Mcrae Capital Management Inc. Has $6.63 Million Position in The Hershey Company (NYSE:HSY)

Mcrae Capital Management Inc. raised its holdings in The Hershey Company (NYSE:HSY) by 154.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,052 shares of the company’s stock after buying an additional 21,888 shares during the quarter. Hershey accounts for approximately 1.5% of Mcrae Capital Management Inc.’s holdings, making the stock its 25th biggest holding. Mcrae Capital Management Inc.’s holdings in Hershey were worth $6,628,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Riverview Trust Co acquired a new position in Hershey in the first quarter worth about $29,000. OFI Invest Asset Management bought a new position in shares of Hershey during the 2nd quarter worth approximately $29,000. Crewe Advisors LLC acquired a new stake in Hershey in the 1st quarter valued at $35,000. Quarry LP acquired a new stake in Hershey in the 4th quarter valued at $34,000. Finally, Park Place Capital Corp acquired a new position in Hershey during the first quarter worth $36,000. 57.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Citigroup boosted their target price on shares of Hershey from $188.00 to $195.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Barclays decreased their price objective on shares of Hershey from $210.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 18th. Piper Sandler reiterated a “neutral” rating and issued a $179.00 target price on shares of Hershey in a research note on Friday, June 21st. The Goldman Sachs Group initiated coverage on Hershey in a research report on Monday, August 12th. They set a “sell” rating and a $185.00 price target on the stock. Finally, Sanford C. Bernstein cut their price objective on Hershey from $237.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $203.47.

Hershey Trading Up 0.4 %

NYSE HSY traded up $0.74 during trading hours on Friday, hitting $196.30. The company’s stock had a trading volume of 946,156 shares, compared to its average volume of 1,813,594. The stock has a fifty day moving average of $191.11 and a 200 day moving average of $193.29. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The Hershey Company has a twelve month low of $178.82 and a twelve month high of $219.92. The firm has a market capitalization of $39.70 billion, a P/E ratio of 19.45, a PEG ratio of 4.96 and a beta of 0.36.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.17). The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. The firm’s revenue for the quarter was down 16.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.01 earnings per share. Equities research analysts forecast that The Hershey Company will post 9.59 earnings per share for the current fiscal year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be paid a $1.37 dividend. The ex-dividend date is Friday, August 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.79%. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

Insider Buying and Selling

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the company’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 sale, the chief financial officer now owns 34,228 shares of the company’s stock, valued at $6,531,729.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total value of $286,245.00. Following the completion of the sale, the chief financial officer now directly owns 34,228 shares in the company, valued at $6,531,729.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $199.17, for a total value of $107,153.46. Following the sale, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. The disclosure for this sale can be found here. Insiders have sold 3,538 shares of company stock valued at $667,793 in the last 90 days. 0.34% of the stock is owned by insiders.

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.