Oak Harvest Investment Services Makes New $5.38 Million Investment in The Hershey Company (NYSE:HSY)

Oak Harvest Investment Services acquired a new position in The Hershey Company (NYSE:HSY) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 27,679 shares of the company’s stock, valued at approximately $5,383,000.

A number of other large investors have also added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in Hershey by 7.7% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 754 shares of the company’s stock valued at $141,000 after acquiring an additional 54 shares during the period. Raleigh Capital Management Inc. lifted its holdings in shares of Hershey by 20.6% in the 4th quarter. Raleigh Capital Management Inc. now owns 316 shares of the company’s stock worth $59,000 after buying an additional 54 shares during the period. Sound View Wealth Advisors Group LLC lifted its holdings in shares of Hershey by 1.5% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 3,661 shares of the company’s stock worth $683,000 after buying an additional 55 shares during the period. Great Valley Advisor Group Inc. lifted its holdings in shares of Hershey by 1.0% in the 4th quarter. Great Valley Advisor Group Inc. now owns 5,839 shares of the company’s stock worth $1,089,000 after buying an additional 57 shares during the period. Finally, Mount Lucas Management LP lifted its holdings in shares of Hershey by 0.6% in the 4th quarter. Mount Lucas Management LP now owns 9,619 shares of the company’s stock worth $1,793,000 after buying an additional 57 shares during the period. Institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

Shares of Hershey stock traded down $0.90 during mid-day trading on Thursday, reaching $183.75. 1,014,814 shares of the stock traded hands, compared to its average volume of 1,569,323. The business has a 50-day moving average of $194.02 and a 200 day moving average of $192.16. The Hershey Company has a fifty-two week low of $178.82 and a fifty-two week high of $251.71. The stock has a market capitalization of $37.16 billion, a PE ratio of 18.21, a PEG ratio of 4.13 and a beta of 0.36. 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 announced its earnings results on Friday, May 3rd. The company reported $3.07 EPS for the quarter, beating analysts’ consensus estimates of $2.74 by $0.33. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter in the prior year, the firm earned $2.96 earnings per share. The business’s revenue was up 8.9% compared to the same quarter last year. On average, analysts predict that The Hershey Company will post 9.59 EPS for the current year.

Hershey Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HSY. BNP Paribas cut Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 target price for the company. in a report on Tuesday, March 26th. Citigroup reduced their price target on Hershey from $213.00 to $199.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Barclays reduced their price target on Hershey from $210.00 to $204.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 18th. Royal Bank of Canada reissued a “sector perform” rating and issued a $213.00 price target on shares of Hershey in a research report on Friday, March 15th. Finally, Wells Fargo & Company reduced their price target on Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Friday, June 21st. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $209.67.

Insider Activity at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the 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 completion of the sale, the chief financial officer now owns 37,228 shares of the company’s stock, valued at $7,614,615.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 4,500 shares of company stock valued at $859,950. 0.29% of the stock is currently owned by insiders.

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.