Mengis Capital Management Inc. Raises Stock Position in The Hershey Company (NYSE:HSY)

Mengis Capital Management Inc. increased its holdings in shares of The Hershey Company (NYSE:HSY) by 8.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,395 shares of the company’s stock after purchasing an additional 2,100 shares during the period. Hershey accounts for about 1.0% of Mengis Capital Management Inc.’s holdings, making the stock its 24th biggest holding. Mengis Capital Management Inc.’s holdings in Hershey were worth $5,062,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. lifted its holdings 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 acquiring an additional 55 shares during the last quarter. Burns J W & Co. Inc. NY lifted its stake in Hershey by 0.8% during the third quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock valued at $1,411,000 after purchasing an additional 58 shares during the last quarter. Wesbanco Bank Inc. boosted its holdings in Hershey by 3.7% during the second quarter. Wesbanco Bank Inc. now owns 1,673 shares of the company’s stock worth $308,000 after buying an additional 59 shares in the last quarter. Brighton Jones LLC grew its position in Hershey by 2.3% in the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after buying an additional 59 shares during the last quarter. Finally, Valley Brook Capital Group Inc. increased its holdings in shares of Hershey by 1.5% in the second quarter. Valley Brook Capital Group Inc. now owns 4,067 shares of the company’s stock valued at $748,000 after buying an additional 61 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Stock Performance

HSY opened at $181.50 on Wednesday. The Hershey Company has a 12-month low of $171.67 and a 12-month high of $211.92. The firm has a market capitalization of $36.72 billion, a P/E ratio of 20.91, a price-to-earnings-growth ratio of 4.28 and a beta of 0.38. The stock’s 50 day moving average price is $188.88 and its two-hundred day moving average price is $192.13. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Monday, November 18th. Hershey’s dividend payout ratio (DPR) is currently 63.13%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Piper Sandler raised their price objective on Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Bank of America dropped their price target on Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and cut their price target for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. JPMorgan Chase & Co. lowered their price objective on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Finally, Redburn Atlantic initiated coverage on Hershey in a research report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to data from MarketBeat.com, Hershey presently has a consensus rating of “Hold” and a consensus price target of $189.33.

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.