Mengis Capital Management Inc. Has $4.58 Million Position in The Hershey Company (NYSE:HSY)

Mengis Capital Management Inc. grew its stake in The Hershey Company (NYSE:HSY) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,065 shares of the company’s stock after acquiring an additional 670 shares during the period. Hershey accounts for approximately 0.9% of Mengis Capital Management Inc.’s holdings, making the stock its 26th largest position. Mengis Capital Management Inc.’s holdings in Hershey were worth $4,583,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in shares of Hershey by 107.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 17,609 shares of the company’s stock worth $3,377,000 after purchasing an additional 9,129 shares in the last quarter. Forsta AP Fonden lifted its stake in Hershey by 77.0% in the third quarter. Forsta AP Fonden now owns 45,500 shares of the company’s stock valued at $8,726,000 after acquiring an additional 19,800 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Hershey by 19.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 101,624 shares of the company’s stock valued at $19,490,000 after acquiring an additional 16,345 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Hershey by 21.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 45,821 shares of the company’s stock worth $8,864,000 after purchasing an additional 8,134 shares during the last quarter. Finally, First Financial Bankshares Inc bought a new stake in shares of Hershey in the 3rd quarter valued at about $10,647,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on HSY shares. UBS Group reduced their price target on Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. DA Davidson decreased their target price on Hershey from $164.00 to $149.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Jefferies Financial Group cut their price target on Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a report on Tuesday, January 21st. TD Cowen decreased their price objective on shares of Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, Wells Fargo & Company cut their target price on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Five analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $164.15.

Hershey Stock Up 3.0 %

Shares of NYSE HSY opened at $178.12 on Tuesday. The Hershey Company has a 52 week low of $140.13 and a 52 week high of $211.92. The stock’s fifty day moving average is $160.47 and its 200 day moving average is $177.74. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96. The stock has a market capitalization of $36.04 billion, a P/E ratio of 16.34, a PEG ratio of 5.90 and a beta of 0.37.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, beating the consensus estimate of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. Sell-side analysts forecast that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 17th will be paid a $1.37 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $5.48 annualized dividend and a dividend yield of 3.08%. Hershey’s payout ratio is 50.28%.

Insider Transactions at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of Hershey 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 transaction, the chief accounting officer now owns 2,682 shares in the company, valued at $396,936. The trade was a 9.39 % decrease in their ownership of the stock. 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 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.