Rialto Wealth Management LLC Invests $221,000 in The Hershey Company (NYSE:HSY)

Rialto Wealth Management LLC purchased a new stake in shares of The Hershey Company (NYSE:HSY) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 1,305 shares of the company’s stock, valued at approximately $221,000.

A number of other large investors also recently bought and sold shares of the stock. Avestar Capital LLC grew its position in shares of Hershey by 6.0% during the 3rd quarter. Avestar Capital LLC now owns 1,175 shares of the company’s stock valued at $225,000 after acquiring an additional 67 shares during the period. Parthenon LLC increased its position in shares of Hershey by 0.3% in the third quarter. Parthenon LLC now owns 24,240 shares of the company’s stock valued at $4,649,000 after buying an additional 75 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in shares of Hershey by 1.0% during the 3rd quarter. Kingsview Wealth Management LLC now owns 8,151 shares of the company’s stock worth $1,563,000 after buying an additional 80 shares during the period. Private Trust Co. NA lifted its position in shares of Hershey by 1.5% during the 4th quarter. Private Trust Co. NA now owns 5,438 shares of the company’s stock valued at $921,000 after buying an additional 81 shares in the last quarter. Finally, Waterfront Wealth Inc. lifted its position in shares of Hershey by 1.4% during the 4th quarter. Waterfront Wealth Inc. now owns 5,744 shares of the company’s stock valued at $973,000 after buying an additional 82 shares in the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Stock Performance

NYSE:HSY opened at $185.11 on Friday. The company’s 50-day moving average is $161.48 and its two-hundred day moving average is $176.54. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $211.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. The firm has a market capitalization of $37.47 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 5.90 and a beta of 0.32.

Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, February 6th. The company reported $2.69 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%. Analysts forecast that The Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

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 issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Friday, February 14th. Hershey’s dividend payout ratio is presently 50.28%.

Insider Buying and Selling

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction dated Monday, February 3rd. The shares were 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 of the company’s stock, valued at $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HSY shares. Mizuho reduced their price objective on shares of Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. Wells Fargo & Company decreased their price target on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. TD Cowen cut their price objective on Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Piper Sandler downgraded Hershey from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $153.00 to $120.00 in a research report on Friday, January 31st. Finally, Citigroup raised Hershey from a “sell” rating to a “neutral” rating and lowered their price target for the stock from $159.00 to $154.00 in a research note on Friday, February 7th. Five investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $164.15.

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.