First Financial Bankshares Inc Invests $10.65 Million in The Hershey Company (NYSE:HSY)

First Financial Bankshares Inc purchased a new stake in shares of The Hershey Company (NYSE:HSY) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 55,519 shares of the company’s stock, valued at approximately $10,647,000.

Several other institutional investors have also added to or reduced their stakes in HSY. Wealth Enhancement Advisory Services LLC grew its stake in shares of Hershey by 62.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 49,407 shares of the company’s stock worth $9,610,000 after purchasing an additional 18,968 shares during the last quarter. Vicus Capital bought a new stake in shares of Hershey in the 1st quarter worth approximately $264,000. Founders Financial Securities LLC purchased a new position in shares of Hershey during the first quarter valued at approximately $467,000. Aviance Capital Partners LLC bought a new position in shares of Hershey during the first quarter valued at approximately $243,000. Finally, Diversified Trust Co lifted its stake in Hershey by 332.3% in the first quarter. Diversified Trust Co now owns 7,838 shares of the company’s stock worth $1,524,000 after acquiring an additional 6,025 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Down 0.5 %

HSY stock opened at $181.26 on Monday. The business’s 50-day moving average price is $192.50 and its 200-day moving average price is $192.71. The stock has a market cap of $36.66 billion, a P/E ratio of 17.96, a PEG ratio of 4.22 and a beta of 0.37. 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.

Hershey (NYSE:HSY) last posted its quarterly earnings results 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). The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. The business’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.01 earnings per share. On average, equities research analysts forecast that The Hershey Company will post 9.45 EPS for the current year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were issued a dividend of $1.37 per share. The ex-dividend date was Friday, August 16th. This represents a $5.48 dividend on an annualized basis and a yield of 3.02%. Hershey’s dividend payout ratio is presently 54.31%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on HSY shares. Royal Bank of Canada cut their target price on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Bank of America lowered their price objective on Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Sanford C. Bernstein cut Hershey from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $230.00 to $205.00 in a research note on Monday, October 7th. Piper Sandler lowered their price target on Hershey from $179.00 to $165.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Finally, The Goldman Sachs Group started coverage on shares of Hershey in a research report on Monday, August 12th. They set a “sell” rating and a $185.00 price objective on the stock. Five analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $191.11.

Insider Activity

In related news, CAO Jennifer Mccalman sold 538 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $199.17, for a total transaction of $107,153.46. Following the completion of the sale, the chief accounting officer now owns 3,238 shares in the company, valued at approximately $644,912.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% of the company’s stock.

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.