CWA Asset Management Group LLC Invests $719,000 in The Hershey Company (NYSE:HSY)

CWA Asset Management Group LLC acquired a new position in The Hershey Company (NYSE:HSY - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 3,749 shares of the company's stock, valued at approximately $719,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its position in Hershey by 66.7% in the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company's stock worth $186,571,000 after buying an additional 389,404 shares during the last quarter. Blake Schutter Theil Wealth Advisors LLC acquired a new position in shares of Hershey in the 3rd quarter worth $284,000. Forte Capital LLC ADV raised its position in shares of Hershey by 26.0% during the third quarter. Forte Capital LLC ADV now owns 3,074 shares of the company's stock worth $590,000 after purchasing an additional 635 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in shares of Hershey by 4.1% during the third quarter. Concurrent Investment Advisors LLC now owns 10,856 shares of the company's stock valued at $2,082,000 after purchasing an additional 423 shares during the last quarter. Finally, Radnor Capital Management LLC acquired a new position in shares of Hershey in the 3rd quarter valued at $293,000. 57.96% of the stock is currently owned by institutional investors.

Hershey Stock Up 1.5 %

NYSE HSY traded up $2.61 during trading on Monday, hitting $178.28. 1,591,979 shares of the company traded hands, compared to its average volume of 1,686,431. The company has a market capitalization of $36.06 billion, a P/E ratio of 20.62, a PEG ratio of 4.22 and a beta of 0.38. The business has a fifty day simple moving average of $189.17 and a 200 day simple moving average of $192.20. The Hershey Company has a 12 month low of $171.67 and a 12 month high of $211.92. The company has a current ratio of 0.85, a quick ratio of 0.48 and a debt-to-equity ratio of 0.76.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $2.34 earnings per share for the quarter, missing analysts' consensus estimates of $2.50 by ($0.16). The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.07 billion. Hershey had a net margin of 16.17% and a return on equity of 43.24%. As a group, sell-side analysts predict that The Hershey Company will post 9.12 EPS for the current year.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be paid a $1.37 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.07%. Hershey's payout ratio is presently 63.13%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HSY. JPMorgan Chase & Co. reduced their price objective on shares of Hershey from $188.00 to $180.00 and set a "neutral" rating for the company in a research note on Monday, October 14th. Royal Bank of Canada lowered 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 report on Friday. Argus lowered Hershey from a "buy" rating to a "hold" rating in a report on Wednesday, August 14th. Stifel Nicolaus lowered their price target on Hershey from $195.00 to $180.00 and set a "hold" rating on the stock in a report on Friday, October 25th. Finally, Piper Sandler upped their price target on Hershey from $165.00 to $168.00 and gave the company a "neutral" rating in a research report on Friday. Five analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $189.33.

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.