CWA Asset Management Group LLC Makes New Investment in The Hershey Company (NYSE:HSY)

CWA Asset Management Group LLC acquired a new stake in The Hershey Company (NYSE:HSY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,749 shares of the company’s stock, valued at approximately $719,000.

Other institutional investors have also recently made changes to their positions in the company. LPL Financial LLC grew its stake in shares of Hershey by 10.0% in the second quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock worth $58,951,000 after acquiring an additional 29,246 shares in the last quarter. CreativeOne Wealth LLC grew its stake in Hershey by 179.4% during the 1st quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock worth $1,353,000 after purchasing an additional 4,468 shares in the last quarter. SG Americas Securities LLC increased its holdings in Hershey by 239.2% during the 1st quarter. SG Americas Securities LLC now owns 22,035 shares of the company’s stock worth $4,286,000 after purchasing an additional 15,538 shares during the period. Sei Investments Co. raised its position in Hershey by 2.2% in the 1st quarter. Sei Investments Co. now owns 54,540 shares of the company’s stock valued at $10,608,000 after purchasing an additional 1,168 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of Hershey by 20.1% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 15,716 shares of the company’s stock valued at $2,986,000 after buying an additional 2,635 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Price Performance

Shares of NYSE:HSY opened at $175.67 on Monday. The stock has a market capitalization of $35.54 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 4.22 and a beta of 0.38. The Hershey Company has a one year low of $171.67 and a one year high of $211.92. The company has a 50-day simple moving average of $189.17 and a 200-day simple moving average of $192.17. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.48 and a current ratio of 0.85.

Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, November 7th. The company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.16). The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.07 billion. Hershey had a return on equity of 43.24% and a net margin of 16.17%. On average, analysts predict that The Hershey Company will post 9.12 EPS for the current year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be given a dividend of $1.37 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.12%. Hershey’s payout ratio is currently 63.13%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. The Goldman Sachs Group began coverage on shares of Hershey in a report on Monday, August 12th. They issued a “sell” rating and a $185.00 target price on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Citigroup downgraded shares of Hershey from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $195.00 to $182.00 in a research note on Tuesday, August 27th. Piper Sandler raised their price target on Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Sanford C. Bernstein cut Hershey from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $230.00 to $205.00 in a research report on Monday, October 7th. Five investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. Based on data from MarketBeat.com, Hershey currently has an average rating of “Hold” and a consensus price target of $190.56.

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.