Accurate Wealth Management LLC Purchases 58 Shares of The Hershey Company (NYSE:HSY) (2024)

Posted by matt on Mar 24th, 2024

Accurate Wealth Management LLC grew its position in The Hershey Company (NYSE:HSY – Free Report) by 4.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,428 shares of the company’s stock after acquiring an additional 58 shares during the quarter. Accurate Wealth Management LLC’s holdings in Hershey were worth $272,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pinnacle Bancorp Inc. bought a new position in shares of Hershey during the 3rd quarter worth approximately $25,000. Costello Asset Management INC acquired a new stake in Hershey during the 3rd quarter valued at $25,000. BKM Wealth Management LLC acquired a new stake in Hershey during the 4th quarter valued at $26,000. Zions Bancorporation N.A. increased its holdings in Hershey by 121.3% during the 1st quarter. Zions Bancorporation N.A. now owns 135 shares of the company’s stock valued at $29,000 after purchasing an additional 74 shares in the last quarter. Finally, Indiana Trust & Investment Management CO acquired a new stake in Hershey during the 3rd quarter valued at $30,000. Institutional investors own 56.47% of the company’s stock.

Hershey Stock Down 0.7 %

Shares of Hershey stock traded down $1.32 during trading on Friday, reaching $197.99. The stock had a trading volume of 1,127,392 shares, compared to its average volume of 2,645,938. The company has a market capitalization of $40.38 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 3.04 and a beta of 0.34. The stock has a fifty day moving average price of $193.20 and a two-hundred day moving average price of $193.16. The Hershey Company has a 52 week low of $178.82 and a 52 week high of $276.88. The company has a current ratio of 0.97, a quick ratio of 0.52 and a debt-to-equity ratio of 0.92.

Hershey (NYSE:HSY – Get Free Report) last posted its earnings results on Thursday, February 8th. The company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.95 by $0.07. Hershey had a return on equity of 51.79% and a net margin of 16.67%. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.72 billion. During the same quarter in the prior year, the business earned $2.02 earnings per share. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts predict that The Hershey Company will post 9.59 EPS for the current fiscal year.

Hershey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th were given a $1.37 dividend. This is an increase from Hershey’s previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Friday, February 16th. This represents a $5.48 annualized dividend and a dividend yield of 2.77%. Hershey’s dividend payout ratio is presently 60.55%.

Insider Activity

In related news, CAO Jennifer Mccalman sold 453 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $198.54, for a total value of $89,938.62. Following the completion of the sale, the chief accounting officer now directly owns 1,862 shares in the company, valued at $369,681.48. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CAO Jennifer Mccalman sold 453 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $198.54, for a total value of $89,938.62. Following the completion of the sale, the chief accounting officer now directly owns 1,862 shares in the company, valued at $369,681.48. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $182.07, for a total value of $273,105.00. Following the completion of the sale, the chief financial officer now owns 31,316 shares of the company’s stock, valued at $5,701,704.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,518 shares of company stock valued at $1,042,669. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on HSY. DA Davidson began coverage on Hershey in a report on Friday, December 8th. They set a “neutral” rating and a $205.00 price target for the company. Barclays lifted their target price on Hershey from $200.00 to $210.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Morgan Stanley cut Hershey from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $191.00 to $183.00 in a research note on Monday, February 12th. Wells Fargo & Company lifted their target price on Hershey from $190.00 to $210.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Finally, Citigroup assumed coverage on Hershey in a research note on Thursday, February 1st. They issued a “neutral” rating and a $213.00 target price for the company. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Hershey currently has an average rating of “Hold” and a consensus price target of $228.33.

Read Our Latest Stock Report on HSY

Hershey Profile

(Free Report)

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.

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