Merit Financial Group LLC Makes New Investment in The Hershey Company (NYSE:HSY)

Merit Financial Group LLC acquired a new stake in shares of The Hershey Company (NYSE:HSY) during the fourth quarter, HoldingsChannel reports. The firm acquired 3,860 shares of the company’s stock, valued at approximately $720,000.

A number of other large investors have also modified their holdings of HSY. Costello Asset Management INC acquired a new position in shares of Hershey in the 3rd quarter worth approximately $25,000. BKM Wealth Management LLC acquired a new stake in shares of Hershey in the 4th quarter valued at $26,000. First Financial Corp IN bought a new stake in shares of Hershey in the 4th quarter worth about $29,000. Highlander Capital Management LLC increased its position in shares of 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 purchasing an additional 94 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new position in Hershey during the 4th quarter valued at about $32,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Stock Down 0.7 %

NYSE:HSY opened at $196.49 on Tuesday. The stock’s fifty day simple moving average is $192.08 and its 200-day simple moving average is $190.80. The firm has a market capitalization of $40.07 billion, a P/E ratio of 19.47, a P/E/G ratio of 3.04 and a beta of 0.33. The company has a quick ratio of 0.64, a current ratio of 0.97 and a debt-to-equity ratio of 0.92. The Hershey Company has a 12-month low of $178.82 and a 12-month high of $275.89.

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

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 17th will be given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, May 16th. Hershey’s dividend payout ratio is currently 54.31%.

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 completion of the transaction, the chief financial officer now directly owns 38,728 shares in the company, valued at approximately $7,196,824.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.29% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Sanford C. Bernstein raised shares of Hershey from a “market perform” rating to an “outperform” rating and set a $235.00 price objective on the stock in a research note on Monday, January 29th. Piper Sandler reduced their price objective on Hershey from $200.00 to $179.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th. Citigroup lowered their target price on Hershey from $213.00 to $199.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Barclays upped their price target on shares of Hershey from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Finally, BNP Paribas cut shares of Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 price objective for the company. in a research report on Tuesday, March 26th. One 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’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $213.06.

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.