Gallacher Capital Management LLC Increases Stock Holdings in The Hershey Company (NYSE:HSY)

Gallacher Capital Management LLC increased its holdings in shares of The Hershey Company (NYSE:HSY) by 33.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,803 shares of the company’s stock after buying an additional 704 shares during the quarter. Gallacher Capital Management LLC’s holdings in Hershey were worth $523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Valley Brook Capital Group Inc. boosted its position in shares of Hershey by 15.5% in the fourth quarter. Valley Brook Capital Group Inc. now owns 3,691 shares of the company’s stock worth $688,000 after acquiring an additional 495 shares during the last quarter. Clearstead Trust LLC raised its stake in Hershey by 5.9% during the fourth quarter. Clearstead Trust LLC now owns 8,445 shares of the company’s stock worth $1,574,000 after purchasing an additional 474 shares during the period. Connecticut Wealth Management LLC boosted its holdings in shares of Hershey by 34.4% in the 4th quarter. Connecticut Wealth Management LLC now owns 1,501 shares of the company’s stock valued at $280,000 after purchasing an additional 384 shares during the last quarter. AJOVista LLC purchased a new stake in shares of Hershey during the 4th quarter valued at $153,000. Finally, Sapient Capital LLC acquired a new stake in shares of Hershey during the 4th quarter worth $507,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Hershey from $185.00 to $193.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $213.00 price objective on shares of Hershey in a research note on Friday, March 15th. Morgan Stanley downgraded shares of Hershey from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $191.00 to $183.00 in a research report on Monday, February 12th. Citigroup reduced their price target on shares of Hershey from $213.00 to $199.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Finally, Wells Fargo & Company decreased their price objective on shares of Hershey from $205.00 to $200.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $212.78.

Hershey Stock Performance

Shares of HSY traded up $2.04 during trading hours on Friday, reaching $197.92. 3,396,043 shares of the company’s stock traded hands, compared to its average volume of 1,711,441. The business’s fifty day simple moving average is $191.93 and its two-hundred day simple moving average is $190.76. The firm has a market capitalization of $40.37 billion, a price-to-earnings ratio of 19.62, a P/E/G ratio of 3.04 and a beta of 0.33. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.97 and a quick ratio of 0.52. The Hershey Company has a twelve month low of $178.82 and a twelve month high of $275.89.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Friday, May 3rd. The company reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $0.33. Hershey had a return on equity of 51.79% and a net margin of 16.67%. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period last year, the company posted $2.96 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. Analysts predict that The Hershey Company will post 9.6 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be given a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Thursday, May 16th. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

Insider Activity

In related news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $185.83, for a total transaction of $278,745.00. Following the completion of the sale, the chief financial officer now directly owns 38,728 shares of the company’s stock, valued at $7,196,824.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

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.