Weik Capital Management Takes Position in The Hershey Company (NYSE:HSY)

Weik Capital Management bought a new position in shares of The Hershey Company (NYSE:HSY) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 3,743 shares of the company’s stock, valued at approximately $688,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Hershey by 14.2% during the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after purchasing an additional 2,158,912 shares in the last quarter. Norges Bank acquired a new stake in Hershey during the fourth quarter worth $349,448,000. Janus Henderson Group PLC increased its holdings in Hershey by 6.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock valued at $289,327,000 after buying an additional 90,329 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Hershey by 23.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock valued at $143,962,000 after buying an additional 147,215 shares in the last quarter. Finally, Vontobel Asset Management Inc. lifted its holdings in shares of Hershey by 16.8% during the 4th quarter. Vontobel Asset Management Inc. now owns 781,967 shares of the company’s stock worth $151,715,000 after acquiring an additional 112,304 shares during the period. 57.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Piper Sandler reissued a “neutral” rating and issued a $179.00 price target on shares of Hershey in a research report on Friday, June 21st. The Goldman Sachs Group assumed coverage on Hershey in a report on Monday, August 12th. They issued a “sell” rating and a $185.00 target price for the company. JPMorgan Chase & Co. boosted their price target on Hershey from $183.00 to $188.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Wells Fargo & Company dropped their price objective on Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Friday, June 21st. Finally, Argus downgraded shares of Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, fifteen have issued 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 a consensus target price of $203.21.

Hershey Stock Performance

Shares of Hershey stock opened at $200.83 on Friday. The stock’s fifty day simple moving average is $195.11 and its 200 day simple moving average is $193.69. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $40.63 billion, a PE ratio of 19.90, a PEG ratio of 5.77 and a beta of 0.37. The Hershey Company has a 12 month low of $178.82 and a 12 month high of $213.85.

Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.17). Hershey had a net margin of 16.76% and a return on equity of 45.36%. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the firm earned $2.01 EPS. The company’s revenue for the quarter was down 16.7% on a year-over-year basis. On average, research analysts predict that The Hershey Company will post 9.5 EPS for the current year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Friday, August 16th. Hershey’s dividend payout ratio is 54.31%.

Insider Buying and Selling

In related news, CAO Jennifer Mccalman sold 538 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $199.17, for a total value of $107,153.46. Following the completion of the transaction, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction 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 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 SEC, which is accessible through the SEC website. Also, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the completion of the transaction, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The disclosure for this sale can be found here. Insiders have sold a total of 3,538 shares of company stock worth $667,793 over the last ninety days. Company insiders own 0.34% of the company’s stock.

About Hershey

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.