US Bancorp DE Boosts Holdings in The Hershey Company (NYSE:HSY)

US Bancorp DE lifted its stake in The Hershey Company (NYSE:HSY) by 1.4% in the 1st quarter, Holdings Channel.com reports. The firm owned 403,377 shares of the company’s stock after buying an additional 5,456 shares during the quarter. US Bancorp DE’s holdings in Hershey were worth $78,457,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. BKM Wealth Management LLC purchased a new position in Hershey in the 4th quarter worth about $26,000. First Financial Corp IN purchased a new position in Hershey in the 4th quarter worth about $29,000. Riverview Trust Co purchased a new position in Hershey in the 1st quarter worth about $29,000. Highlander Capital Management LLC raised its position in Hershey by 125.3% in the 4th quarter. Highlander Capital Management LLC now owns 169 shares of the company’s stock worth $32,000 after buying an additional 94 shares during the last quarter. Finally, Rakuten Securities Inc. purchased a new position in Hershey in the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

HSY traded up $1.05 during trading on Tuesday, reaching $189.97. 1,002,426 shares of the company traded hands, compared to its average volume of 1,851,628. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.64 and a current ratio of 0.97. The Hershey Company has a 12-month low of $178.82 and a 12-month high of $248.93. The firm has a fifty day simple moving average of $192.86 and a 200 day simple moving average of $192.41. The company has a market cap of $38.42 billion, a P/E ratio of 18.76, a PEG ratio of 4.23 and a beta of 0.36.

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 business had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period last year, the firm posted $2.96 EPS. The company’s revenue was up 8.9% on a year-over-year basis. On average, equities analysts forecast that The Hershey Company will post 9.59 EPS for the current year.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 17th were given a dividend of $1.37 per share. The ex-dividend date was Thursday, May 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.88%. Hershey’s dividend payout ratio is currently 54.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HSY. Bank of America decreased their target price on Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Citigroup cut their price target on Hershey from $213.00 to $199.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Piper Sandler restated a “neutral” rating and set a $179.00 price target on shares of Hershey in a research note on Friday, June 21st. BNP Paribas downgraded Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 price target for the company. in a research note on Tuesday, March 26th. Finally, Barclays cut their price target on Hershey from $210.00 to $204.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 18th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hershey presently has an average rating of “Hold” and a consensus price target of $209.67.

Insider Activity

In other news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $204.54, for a total transaction of $306,810.00. Following the completion of the transaction, the chief financial officer now directly owns 37,228 shares in the company, valued at approximately $7,614,615.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 4,500 shares of company stock worth $859,950. 0.34% of the stock is currently owned by insiders.

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.