Golden State Wealth Management LLC Takes Position in The Hershey Company (NYSE:HSY)

Golden State Wealth Management LLC purchased a new position in shares of The Hershey Company (NYSE:HSY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 757 shares of the company’s stock, valued at approximately $128,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC grew its stake in shares of Hershey by 30,461.7% in the 3rd 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. grew its position in Hershey by 66.7% in the 3rd 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 in the last quarter. State Street Corp increased its stake in Hershey by 5.8% in the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock valued at $1,348,127,000 after buying an additional 386,670 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in 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 buying an additional 139,831 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of 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 buying an additional 109,336 shares in the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on HSY. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $178.00 price target on shares of Hershey in a research report on Monday, February 3rd. Piper Sandler cut Hershey from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $153.00 to $120.00 in a research note on Friday, January 31st. Wells Fargo & Company cut their price target on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. 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 report on Wednesday, January 8th. Finally, Bernstein Bank dropped their target price on shares of Hershey from $177.00 to $146.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Six investment analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company’s stock. According to data from MarketBeat, Hershey currently has an average rating of “Hold” and a consensus price target of $166.35.

Hershey Stock Up 1.7 %

HSY stock opened at $154.98 on Monday. The stock has a 50-day simple moving average of $164.38 and a two-hundred day simple moving average of $180.46. The Hershey Company has a twelve month low of $140.13 and a twelve month high of $211.92. The firm has a market capitalization of $31.36 billion, a PE ratio of 14.22, a PEG ratio of 4.89 and a beta of 0.37. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 0.68.

Hershey (NYSE:HSY) last posted its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share 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 predict that The Hershey Company will post 6.77 EPS for the current fiscal year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 17th will be paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.54%. The ex-dividend date of this dividend is Friday, February 14th. Hershey’s dividend payout ratio is 50.28%.

Insider Buying and Selling

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

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.