Mcrae Capital Management Inc. Purchases 5,720 Shares of The Hershey Company (NYSE:HSY)

Mcrae Capital Management Inc. lifted its position in shares of The Hershey Company (NYSE:HSY) by 15.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,322 shares of the company’s stock after purchasing an additional 5,720 shares during the quarter. Hershey accounts for 1.4% of Mcrae Capital Management Inc.’s portfolio, making the stock its 26th largest position. Mcrae Capital Management Inc.’s holdings in Hershey were worth $7,167,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in HSY. International Assets Investment Management LLC lifted its holdings in Hershey by 30,461.7% during the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock worth $1,100,130,000 after acquiring an additional 571,766 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after purchasing an additional 389,404 shares during the period. State Street Corp lifted its holdings in shares of Hershey by 5.8% during the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock valued at $1,348,127,000 after purchasing an additional 386,670 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position 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 purchasing an additional 139,831 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Hershey by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock worth $841,476,000 after purchasing an additional 109,336 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Stock Up 1.8 %

Hershey stock opened at $160.92 on Friday. The Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $211.92. The firm has a market capitalization of $32.56 billion, a PE ratio of 14.76, a P/E/G ratio of 4.89 and a beta of 0.37. The company’s 50-day moving average is $163.10 and its 200-day moving average is $179.71. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.54.

Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts anticipate that The Hershey Company will post 6.77 earnings per share for the current year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 17th will be given a dividend of $1.37 per share. The ex-dividend date is Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a yield of 3.41%. Hershey’s dividend payout ratio (DPR) is 50.28%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HSY shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of Hershey from $184.00 to $148.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. DA Davidson cut their price objective on shares of Hershey from $164.00 to $149.00 and set a “neutral” rating on the stock in a research report on Monday. Royal Bank of Canada reiterated a “sector perform” rating and set a $178.00 target price on shares of Hershey in a report on Monday, February 3rd. Piper Sandler lowered Hershey from a “neutral” rating to an “underweight” rating and cut their price target for the company from $153.00 to $120.00 in a report on Friday, January 31st. Finally, Jefferies Financial Group decreased their price objective on Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a report on Tuesday, January 21st. Five equities research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company’s stock. According to MarketBeat.com, Hershey has a consensus rating of “Hold” and a consensus price target of $164.15.

Insiders Place Their Bets

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

Hershey Company 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.