Carderock Capital Management Inc. Purchases 2,439 Shares of The Hershey Company (NYSE:HSY)

by · The Markets Daily

Carderock Capital Management Inc. increased its stake in The Hershey Company (NYSE:HSY – Free Report) by 13.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,398 shares of the company’s stock after acquiring an additional 2,439 shares during the period. Carderock Capital Management Inc.’s holdings in Hershey were worth $3,912,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. LPL Financial LLC increased its stake in shares of Hershey by 10.0% during the second quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock valued at $58,951,000 after buying an additional 29,246 shares during the period. CreativeOne Wealth LLC boosted its position in Hershey by 179.4% in the 1st quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock worth $1,353,000 after purchasing an additional 4,468 shares in the last quarter. Oak Harvest Investment Services acquired a new stake in Hershey during the first quarter valued at $5,383,000. Signet Financial Management LLC grew its position in shares of Hershey by 59.9% during the 1st quarter. Signet Financial Management LLC now owns 12,960 shares of the company’s stock valued at $2,521,000 after acquiring an additional 4,854 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Hershey by 119.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,766 shares of the company’s stock valued at $19,633,000 after buying an additional 50,014 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

Shares of NYSE:HSY opened at $184.81 on Thursday. The Hershey Company has a twelve month low of $178.82 and a twelve month high of $211.92. The business has a 50 day moving average price of $194.68 and a 200 day moving average price of $193.33. The company has a market cap of $37.37 billion, a price-to-earnings ratio of 18.32, a PEG ratio of 5.44 and a beta of 0.37. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87.

Hershey (NYSE:HSY – Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). The company had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. The company’s quarterly revenue was down 16.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.01 earnings per share. Research analysts predict that The Hershey Company will post 9.47 earnings per share for the current year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Friday, August 16th. Hershey’s payout ratio is presently 54.31%.

Insider Buying and Selling at Hershey

In related news, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction dated 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 sale, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CAO Jennifer Mccalman sold 538 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now owns 3,238 shares in the company, valued at approximately $644,912.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Steven E. Voskuil sold 1,500 shares of the business’s 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 transaction, the chief financial officer now directly owns 34,228 shares of the company’s stock, valued at approximately $6,531,729.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on HSY. Royal Bank of Canada reduced their price objective on Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Jefferies Financial Group lowered shares of Hershey from a “hold” rating to an “underperform” rating and lowered their target price for the stock from $184.00 to $163.00 in a research note on Thursday, September 26th. Citigroup downgraded Hershey from a “neutral” rating to a “sell” rating and cut their price objective for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. Piper Sandler reiterated a “neutral” rating and set a $179.00 target price on shares of Hershey in a report on Friday, June 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Four research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $195.00.

Check Out Our Latest Analysis on HSY

Hershey Profile

(Free Report)

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.

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