RKL Wealth Management LLC Has $1.17 Million Stock Position in The Hershey Company (NYSE:HSY)

RKL Wealth Management LLC reduced its holdings in shares of The Hershey Company (NYSE:HSY) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,877 shares of the company’s stock after selling 317 shares during the quarter. RKL Wealth Management LLC’s holdings in Hershey were worth $1,165,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new position in shares of Hershey during the third quarter valued at about $25,000. Grove Bank & Trust grew its holdings in shares of Hershey by 248.0% during the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock valued at $29,000 after buying an additional 124 shares during the last quarter. Vision Financial Markets LLC acquired a new position in shares of Hershey during the fourth quarter valued at about $29,000. ST Germain D J Co. Inc. boosted its holdings in Hershey by 61.7% during the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock worth $44,000 after purchasing an additional 100 shares during the last quarter. Finally, Peterson Financial Group Inc. purchased a new position in Hershey during the third quarter worth about $46,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Stock Performance

NYSE HSY opened at $185.11 on Friday. The company’s 50 day moving average is $161.48 and its 200-day moving average is $176.69. The Hershey Company has a 12-month low of $140.13 and a 12-month high of $211.92. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. The firm has a market cap of $37.47 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. Sell-side analysts predict that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 17th will be given a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Friday, February 14th. Hershey’s dividend payout ratio (DPR) is currently 50.28%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. DA Davidson cut their price target on shares of Hershey from $164.00 to $149.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Jefferies Financial Group cut their price target on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a report on Tuesday, January 21st. Piper Sandler cut shares of Hershey from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $153.00 to $120.00 in a report on Friday, January 31st. UBS Group cut their price target on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. cut their price target on shares of Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Five equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $164.15.

Insider Activity

In related news, CAO Jennifer Mccalman sold 278 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total transaction of $41,144.00. Following the sale, the chief accounting officer now owns 2,682 shares of the company’s stock, valued at approximately $396,936. This represents a 9.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.34% 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.