Wesbanco Bank Inc. Has $489,000 Stock Holdings in The Hershey Company (NYSE:HSY)

Wesbanco Bank Inc. lifted its stake in The Hershey Company (NYSE:HSY) by 52.4% during the third quarter, Holdings Channel.com reports. The fund owned 2,550 shares of the company’s stock after buying an additional 877 shares during the period. Wesbanco Bank Inc.’s holdings in Hershey were worth $489,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. LPL Financial LLC increased its position in shares of Hershey by 10.0% during the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock worth $58,951,000 after purchasing an additional 29,246 shares during the last quarter. CreativeOne Wealth LLC raised its position in Hershey by 179.4% during the first quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock worth $1,353,000 after acquiring an additional 4,468 shares in the last quarter. Oak Harvest Investment Services acquired a new stake in Hershey in the first quarter valued at $5,383,000. Signet Financial Management LLC grew its position in shares of Hershey by 59.9% in the 1st quarter. Signet Financial Management LLC now owns 12,960 shares of the company’s stock valued at $2,521,000 after acquiring an additional 4,854 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Hershey by 119.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,766 shares of the company’s stock worth $19,633,000 after purchasing an additional 50,014 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Performance

HSY opened at $184.81 on Thursday. The firm has a market cap of $37.37 billion, a P/E ratio of 18.32, a price-to-earnings-growth ratio of 5.44 and a beta of 0.37. The business’s fifty day moving average is $194.68 and its 200-day moving average is $193.33. The Hershey Company has a 52-week low of $178.82 and a 52-week high of $211.92. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.48 and a current ratio of 0.86.

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

Hershey Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on HSY shares. The Goldman Sachs Group initiated coverage on Hershey in a report on Monday, August 12th. They set a “sell” rating and a $185.00 price target for the company. Deutsche Bank Aktiengesellschaft boosted their target price on Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Wells Fargo & Company reduced their price objective on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Friday, June 21st. Piper Sandler reissued a “neutral” rating and issued a $179.00 price objective on shares of Hershey in a research report on Friday, June 21st. Finally, Argus downgraded shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Four research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $195.00.

Insider Activity

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

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.