D.A. Davidson & CO. Acquires 9,663 Shares of The Hershey Company (NYSE:HSY)

D.A. Davidson & CO. increased its holdings in shares of The Hershey Company (NYSE:HSY) by 53.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 27,906 shares of the company’s stock after acquiring an additional 9,663 shares during the quarter. D.A. Davidson & CO.’s holdings in Hershey were worth $5,130,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of HSY. Vanguard Group Inc. raised its position in shares of Hershey by 14.2% in the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock valued at $3,372,965,000 after buying an additional 2,158,912 shares in the last quarter. Norges Bank acquired a new position in Hershey in the 4th quarter valued at $349,448,000. Confluence Investment Management LLC lifted its position in shares of Hershey by 297.9% during the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after acquiring an additional 537,419 shares during the period. Bryn Mawr Capital Management LLC grew its holdings in shares of Hershey by 3,404.3% during the 1st quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock worth $49,879,000 after purchasing an additional 249,129 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Hershey by 98.4% in the first quarter. Principal Financial Group Inc. now owns 419,947 shares of the company’s stock worth $81,680,000 after purchasing an additional 208,293 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on HSY shares. Piper Sandler reaffirmed a “neutral” rating and set a $179.00 price objective on shares of Hershey in a research report on Friday, June 21st. Barclays reduced their price target on shares of Hershey from $210.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 18th. Argus downgraded shares of Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. The Goldman Sachs Group began coverage on Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price objective on the stock. Finally, JPMorgan Chase & Co. increased their target price on Hershey from $183.00 to $188.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $202.79.

Insider Transactions at Hershey

In related news, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the transaction, the chief accounting officer now owns 3,238 shares in the company, valued at approximately $644,912.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at $644,912.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $182.93, for a total value of $274,395.00. Following the completion of the transaction, the chief financial officer now owns 35,728 shares in the company, valued at $6,535,723.04. The disclosure for this sale can be found here. Insiders sold a total of 3,538 shares of company stock valued at $667,793 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Hershey Price Performance

HSY stock opened at $193.06 on Tuesday. 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 firm has a market cap of $39.04 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 5.60 and a beta of 0.36. The company’s fifty day simple moving average is $192.25 and its 200 day simple moving average is $193.18. The Hershey Company has a 12-month low of $178.82 and a 12-month high of $219.92.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). Hershey had a net margin of 16.76% and a return on equity of 45.36%. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period in the prior year, the firm earned $2.01 earnings per share. The firm’s revenue for the quarter was down 16.7% compared to the same quarter last year. On average, analysts expect that The Hershey Company will post 9.5 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Friday, August 16th. Hershey’s payout ratio is 54.31%.

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.