SPC Financial Inc. Purchases 75 Shares of The Hershey Company (NYSE:HSY)

SPC Financial Inc. grew its position in shares of The Hershey Company (NYSE:HSY) by 2.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,780 shares of the company’s stock after buying an additional 75 shares during the quarter. SPC Financial Inc.’s holdings in Hershey were worth $735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of HSY. The Manufacturers Life Insurance Company raised its holdings in Hershey by 6.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 108,993 shares of the company’s stock worth $21,807,000 after purchasing an additional 6,538 shares during the period. Belpointe Asset Management LLC raised its holdings in Hershey by 4.7% in the 3rd quarter. Belpointe Asset Management LLC now owns 1,725 shares of the company’s stock worth $345,000 after purchasing an additional 78 shares during the period. Harbour Investments Inc. raised its holdings in Hershey by 195.9% in the 3rd quarter. Harbour Investments Inc. now owns 2,101 shares of the company’s stock worth $420,000 after purchasing an additional 1,391 shares during the period. Comerica Bank bought a new position in Hershey in the 3rd quarter worth $10,288,000. Finally, Graham Capital Management L.P. bought a new position in Hershey in the 3rd quarter worth $957,000. 57.96% of the stock is owned by institutional investors.

Hershey Price Performance

Shares of Hershey stock traded up $1.11 during trading on Thursday, reaching $186.79. 1,818,552 shares of the stock traded hands, compared to its average volume of 1,867,457. The company has a market capitalization of $37.77 billion, a price-to-earnings ratio of 18.51, a P/E/G ratio of 4.14 and a beta of 0.36. The Hershey Company has a 52-week low of $178.82 and a 52-week high of $248.93. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.97 and a quick ratio of 0.64. The business has a fifty day simple moving average of $193.37 and a two-hundred day simple moving average of $192.25.

Hershey (NYSE:HSY) last released its quarterly earnings results on Friday, May 3rd. The company reported $3.07 EPS for the quarter, topping the consensus estimate of $2.74 by $0.33. The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.11 billion. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The firm’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $2.96 earnings per share. Sell-side analysts expect that The Hershey Company will post 9.59 EPS for the current year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 17th were given a $1.37 dividend. The ex-dividend date was Thursday, May 16th. This represents a $5.48 annualized dividend and a yield of 2.93%. Hershey’s dividend payout ratio is currently 54.31%.

Wall Street Analysts Forecast Growth

HSY has been the topic of a number of recent research reports. Argus decreased their target price on Hershey from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Piper Sandler reiterated a “neutral” rating and issued a $179.00 price target on shares of Hershey in a research note on Friday, June 21st. Barclays cut their price target on Hershey from $210.00 to $204.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 18th. Bank of America cut their price target on Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $213.00 price target on shares of Hershey in a research note on Friday, March 15th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $209.67.

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $182.93, for a total value of $274,395.00. Following the completion of the transaction, the chief financial officer now owns 35,728 shares in the company, valued at $6,535,723.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders sold 4,500 shares of company stock worth $859,950. Corporate insiders own 0.29% of the company’s stock.

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.