.00 to $154.00 in a research report on Friday, February 7th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $178.00 price target on shares of Hershey in a research report on Monday, February 3rd. Bank of America reaffirmed a “neutral” rating and set a $180.00 price target on shares of Hershey in a research report on Thursday, December 12th. Finally, Jefferies Financial Group decreased their price target on Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a research report on Tuesday, January 21st. Five equities research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. Based on data from MarketBeat.com, Hershey currently has a consensus rating of “Hold” and a consensus target price of $164.15.

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.