Silvercrest Asset Management Group LLC Purchases 495 Shares of The Hershey Company (NYSE:HSY)

Silvercrest Asset Management Group LLC grew its position in The Hershey Company (NYSE:HSY) by 4.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,118 shares of the company’s stock after purchasing an additional 495 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Hershey were worth $2,162,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Riverview Trust Co acquired a new position in Hershey during the 1st quarter worth approximately $29,000. Highlander Capital Management LLC increased its stake in 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 buying an additional 94 shares during the last quarter. Rakuten Securities Inc. bought a new stake in Hershey during the 4th quarter worth about $32,000. Quarry LP acquired a new position in shares of Hershey during the 4th quarter worth about $34,000. Finally, Crewe Advisors LLC acquired a new position in shares of Hershey during the 1st quarter worth about $35,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HSY. Argus dropped their target price on Hershey from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Bank of America cut their price objective on Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Hershey from $197.00 to $192.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Piper Sandler reiterated a “neutral” rating and issued a $179.00 price target on shares of Hershey in a research note on Friday, June 21st. Finally, Edward Jones restated a “hold” rating on shares of Hershey in a research note on Friday, April 19th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $204.89.

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 Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total value of $286,245.00. Following the completion of the transaction, the chief financial officer now directly owns 34,228 shares in the company, valued at approximately $6,531,729.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 4,500 shares of company stock valued at $867,450. 0.34% of the stock is owned by corporate insiders.

Hershey Trading Up 0.7 %

HSY stock opened at $193.98 on Wednesday. The Hershey Company has a 52 week low of $178.82 and a 52 week high of $235.80. 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 company’s 50-day simple moving average is $190.00 and its 200 day simple moving average is $192.58. The company has a market capitalization of $39.23 billion, a PE ratio of 19.22, a price-to-earnings-growth ratio of 4.79 and a beta of 0.36.

Hershey (NYSE:HSY) last announced its earnings results on Friday, May 3rd. The company reported $3.07 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the prior year, the business posted $2.96 EPS. The business’s revenue was up 8.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Hershey Company will post 9.58 earnings per share for the current year.

Hershey Announces Dividend

The business 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 of this dividend was Thursday, May 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.83%. Hershey’s payout ratio is 54.31%.

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.