Hershey Company (The) $HSY Shares Purchased by Procyon Advisors LLC

Procyon Advisors LLC raised its position in Hershey Company (The) (NYSE:HSY) by 235.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,706 shares of the company’s stock after purchasing an additional 4,004 shares during the quarter. Procyon Advisors LLC’s holdings in Hershey were worth $1,186,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. JPL Wealth Management LLC acquired a new position in Hershey during the 3rd quarter worth about $26,000. Bard Associates Inc. acquired a new position in Hershey in the 4th quarter valued at about $26,000. Reflection Asset Management acquired a new position in Hershey in the 4th quarter valued at about $26,000. Laurel Wealth Advisors LLC purchased a new stake in Hershey during the fourth quarter worth about $27,000. Finally, Manchester Capital Management LLC lifted its position in shares of Hershey by 123.0% during the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the company’s stock worth $30,000 after purchasing an additional 91 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Price Performance

Shares of HSY opened at $171.54 on Wednesday. The firm has a market capitalization of $34.80 billion, a price-to-earnings ratio of 31.94, a PEG ratio of 1.05 and a beta of 0.11. The firm’s fifty day simple moving average is $183.08 and its 200-day simple moving average is $197.48. Hershey Company has a twelve month low of $161.29 and a twelve month high of $239.48. The company has a current ratio of 1.24, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99.

Hershey (NYSE:HSY) last announced its quarterly earnings results on Thursday, April 30th. The company reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.31. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.03 billion. Hershey had a return on equity of 28.98% and a net margin of 9.12%.During the same period in the previous year, the business earned $2.09 EPS. Hershey’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities analysts forecast that Hershey Company will post 8.43 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were paid a $1.452 dividend. This represents a $5.81 annualized dividend and a yield of 3.4%. The ex-dividend date was Friday, May 15th. Hershey’s dividend payout ratio is currently 108.19%.

Insider Buying and Selling at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $173.43, for a total value of $260,145.00. Following the completion of the transaction, the chief financial officer owned 54,695 shares in the company, valued at approximately $9,485,753.85. This represents a 2.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HSY shares. The Goldman Sachs Group set a $240.00 price objective on shares of Hershey in a report on Friday, May 1st. Bank of America reduced their target price on shares of Hershey from $220.00 to $200.00 and set a “neutral” rating on the stock in a report on Thursday, June 25th. Morgan Stanley decreased their price target on shares of Hershey from $247.00 to $227.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. UBS Group dropped their price target on shares of Hershey from $215.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Finally, JPMorgan Chase & Co. cut their price objective on Hershey from $204.00 to $191.00 and set a “neutral” rating on the stock in a research report on Monday. Seven research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, Hershey currently has a consensus rating of “Hold” and an average price target of $214.06.

About Hershey

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.