Clark Capital Management Group Inc. Has $44.36 Million Stock Position in Hershey Company (The) $HSY

Clark Capital Management Group Inc. boosted its holdings in shares of Hershey Company (The) (NYSE:HSY) by 2.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 243,785 shares of the company’s stock after buying an additional 6,073 shares during the period. Clark Capital Management Group Inc.’s holdings in Hershey were worth $44,364,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Hershey by 6.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,310 shares of the company’s stock worth $2,618,000 after purchasing an additional 937 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Hershey by 20.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the company’s stock worth $116,000 after purchasing an additional 117 shares during the last quarter. Gamco Investors INC. ET AL acquired a new position in Hershey in the 2nd quarter worth about $267,000. Bank of Nova Scotia increased its position in Hershey by 4.5% in the 2nd quarter. Bank of Nova Scotia now owns 17,927 shares of the company’s stock worth $2,975,000 after purchasing an additional 769 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its position in Hershey by 5.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 22,247 shares of the company’s stock worth $3,692,000 after purchasing an additional 1,149 shares during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Morgan Stanley dropped their target price on Hershey from $247.00 to $227.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. UBS Group decreased their price target on Hershey from $215.00 to $200.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. TD Cowen upgraded Hershey from a “hold” rating to a “buy” rating and set a $210.00 price target for the company in a research note on Friday, May 1st. Evercore upgraded Hershey from an “in-line” rating to an “outperform” rating and set a $255.00 price target for the company in a research note on Wednesday, May 27th. Finally, BTIG Research assumed coverage on Hershey in a research note on Monday, April 13th. They set a “neutral” rating for the company. Seven research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $218.06.

Insider Activity at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $194.10, for a total transaction of $291,150.00. Following the completion of the sale, the chief financial officer directly owned 57,695 shares of the company’s stock, valued at $11,198,599.50. This trade represents a 2.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by company insiders.

Hershey Stock Performance

HSY opened at $182.60 on Wednesday. The stock’s 50 day moving average price is $190.39 and its two-hundred day moving average price is $198.60. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. Hershey Company has a 12-month low of $160.07 and a 12-month high of $239.48. The firm has a market capitalization of $37.04 billion, a P/E ratio of 34.00, a price-to-earnings-growth ratio of 1.09 and a beta of 0.09.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.31. Hershey had a return on equity of 28.98% and a net margin of 9.12%.The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter last year, the company earned $2.09 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities analysts forecast that Hershey Company will post 8.45 earnings per share for the current year.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were given a dividend of $1.452 per share. This represents a $5.81 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, May 15th. Hershey’s dividend payout ratio (DPR) is 108.19%.

Hershey Profile

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.