Bernard Wealth Management Corp. Takes Position in The Hershey Company (NYSE:HSY)

Bernard Wealth Management Corp. purchased a new position in shares of The Hershey Company (NYSE:HSY) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 315 shares of the company’s stock, valued at approximately $53,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in shares of Hershey by 49.1% in the third quarter. Wellington Management Group LLP now owns 4,993 shares of the company’s stock valued at $958,000 after purchasing an additional 1,645 shares during the period. Insigneo Advisory Services LLC acquired a new stake in Hershey in the third quarter valued at about $241,000. iA Global Asset Management Inc. lifted its position in Hershey by 21.4% in the third quarter. iA Global Asset Management Inc. now owns 1,836 shares of the company’s stock valued at $352,000 after purchasing an additional 324 shares during the period. National Bank of Canada FI boosted its holdings in Hershey by 39.7% in the 3rd quarter. National Bank of Canada FI now owns 102,800 shares of the company’s stock valued at $19,715,000 after purchasing an additional 29,213 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in Hershey by 13.5% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 63,842 shares of the company’s stock worth $12,244,000 after purchasing an additional 7,580 shares during the period. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Stock Down 2.3 %

HSY opened at $158.93 on Wednesday. The firm has a market cap of $32.17 billion, a P/E ratio of 14.58, a PEG ratio of 5.90 and a beta of 0.28. 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 business’s fifty day simple moving average is $166.10 and its 200 day simple moving average is $171.94. The Hershey Company has a 52 week low of $140.13 and a 52 week high of $211.92.

Hershey (NYSE:HSY) last released its earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, topping 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%. As a group, equities research analysts anticipate that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were given a dividend of $1.37 per share. The ex-dividend date was Friday, February 14th. This represents a $5.48 annualized dividend and a yield of 3.45%. Hershey’s dividend payout ratio (DPR) is presently 50.28%.

Wall Street Analyst Weigh In

Several research firms have recently commented on HSY. Wells Fargo & Company raised their price target on Hershey from $125.00 to $132.00 and gave the company an “underweight” rating in a report on Friday, March 14th. Piper Sandler cut shares of Hershey from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $153.00 to $120.00 in a research note on Friday, January 31st. Jefferies Financial Group decreased their price objective on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a report on Tuesday, January 21st. Mizuho lowered their target price on shares of Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Hershey from $184.00 to $148.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Five equities research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. According to data from MarketBeat.com, Hershey currently has a consensus rating of “Hold” and an average price target of $162.50.

Insiders Place Their Bets

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

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.