The Hershey Company (NYSE:HSY) Holdings Lifted by Belpointe Asset Management LLC

Belpointe Asset Management LLC increased its holdings in The Hershey Company (NYSE:HSY) by 26.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,663 shares of the company’s stock after acquiring an additional 2,215 shares during the period. Belpointe Asset Management LLC’s holdings in Hershey were worth $1,806,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of HSY. UNIVEST FINANCIAL Corp grew its stake in Hershey by 1.5% in the fourth quarter. UNIVEST FINANCIAL Corp now owns 4,500 shares of the company’s stock valued at $762,000 after purchasing an additional 68 shares in the last quarter. OLD Point Trust & Financial Services N A lifted its holdings in shares of Hershey by 2.2% during the 4th quarter. OLD Point Trust & Financial Services N A now owns 3,240 shares of the company’s stock valued at $549,000 after buying an additional 70 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of Hershey by 1.3% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,546 shares of the company’s stock valued at $939,000 after buying an additional 70 shares in the last quarter. Covestor Ltd increased its holdings in Hershey by 42.5% in the fourth quarter. Covestor Ltd now owns 238 shares of the company’s stock worth $40,000 after buying an additional 71 shares during the last quarter. Finally, Private Trust Co. NA raised its position in Hershey by 1.5% during the fourth quarter. Private Trust Co. NA now owns 5,438 shares of the company’s stock valued at $921,000 after acquiring an additional 81 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. UBS Group dropped their price target on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Bernstein Bank lowered 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 report on Wednesday, February 5th. TD Cowen cut their target price on Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Morgan Stanley began coverage on Hershey in a research note on Monday, March 24th. They set an “equal weight” rating and a $183.00 price target for the company. Finally, Citigroup raised Hershey from a “sell” rating to a “neutral” rating and cut their price objective for the company from $159.00 to $154.00 in a research note on Friday, February 7th. Five research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. According to MarketBeat.com, Hershey has an average rating of “Hold” and an average price target of $162.50.

Insider Activity at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction of $41,144.00. Following the completion of the transaction, the chief accounting officer now owns 2,682 shares in the company, valued at $396,936. This trade represents a 9.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by insiders.

Hershey Stock Up 2.8 %

HSY stock opened at $170.25 on Tuesday. The Hershey Company has a twelve month low of $140.13 and a twelve month high of $211.92. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. The company has a market cap of $34.46 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 5.90 and a beta of 0.28. The business’s 50-day simple moving average is $167.88 and its 200 day simple moving average is $171.00.

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 analysts’ consensus estimates of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. On average, research analysts anticipate that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were given a dividend of $1.37 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $5.48 annualized dividend and a dividend yield of 3.22%. Hershey’s dividend payout ratio (DPR) is currently 50.28%.

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.