IFP Advisors Inc Increases Stock Holdings in The Hershey Company (NYSE:HSY)

IFP Advisors Inc raised its stake in The Hershey Company (NYSE:HSY) by 86.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,992 shares of the company’s stock after purchasing an additional 6,021 shares during the quarter. IFP Advisors Inc’s holdings in Hershey were worth $2,200,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HSY. Principal Financial Group Inc. lifted its holdings in shares of Hershey by 66.7% in the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after buying an additional 389,404 shares during the period. State Street Corp lifted its holdings in shares of Hershey by 5.8% in the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock valued at $1,348,127,000 after buying an additional 386,670 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Hershey by 31.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company’s stock valued at $112,491,000 after buying an additional 139,831 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Hershey by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock valued at $841,476,000 after buying an additional 109,336 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Hershey by 95.4% during the third quarter. Franklin Resources Inc. now owns 218,055 shares of the company’s stock worth $40,558,000 after purchasing an additional 106,450 shares during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Trading Up 0.4 %

Shares of HSY stock opened at $178.59 on Wednesday. The firm’s 50-day simple moving average is $160.49 and its 200-day simple moving average is $177.58. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $211.92. The firm has a market cap of $36.14 billion, a P/E ratio of 16.38, a PEG ratio of 5.90 and a beta of 0.37.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. As a group, equities analysts forecast that The Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 17th will be paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Friday, February 14th. Hershey’s dividend payout ratio is currently 50.28%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HSY shares. Piper Sandler cut Hershey from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $153.00 to $120.00 in a report on Friday, January 31st. DA Davidson reduced their price objective on Hershey from $164.00 to $149.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Bernstein Bank reduced their price objective on Hershey from $177.00 to $146.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. JPMorgan Chase & Co. reduced their price objective on Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Wells Fargo & Company reduced their price objective on Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Five analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. According to data from MarketBeat, Hershey currently has a consensus rating of “Hold” and a consensus target price of $164.15.

Insiders Place Their Bets

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total transaction of $41,144.00. Following the transaction, the chief accounting officer now owns 2,682 shares of the company’s stock, valued at $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.34% of the stock is currently owned by insiders.

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.