Park Place Capital Corp Makes New Investment in The Hershey Company (NYSE:HSY)

Park Place Capital Corp purchased a new position in shares of The Hershey Company (NYSE:HSY) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 185 shares of the company’s stock, valued at approximately $36,000.

Several other large investors have also recently made changes to their positions in HSY. BKM Wealth Management LLC purchased a new position in shares of Hershey in the fourth quarter worth $26,000. Riverview Trust Co purchased a new position in shares of Hershey in the first quarter worth $29,000. First Financial Corp IN purchased a new position in shares of Hershey in the fourth quarter worth $29,000. Highlander Capital Management LLC increased its stake in shares of Hershey by 125.3% in 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 during the period. Finally, Rakuten Securities Inc. bought a new stake in Hershey in the fourth quarter valued at $32,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Stock Down 0.8 %

NYSE HSY opened at $182.45 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.64 and a current ratio of 0.97. The company has a market capitalization of $36.90 billion, a P/E ratio of 18.08, a P/E/G ratio of 4.11 and a beta of 0.36. The Hershey Company has a one year low of $178.82 and a one year high of $251.73. The stock has a 50 day moving average price of $194.24 and a 200-day moving average price of $192.22.

Hershey (NYSE:HSY) last released its quarterly earnings results on Friday, May 3rd. The company reported $3.07 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.33. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same quarter in the prior year, the firm posted $2.96 EPS. Hershey’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts predict that The Hershey Company will post 9.59 EPS for the current fiscal year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 17th were issued a dividend of $1.37 per share. The ex-dividend date was Thursday, May 16th. This represents a $5.48 annualized dividend and a yield of 3.00%. Hershey’s payout ratio is presently 54.31%.

Insider Activity at Hershey

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $204.54, for a total value of $306,810.00. Following the sale, the chief financial officer now owns 37,228 shares in the company, valued at $7,614,615.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 4,500 shares of company stock worth $859,950. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on HSY shares. Barclays dropped their target price on shares of Hershey from $210.00 to $204.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 18th. Wells Fargo & Company decreased their target price on Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Friday, June 21st. Citigroup decreased their target price on Hershey from $213.00 to $199.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Edward Jones reissued a “hold” rating on shares of Hershey in a research report on Friday, April 19th. Finally, Piper Sandler reissued a “neutral” rating and issued a $179.00 target price 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $209.67.

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.