Elevate Capital Advisors LLC Invests $1.94 Million in The Hershey Company (NYSE:HSY)

Elevate Capital Advisors LLC bought a new position in The Hershey Company (NYSE:HSY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,448 shares of the company’s stock, valued at approximately $1,939,000. Hershey makes up 1.7% of Elevate Capital Advisors LLC’s portfolio, making the stock its 18th biggest holding.

A number of other large investors have also bought and sold shares of the business. International Assets Investment Management LLC boosted its stake in Hershey by 30,461.7% in the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock worth $1,100,130,000 after purchasing an additional 571,766 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Hershey by 66.7% in the third 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 last quarter. State Street Corp lifted its position in Hershey by 5.8% during the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after buying an additional 386,670 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Hershey by 31.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company’s stock worth $112,491,000 after acquiring an additional 139,831 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in 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 acquiring an additional 109,336 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Jennifer Mccalman sold 278 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the sale, the chief accounting officer now directly owns 2,682 shares of the company’s stock, valued at approximately $396,936. The trade was a 9.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on HSY shares. Wells Fargo & Company reduced their target price on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Redburn Atlantic assumed coverage on Hershey in a research report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective on the stock. Mizuho dropped their target price on Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. Citigroup upgraded Hershey from a “sell” rating to a “neutral” rating and decreased their price target for the company from $159.00 to $154.00 in a report on Friday. Finally, Piper Sandler lowered Hershey from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $153.00 to $120.00 in a research report on Friday, January 31st. Six analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to MarketBeat, Hershey currently has an average rating of “Hold” and an average price target of $166.35.

Hershey Price Performance

Shares of HSY stock opened at $154.98 on Monday. The firm has a market capitalization of $31.36 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 4.89 and a beta of 0.37. The Hershey Company has a 12-month low of $140.13 and a 12-month high of $211.92. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. The firm has a fifty day moving average of $164.38 and a 200-day moving average of $180.46.

Hershey (NYSE:HSY) last announced its quarterly earnings results on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. On average, equities research analysts forecast that The Hershey Company will post 6.77 earnings per share for the current year.

Hershey Announces Dividend

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 $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Friday, February 14th. Hershey’s payout ratio is currently 50.28%.

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.