Transcendent Capital Group LLC Purchases Shares of 200 The Hershey Company (NYSE:HSY)

Transcendent Capital Group LLC purchased a new position in shares of The Hershey Company (NYSE:HSY) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 200 shares of the company’s stock, valued at approximately $37,000.

A number of other institutional investors have also modified their holdings of HSY. BKM Wealth Management LLC acquired a new position in Hershey in the 4th quarter valued at about $26,000. First Financial Corp IN purchased a new stake in Hershey during the 4th quarter worth approximately $29,000. Highlander Capital Management LLC lifted its holdings in Hershey by 125.3% during the 4th quarter. Highlander Capital Management LLC now owns 169 shares of the company’s stock worth $32,000 after buying an additional 94 shares in the last quarter. Rakuten Securities Inc. purchased a new position in Hershey in the 4th quarter valued at approximately $32,000. Finally, Quarry LP acquired a new position in shares of Hershey in the fourth quarter worth $34,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Stock Performance

HSY stock traded up $1.39 on Friday, hitting $186.98. The company’s stock had a trading volume of 1,145,262 shares, compared to its average volume of 1,342,495. The company has a current ratio of 0.97, a quick ratio of 0.64 and a debt-to-equity ratio of 0.92. The stock has a market cap of $37.81 billion, a price-to-earnings ratio of 18.53, a price-to-earnings-growth ratio of 4.18 and a beta of 0.37. The Hershey Company has a 1 year low of $178.82 and a 1 year high of $263.29. The firm has a 50 day moving average of $195.00 and a two-hundred day moving average of $192.49.

Hershey (NYSE:HSY) last released its quarterly earnings results on Friday, May 3rd. The company reported $3.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.74 by $0.33. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter last year, the company posted $2.96 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. Equities analysts predict that The Hershey Company will post 9.6 EPS for the current fiscal year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 17th were paid a $1.37 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $5.48 annualized dividend and a yield of 2.93%. Hershey’s dividend payout ratio is currently 54.31%.

Insiders Place Their Bets

In related news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $185.83, for a total value of $278,745.00. Following the completion of the sale, the chief financial officer now owns 38,728 shares in the company, valued at $7,196,824.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last quarter, insiders sold 4,500 shares of company stock worth $882,405. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on HSY shares. Wells Fargo & Company increased their price objective on Hershey from $200.00 to $205.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. Citigroup decreased their price objective on Hershey from $213.00 to $199.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Argus cut their target price on shares of Hershey from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Piper Sandler reduced their target price on shares of Hershey from $200.00 to $179.00 and set a “neutral” rating on the stock in a report on Monday, April 15th. Finally, BNP Paribas cut shares of Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 price target for the company. in a report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Hershey currently has a consensus rating of “Hold” and a consensus price target of $210.56.

About Hershey

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.