Mcrae Capital Management Inc. Boosts Position in The Hershey Company (NYSE:HSY)

Mcrae Capital Management Inc. increased its position in The Hershey Company (NYSE:HSY - Free Report) by 15.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,322 shares of the company's stock after purchasing an additional 5,720 shares during the period. Hershey makes up 1.4% of Mcrae Capital Management Inc.'s investment portfolio, making the stock its 26th largest holding. Mcrae Capital Management Inc.'s holdings in Hershey were worth $7,167,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Salomon & Ludwin LLC lifted its stake in Hershey by 23.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 333 shares of the company's stock valued at $64,000 after acquiring an additional 63 shares in the last quarter. Forum Financial Management LP lifted its stake in Hershey by 1.6% during the 3rd quarter. Forum Financial Management LP now owns 4,130 shares of the company's stock valued at $792,000 after acquiring an additional 64 shares in the last quarter. Avestar Capital LLC lifted its stake in Hershey by 6.0% during the 3rd quarter. Avestar Capital LLC now owns 1,175 shares of the company's stock valued at $225,000 after acquiring an additional 67 shares in the last quarter. Massachusetts Wealth Management lifted its stake in Hershey by 1.3% during the 3rd quarter. Massachusetts Wealth Management now owns 6,007 shares of the company's stock valued at $1,152,000 after acquiring an additional 75 shares in the last quarter. Finally, Parthenon LLC lifted its stake in Hershey by 0.3% during the 3rd quarter. Parthenon LLC now owns 24,240 shares of the company's stock valued at $4,649,000 after acquiring an additional 75 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors.

Hershey Price Performance

Shares of HSY traded up $5.20 during trading hours on Tuesday, reaching $163.08. 2,976,787 shares of the company's stock traded hands, compared to its average volume of 2,046,605. The stock has a market cap of $33.00 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 4.89 and a beta of 0.37. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 0.68. The firm's 50 day simple moving average is $161.78 and its 200-day simple moving average is $178.81. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $211.92.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. Equities analysts expect that The Hershey Company will post 6.77 EPS for the current year.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 17th will be given a $1.37 dividend. The ex-dividend date is Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a yield of 3.36%. Hershey's payout ratio is 50.28%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. TD Cowen decreased their target price on Hershey from $190.00 to $172.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Wells Fargo & Company decreased their target price on Hershey from $150.00 to $140.00 and set an "underweight" rating for the company in a research report on Friday, January 17th. JPMorgan Chase & Co. decreased their target price on Hershey from $171.00 to $151.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Piper Sandler lowered Hershey from a "neutral" rating to an "underweight" rating and decreased their target price for the company from $153.00 to $120.00 in a research report on Friday, January 31st. Finally, DA Davidson decreased their target price on Hershey from $164.00 to $149.00 and set a "neutral" rating for the company in a research report on Monday, February 10th. Five research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to MarketBeat.com, Hershey presently has an average rating of "Hold" and an average price target of $164.15.

Insider Buying and Selling

In related news, CAO Jennifer Mccalman sold 278 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $148.00, for a total value of $41,144.00. Following the completion of the sale, the chief accounting officer now owns 2,682 shares in the company, valued at $396,936. The trade was a 9.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Hershey 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.