Clearstead Trust LLC Increases Holdings in The Hershey Company (NYSE:HSY)

Clearstead Trust LLC raised its stake in The Hershey Company (NYSE:HSY) by 5.9% during the fourth quarter, HoldingsChannel reports. The fund owned 8,445 shares of the company’s stock after buying an additional 474 shares during the period. Clearstead Trust LLC’s holdings in Hershey were worth $1,574,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of HSY. Costello Asset Management INC bought a new stake in shares of Hershey during the third quarter valued at approximately $25,000. BKM Wealth Management LLC purchased a new stake in Hershey during the 4th quarter valued at $26,000. First Financial Corp IN bought a new stake in shares of Hershey in the 4th quarter worth $29,000. Highlander Capital Management LLC increased its holdings in shares of Hershey by 125.3% in the 4th quarter. Highlander Capital Management LLC now owns 169 shares of the company’s stock worth $32,000 after purchasing an additional 94 shares in the last quarter. Finally, Rakuten Securities Inc. purchased a new position in shares of Hershey in the fourth quarter worth $32,000. 57.96% of the stock is currently owned by institutional investors.

Hershey Stock Performance

NYSE HSY traded up $2.04 on Friday, reaching $197.92. 3,396,043 shares of the stock were exchanged, compared to its average volume of 1,711,441. The company has a current ratio of 0.97, a quick ratio of 0.52 and a debt-to-equity ratio of 0.92. The Hershey Company has a one year low of $178.82 and a one year high of $275.89. The firm has a market capitalization of $40.37 billion, a PE ratio of 21.87, a PEG ratio of 3.01 and a beta of 0.33. The company’s 50-day simple moving average is $191.93 and its two-hundred day simple moving average is $190.76.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Friday, May 3rd. The company reported $3.07 EPS for the quarter, beating the consensus estimate of $2.74 by $0.33. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.11 billion. Hershey had a net margin of 16.67% and a return on equity of 51.79%. The company’s revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm earned $2.96 EPS. Analysts expect that The Hershey Company will post 9.6 EPS for the current fiscal year.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 17th will be paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Thursday, May 16th. Hershey’s dividend payout ratio (DPR) is 60.55%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Sanford C. Bernstein upgraded Hershey from a “market perform” rating to an “outperform” rating and set a $235.00 price objective for the company in a report on Monday, January 29th. Barclays boosted their price objective on shares of Hershey from $200.00 to $210.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. BNP Paribas downgraded shares of Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 target price for the company. in a research report on Tuesday, March 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $213.00 price target on shares of Hershey in a report on Friday, March 15th. Finally, Stifel Nicolaus raised their price target on Hershey from $195.00 to $205.00 and gave the stock a “hold” rating in a research note on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $212.78.

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $185.83, for a total value of $278,745.00. Following the transaction, the chief financial officer now directly owns 38,728 shares of the company’s stock, valued at approximately $7,196,824.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is currently owned by company 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.