Sequoia Financial Advisors LLC trimmed its stake in shares of The Hershey Company (NYSE:HSY – Free Report) by 30.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,737 shares of the company’s stock after selling 2,064 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Hershey were worth $871,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently modified their holdings of the stock. Mutual of America Capital Management LLC raised its stake in Hershey by 2.2% during the fourth quarter. Mutual of America Capital Management LLC now owns 24,105 shares of the company’s stock worth $4,494,000 after acquiring an additional 529 shares in the last quarter. Cerity Partners LLC boosted its position in Hershey by 64.3% in the fourth quarter. Cerity Partners LLC now owns 21,086 shares of the company’s stock valued at $3,931,000 after buying an additional 8,249 shares in the last quarter. Koshinski Asset Management Inc. boosted its position in Hershey by 14.7% in the fourth quarter. Koshinski Asset Management Inc. now owns 2,027 shares of the company’s stock valued at $378,000 after buying an additional 260 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Hershey during the fourth quarter worth about $1,697,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Hershey by 0.5% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 458,897 shares of the company’s stock worth $85,557,000 after buying an additional 2,223 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors.
Insider Activity
In related news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $182.93, for a total transaction of $274,395.00. Following the completion of the transaction, the chief financial officer now directly owns 35,728 shares in the company, valued at approximately $6,535,723.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $182.93, for a total transaction of $274,395.00. Following the sale, the chief financial officer now owns 35,728 shares in the company, valued at approximately $6,535,723.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value 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 approximately $644,912.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,038 shares of company stock worth $974,603. Corporate insiders own 0.34% of the company’s stock.
Hershey Price Performance
NYSE:HSY opened at $199.46 on Wednesday. The Hershey Company has a 12-month low of $178.82 and a 12-month high of $224.80. The firm has a market capitalization of $40.34 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 4.96 and a beta of 0.36. The stock’s 50 day moving average price is $190.27 and its two-hundred day moving average price is $193.20. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.87.
Hershey (NYSE:HSY – Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.17). The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. The company’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.01 EPS. On average, analysts anticipate that The Hershey Company will post 9.59 earnings per share for the current year.
Hershey Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be issued a $1.37 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.75%. Hershey’s dividend payout ratio (DPR) is currently 54.31%.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on HSY shares. The Goldman Sachs Group started coverage on Hershey in a report on Monday. They issued a “sell” rating and a $185.00 target price on the stock. Royal Bank of Canada reduced their price objective on Hershey from $209.00 to $205.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Sanford C. Bernstein decreased their price objective on shares of Hershey from $237.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. JPMorgan Chase & Co. boosted their target price on shares of Hershey from $183.00 to $188.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Hershey from $192.00 to $191.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $203.47.
Check Out Our Latest Stock Report on Hershey
Hershey Company Profile
(Free Report)
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.
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