Mengis Capital Management Inc. Has $5.06 Million Stock Holdings in The Hershey Company (NYSE:HSY)

Mengis Capital Management Inc. raised its position in The Hershey Company (NYSE:HSY) by 8.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,395 shares of the company’s stock after acquiring an additional 2,100 shares during the period. Hershey comprises approximately 1.0% of Mengis Capital Management Inc.’s holdings, making the stock its 24th largest holding. Mengis Capital Management Inc.’s holdings in Hershey were worth $5,062,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of HSY. Vanguard Group Inc. lifted its holdings in shares of Hershey by 14.2% during the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after acquiring an additional 2,158,912 shares during the period. Janus Henderson Group PLC lifted its stake in Hershey by 6.5% during the first quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock worth $289,327,000 after purchasing an additional 90,329 shares during the period. Principal Financial Group Inc. boosted its holdings in Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after purchasing an additional 389,404 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Hershey by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock valued at $144,743,000 after purchasing an additional 25,780 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Hershey by 23.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock worth $143,962,000 after buying an additional 147,215 shares in the last quarter. Institutional investors own 57.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Piper Sandler lifted their price target on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Royal Bank of Canada decreased their price objective on shares of Hershey from $205.00 to $183.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and cut their target price for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Finally, Argus lowered Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Five analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $189.33.

Hershey Price Performance

HSY opened at $181.50 on Wednesday. The company has a fifty day moving average price of $188.88 and a two-hundred day moving average price of $192.13. The firm has a market capitalization of $36.72 billion, a PE ratio of 20.91, a P/E/G ratio of 4.28 and a beta of 0.38. The Hershey Company has a 52 week low of $171.67 and a 52 week high of $211.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be issued a $1.37 dividend. The ex-dividend date is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.02%. Hershey’s dividend payout ratio is presently 63.13%.

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.