SlateStone Wealth LLC Grows Position in The Hershey Company (NYSE:HSY)

SlateStone Wealth LLC boosted its stake in shares of The Hershey Company (NYSE:HSY) by 11.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,881 shares of the company’s stock after purchasing an additional 701 shares during the period. SlateStone Wealth LLC’s holdings in Hershey were worth $1,165,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HSY. Grove Bank & Trust grew its position in Hershey by 248.0% during the 4th quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 124 shares during the last quarter. Vision Financial Markets LLC purchased a new stake in Hershey during the 4th quarter worth approximately $29,000. ST Germain D J Co. Inc. grew its position in Hershey by 61.7% during the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock worth $44,000 after purchasing an additional 100 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in Hershey during the 3rd quarter worth approximately $46,000. Finally, City State Bank grew its position in Hershey by 210.0% during the 4th quarter. City State Bank now owns 310 shares of the company’s stock worth $52,000 after purchasing an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

Hershey stock opened at $170.32 on Monday. The Hershey Company has a 52-week low of $140.13 and a 52-week high of $211.92. The firm has a market capitalization of $34.47 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 5.90 and a beta of 0.32. The company has a fifty day simple moving average of $162.15 and a 200-day simple moving average of $175.74. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68.

Hershey (NYSE:HSY) last released its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) 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%. On average, equities analysts anticipate that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date was Friday, February 14th. Hershey’s dividend payout ratio is currently 50.28%.

Insider Activity at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the completion of the sale, the chief accounting officer now owns 2,682 shares of the company’s stock, valued at approximately $396,936. This represents a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

HSY has been the subject of several research reports. DA Davidson decreased their price objective on shares of Hershey from $164.00 to $149.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. TD Cowen decreased their price objective on shares of Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Royal Bank of Canada restated a “sector perform” rating and set a $178.00 price objective on shares of Hershey in a research note on Monday, February 3rd. UBS Group decreased their price objective on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Stifel Nicolaus decreased their price objective on shares of Hershey from $170.00 to $160.00 and set a “hold” rating for the company in a research note on Friday, February 7th. Five research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $163.75.

About Hershey

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.