Beese Fulmer Investment Management Inc. Has $13.45 Million Holdings in Hershey Company (The) $HSY

Beese Fulmer Investment Management Inc. raised its position in shares of Hershey Company (The) (NYSE:HSY) by 89.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 73,928 shares of the company’s stock after purchasing an additional 34,876 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Hershey were worth $13,453,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. JPL Wealth Management LLC acquired a new stake in Hershey during the 3rd quarter valued at approximately $26,000. Laurel Wealth Advisors LLC acquired a new stake in shares of Hershey during the 4th quarter worth approximately $27,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Hershey during the 3rd quarter worth approximately $35,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Hershey during the 4th quarter worth approximately $42,000. Finally, Close Asset Management Ltd grew its position in shares of Hershey by 339.3% during the 3rd quarter. Close Asset Management Ltd now owns 246 shares of the company’s stock worth $46,000 after buying an additional 190 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Stock Performance

NYSE HSY opened at $186.84 on Friday. The company has a fifty day simple moving average of $202.63 and a 200 day simple moving average of $196.91. Hershey Company has a 12-month low of $150.04 and a 12-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. The company has a market cap of $37.90 billion, a P/E ratio of 34.79, a PEG ratio of 1.12 and a beta of 0.07.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, April 30th. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.31. Hershey had a net margin of 9.12% and a return on equity of 28.98%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter last year, the firm posted $2.09 EPS. Hershey’s revenue was up 10.7% compared to the same quarter last year. Sell-side analysts predict that Hershey Company will post 8.45 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be given a $1.452 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $5.81 annualized dividend and a yield of 3.1%. Hershey’s dividend payout ratio (DPR) is presently 108.19%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Barclays reduced their price objective on shares of Hershey from $225.00 to $220.00 and set an “equal weight” rating for the company in a research report on Monday, May 4th. JPMorgan Chase & Co. reduced their price objective on shares of Hershey from $211.00 to $204.00 and set a “neutral” rating for the company in a research report on Friday, May 1st. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $185.00 price objective on shares of Hershey in a research report on Tuesday, February 3rd. Zacks Research downgraded shares of Hershey from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Sanford C. Bernstein reaffirmed a “market perform” rating and set a $250.00 price objective on shares of Hershey in a research report on Friday, February 6th. Seven research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $218.33.

Insider Activity at Hershey

In related news, insider Rohit Grover sold 3,500 shares of Hershey stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $226.07, for a total value of $791,245.00. Following the completion of the sale, the insider owned 34,568 shares of the company’s stock, valued at approximately $7,814,787.76. This trade represents a 9.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction on Monday, April 20th. The shares were sold at an average price of $194.10, for a total transaction of $291,150.00. Following the completion of the sale, the chief financial officer directly owned 57,695 shares of the company’s stock, valued at approximately $11,198,599.50. The trade was a 2.53% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 10,000 shares of company stock valued at $2,189,090. 0.08% of the stock is owned by company insiders.

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.