Brookstone Capital Management Has $12.55 Million Position in Hershey Company (The) $HSY

Brookstone Capital Management lessened its stake in Hershey Company (The) (NYSE:HSY) by 8.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 60,377 shares of the company’s stock after selling 5,592 shares during the period. Brookstone Capital Management’s holdings in Hershey were worth $12,552,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. PBU The Pension Fund of Early Childhood & Youth Educators bought a new position in Hershey in the fourth quarter worth $9,633,000. Prudential PLC increased its holdings in Hershey by 237.3% in the 4th quarter. Prudential PLC now owns 7,988 shares of the company’s stock valued at $1,454,000 after buying an additional 5,620 shares during the period. Friedenthal Financial increased its holdings in Hershey by 38,266.7% in the 4th quarter. Friedenthal Financial now owns 5,755 shares of the company’s stock valued at $1,047,000 after buying an additional 5,740 shares during the period. Jefferies Financial Group Inc. acquired a new position in shares of Hershey in the 4th quarter valued at $2,744,000. Finally, Nordea Investment Management AB raised its stake in shares of Hershey by 833.3% in the 4th quarter. Nordea Investment Management AB now owns 185,314 shares of the company’s stock valued at $33,940,000 after buying an additional 165,458 shares in the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HSY. BTIG Research started coverage on shares of Hershey in a research note on Monday, April 13th. They issued a “neutral” rating on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hershey in a report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft lowered their price objective on Hershey from $212.00 to $200.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Zacks Research cut Hershey from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 7th. Finally, Piper Sandler restated an “overweight” rating and set a $249.00 target price on shares of Hershey in a research report on Wednesday, February 25th. Seven investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $218.06.

Hershey Price Performance

NYSE:HSY opened at $171.10 on Tuesday. The firm has a market cap of $34.71 billion, a PE ratio of 31.86, a price-to-earnings-growth ratio of 1.04 and a beta of 0.09. Hershey Company has a 12 month low of $160.07 and a 12 month high of $239.48. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The company’s 50-day moving average price is $187.55 and its two-hundred day moving average price is $198.23.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.31. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Hershey had a net margin of 9.12% and a return on equity of 28.98%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.09 earnings per share. On average, equities analysts anticipate that Hershey Company will post 8.45 EPS for the current fiscal year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were issued a dividend of $1.452 per share. This represents a $5.81 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, May 15th. Hershey’s dividend payout ratio (DPR) is currently 108.19%.

Insider Transactions at Hershey

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $173.43, for a total value of $260,145.00. Following the transaction, the chief financial officer owned 54,695 shares of the company’s stock, valued at approximately $9,485,753.85. The trade was a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.08% of the company’s stock.

About Hershey

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.