Merit Financial Group LLC Takes $720,000 Position in The Hershey Company (NYSE:HSY)

Merit Financial Group LLC bought a new stake in The Hershey Company (NYSE:HSY) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,860 shares of the company’s stock, valued at approximately $720,000.

A number of other institutional investors and hedge funds have also made changes to their positions in HSY. Vanguard Group Inc. boosted its holdings in shares of Hershey by 1.5% during the third quarter. Vanguard Group Inc. now owns 14,911,173 shares of the company’s stock worth $2,983,427,000 after purchasing an additional 222,960 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Hershey by 143.7% in the 3rd quarter. Nordea Investment Management AB now owns 2,465,403 shares of the company’s stock worth $496,039,000 after acquiring an additional 1,453,819 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Hershey by 2.0% in the 3rd quarter. Northern Trust Corp now owns 1,779,549 shares of the company’s stock valued at $356,052,000 after buying an additional 35,393 shares during the period. FMR LLC boosted its stake in Hershey by 0.7% in the third quarter. FMR LLC now owns 1,170,830 shares of the company’s stock valued at $234,260,000 after acquiring an additional 8,344 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in Hershey by 2.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 997,329 shares of the company’s stock valued at $198,085,000 after purchasing an additional 21,229 shares during the period. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Price Performance

HSY opened at $196.49 on Tuesday. The firm’s fifty day moving average price is $192.08 and its two-hundred day moving average price is $190.80. The company has a market capitalization of $40.07 billion, a price-to-earnings ratio of 19.47, a P/E/G ratio of 3.04 and a beta of 0.33. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.97 and a quick ratio of 0.64. The Hershey Company has a 1 year low of $178.82 and a 1 year high of $275.89.

Hershey (NYSE:HSY) last posted its earnings results on Friday, May 3rd. The company reported $3.07 EPS for the quarter, topping the consensus estimate of $2.74 by $0.33. The firm had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Hershey had a net margin of 18.13% and a return on equity of 50.15%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.96 EPS. As a group, analysts anticipate that The Hershey Company will post 9.6 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 17th will be given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Thursday, May 16th. Hershey’s dividend payout ratio is currently 54.31%.

Insider Activity at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $185.83, for a total value of $278,745.00. Following the completion of the transaction, the chief financial officer now owns 38,728 shares in the company, valued at $7,196,824.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on HSY shares. Piper Sandler reduced their target price on Hershey from $200.00 to $179.00 and set a “neutral” rating for the company in a report on Monday, April 15th. JPMorgan Chase & Co. raised their price target on shares of Hershey from $185.00 to $193.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Edward Jones reissued a “hold” rating on shares of Hershey in a research report on Friday, April 19th. Wells Fargo & Company lifted their price target on shares of Hershey from $200.00 to $205.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Sanford C. Bernstein raised shares of Hershey from a “market perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $213.06.

Hershey 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.