Mcrae Capital Management Inc. Purchases 550 Shares of The Hershey Company (NYSE:HSY)

Mcrae Capital Management Inc. boosted its position in The Hershey Company (NYSE:HSY) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,602 shares of the company’s stock after purchasing an additional 550 shares during the period. Hershey makes up approximately 1.4% of Mcrae Capital Management Inc.’s investment portfolio, making the stock its 26th biggest holding. Mcrae Capital Management Inc.’s holdings in Hershey were worth $7,020,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Capital Advisors Ltd. LLC raised its holdings in shares of Hershey by 218.2% in the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after buying an additional 96 shares during the period. GHP Investment Advisors Inc. increased its stake in Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares during the period. OFI Invest Asset Management purchased a new stake in Hershey in the second quarter worth $29,000. Crewe Advisors LLC bought a new stake in shares of Hershey during the first quarter worth $35,000. Finally, Park Place Capital Corp purchased a new stake in shares of Hershey during the first quarter valued at $36,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Insider Activity

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the sale, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.34% of the company’s stock.

Hershey Price Performance

Shares of HSY opened at $181.26 on Friday. The company has a 50 day moving average of $192.50 and a two-hundred day moving average of $192.71. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The Hershey Company has a twelve month low of $178.82 and a twelve month high of $211.92. The company has a market cap of $36.67 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 4.22 and a beta of 0.37.

Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). Hershey had a return on equity of 45.36% and a net margin of 16.76%. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period in the previous year, the business earned $2.01 EPS. The firm’s revenue for the quarter was down 16.7% compared to the same quarter last year. As a group, analysts predict that The Hershey Company will post 9.45 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were paid a dividend of $1.37 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.02%. Hershey’s payout ratio is 60.89%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HSY. Redburn Atlantic initiated coverage on shares of Hershey in a report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective for the company. UBS Group downgraded shares of Hershey from a “buy” rating to a “neutral” rating and decreased their price target for the company from $226.00 to $209.00 in a research note on Monday, October 7th. Citigroup downgraded Hershey from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $195.00 to $182.00 in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft upped their target price on Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group initiated coverage on Hershey in a research note on Monday, August 12th. They set a “sell” rating and a $185.00 price target on the stock. Five research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. According to data from MarketBeat, Hershey currently has an average rating of “Hold” and a consensus price target of $191.55.

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.