Mengis Capital Management Inc. Has $5 Million Holdings in Hershey Company (The) $HSY

Mengis Capital Management Inc. boosted its holdings in shares of Hershey Company (The) (NYSE:HSY) by 19.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,475 shares of the company’s stock after acquiring an additional 4,525 shares during the period. Hershey makes up approximately 0.9% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 29th largest holding. Mengis Capital Management Inc.’s holdings in Hershey were worth $5,000,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of HSY. Vanguard Group Inc. lifted its holdings in shares of Hershey by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 19,067,235 shares of the company’s stock valued at $3,469,855,000 after purchasing an additional 191,671 shares in the last quarter. Capital International Investors grew its position in shares of Hershey by 1.9% in the 4th quarter. Capital International Investors now owns 9,106,431 shares of the company’s stock valued at $1,657,189,000 after purchasing an additional 169,660 shares during the period. State Street Corp increased its stake in Hershey by 1.8% during the 3rd quarter. State Street Corp now owns 7,253,041 shares of the company’s stock worth $1,356,681,000 after purchasing an additional 128,982 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Hershey by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,315,653 shares of the company’s stock worth $967,343,000 after purchasing an additional 124,464 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Hershey by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 4,831,101 shares of the company’s stock worth $876,434,000 after buying an additional 104,024 shares during the period. 57.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction dated 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 transaction, the chief financial officer directly owned 57,695 shares in the company, valued at $11,198,599.50. This represents a 2.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by company insiders.

Hershey Price Performance

Shares of HSY opened at $172.38 on Friday. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. Hershey Company has a twelve month low of $160.07 and a twelve month high of $239.48. The stock has a market capitalization of $34.97 billion, a P/E ratio of 32.10, a P/E/G ratio of 1.04 and a beta of 0.09. The company has a 50 day moving average of $188.34 and a 200-day moving average of $198.22.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.03 billion. During the same quarter in the previous year, the firm posted $2.09 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities research analysts forecast that Hershey Company will post 8.45 EPS for the current fiscal year.

Hershey Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on HSY shares. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Hershey from $212.00 to $200.00 and set a “hold” rating for the company in a report on Monday, March 30th. UBS Group cut their price objective on shares of Hershey from $215.00 to $200.00 and set a “neutral” rating on the stock in a research report on Friday, May 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $249.00 target price on shares of Hershey in a research note on Wednesday, February 25th. DA Davidson lowered their target price on Hershey from $230.00 to $208.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Finally, BTIG Research initiated coverage on Hershey in a research note on Monday, April 13th. They issued a “neutral” rating on the stock. Seven research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $218.06.

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.