Wesbanco Bank Inc. Purchases 877 Shares of The Hershey Company (NYSE:HSY)

Wesbanco Bank Inc. boosted its position in shares of The Hershey Company (NYSE:HSY) by 52.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,550 shares of the company’s stock after purchasing an additional 877 shares during the period. Wesbanco Bank Inc.’s holdings in Hershey were worth $489,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC raised its stake in shares of Hershey by 218.2% in the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. Riverview Trust Co acquired a new stake in Hershey during the 1st quarter valued at $29,000. GHP Investment Advisors Inc. raised its position in Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares during the last quarter. OFI Invest Asset Management acquired a new position in Hershey in the second quarter worth $29,000. Finally, Crewe Advisors LLC bought a new stake in shares of Hershey during the first quarter worth $35,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Trading Up 0.3 %

Shares of NYSE HSY opened at $184.81 on Thursday. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The Hershey Company has a twelve month low of $178.82 and a twelve month high of $211.92. The company’s fifty day moving average is $194.68 and its 200-day moving average is $193.33. The stock has a market cap of $37.37 billion, a price-to-earnings ratio of 18.32, a P/E/G ratio of 5.44 and a beta of 0.37.

Hershey (NYSE:HSY) last posted its earnings results on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.17). Hershey had a return on equity of 45.36% and a net margin of 16.76%. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the firm posted $2.01 earnings per share. The business’s revenue was down 16.7% on a year-over-year basis. Equities research analysts predict that The Hershey Company will post 9.47 EPS for the current year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were issued a dividend of $1.37 per share. The ex-dividend date was Friday, August 16th. This represents a $5.48 annualized dividend and a yield of 2.97%. Hershey’s dividend payout ratio (DPR) is currently 54.31%.

Insider Buying and Selling at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total transaction of $286,245.00. Following the completion of the sale, the chief financial officer now owns 34,228 shares of the company’s stock, valued at $6,531,729.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO Jennifer Mccalman sold 538 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $199.17, for a total transaction of $107,153.46. Following the completion of the transaction, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at $644,912.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total value of $286,245.00. Following the completion of the sale, the chief financial officer now directly owns 34,228 shares in the company, valued at approximately $6,531,729.24. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Piper Sandler reiterated a “neutral” rating and set a $179.00 price target on shares of Hershey in a research report on Friday, June 21st. Jefferies Financial Group cut shares of Hershey from a “hold” rating to an “underperform” rating and decreased their price target for the company from $184.00 to $163.00 in a research note on Thursday, September 26th. JPMorgan Chase & Co. dropped their price objective on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research report on Monday. Citigroup downgraded Hershey from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $195.00 to $182.00 in a report on Tuesday, August 27th. Finally, Barclays lowered their target price on Hershey from $204.00 to $202.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 24th. Four equities research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $195.00.

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.