Sendero Wealth Management LLC Takes $202,000 Position in The Hershey Company (NYSE:HSY)

Sendero Wealth Management LLC acquired a new stake in shares of The Hershey Company (NYSE:HSY) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,036 shares of the company’s stock, valued at approximately $202,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BKM Wealth Management LLC bought a new stake in shares of Hershey during the fourth quarter valued at approximately $26,000. First Financial Corp IN bought a new stake in Hershey during the fourth quarter worth $29,000. Riverview Trust Co bought a new stake in Hershey during the first quarter worth $29,000. Highlander Capital Management LLC grew its holdings in Hershey by 125.3% during the fourth 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. Finally, Rakuten Securities Inc. bought a new stake in Hershey during the fourth quarter worth $32,000. Institutional investors own 57.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HSY. Argus decreased their price target on Hershey from $240.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Wells Fargo & Company cut their price objective on Hershey from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. Citigroup cut their price objective on Hershey from $213.00 to $199.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Royal Bank of Canada reissued a “sector perform” rating and issued a $213.00 price objective on shares of Hershey in a research report on Friday, March 15th. Finally, Piper Sandler reissued a “neutral” rating and issued a $179.00 price objective on shares of Hershey in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $209.67.

Insider Activity

In other news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $204.54, for a total transaction of $306,810.00. Following the transaction, the chief financial officer now directly owns 37,228 shares in the company, valued at approximately $7,614,615.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 4,500 shares of company stock worth $859,950. 0.34% of the stock is currently owned by insiders.

Hershey Price Performance

Shares of NYSE HSY opened at $183.83 on Friday. The firm has a market capitalization of $37.18 billion, a P/E ratio of 18.22, a P/E/G ratio of 4.11 and a beta of 0.37. 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 stock’s 50-day simple moving average is $194.24 and its two-hundred day simple moving average is $192.15. The Hershey Company has a twelve month low of $178.82 and a twelve month high of $251.73.

Hershey (NYSE:HSY) last announced its earnings results on Friday, May 3rd. The company reported $3.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.33. The business had revenue of $3.25 billion for 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 quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.96 EPS. As a group, equities analysts anticipate that The Hershey Company will post 9.59 EPS for the current fiscal year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 17th were given a dividend of $1.37 per share. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $5.48 annualized dividend and a dividend yield of 2.98%. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

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.