Founders Financial Securities LLC Invests $467,000 in The Hershey Company (NYSE:HSY)

Founders Financial Securities LLC purchased a new position in The Hershey Company (NYSE:HSY) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,400 shares of the company’s stock, valued at approximately $467,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BKM Wealth Management LLC purchased a new stake in shares of Hershey in the fourth quarter worth approximately $26,000. Riverview Trust Co purchased a new position in Hershey during the 1st quarter worth $29,000. First Financial Corp IN purchased a new position in Hershey during the 4th quarter worth $29,000. Highlander Capital Management LLC increased its holdings in 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 during the period. Finally, Rakuten Securities Inc. purchased a new position in Hershey during the 4th quarter worth $32,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Price Performance

Shares of Hershey stock traded up $0.15 on Friday, hitting $183.83. 5,542,376 shares of the company were exchanged, compared to its average volume of 1,450,476. The stock has a market capitalization of $37.18 billion, a price-to-earnings ratio of 18.22, a price-to-earnings-growth ratio of 4.11 and a beta of 0.37. The company has a 50-day moving average price of $194.24 and a 200 day moving average price of $192.20. The Hershey Company has a 1-year low of $178.82 and a 1-year high of $251.73. The company has a quick ratio of 0.64, a current ratio of 0.97 and a debt-to-equity ratio of 0.92.

Hershey (NYSE:HSY) last issued its earnings results on Friday, May 3rd. The company reported $3.07 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.33. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The business’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 firm posted $2.96 EPS. As a group, sell-side analysts predict that The Hershey Company will post 9.59 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 17th were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Thursday, May 16th. Hershey’s dividend payout ratio is presently 54.31%.

Insider Activity at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 37,228 shares in the company, valued at $7,614,615.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 4,500 shares of company stock worth $859,950. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

HSY has been the topic of a number of analyst reports. Edward Jones reiterated a “hold” rating on shares of Hershey in a report on Friday, April 19th. Argus cut their price target on Hershey from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $213.00 price target on shares of Hershey in a report on Friday, March 15th. Piper Sandler reissued a “neutral” rating and issued a $179.00 price objective on shares of Hershey in a report on Friday, June 21st. Finally, Citigroup cut their price target on Hershey from $213.00 to $199.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $209.67.

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.