Candriam S.C.A. Cuts Stake in The Hershey Company (NYSE:HSY)

Candriam S.C.A. trimmed its stake in The Hershey Company (NYSE:HSY) by 5.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,472 shares of the company’s stock after selling 688 shares during the quarter. Candriam S.C.A.’s holdings in Hershey were worth $2,109,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of HSY. Principal Securities Inc. acquired a new stake in shares of Hershey during the 4th quarter worth $390,000. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Hershey by 10.4% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,976 shares of the company’s stock worth $368,000 after purchasing an additional 186 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Hershey by 1.6% in the 4th quarter. QRG Capital Management Inc. now owns 6,759 shares of the company’s stock valued at $1,260,000 after purchasing an additional 104 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Hershey by 9.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 730,292 shares of the company’s stock worth $136,142,000 after purchasing an additional 64,238 shares during the period. Finally, Checchi Capital Advisers LLC increased its position in Hershey by 4.8% during the 4th quarter. Checchi Capital Advisers LLC now owns 1,342 shares of the company’s stock worth $250,000 after purchasing an additional 61 shares in the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Price Performance

Shares of NYSE:HSY opened at $202.83 on Wednesday. The company has a market cap of $41.03 billion, a PE ratio of 20.10, a P/E/G ratio of 5.80 and a beta of 0.37. The Hershey Company has a fifty-two week low of $178.82 and a fifty-two week high of $213.85. The firm has a 50-day simple moving average of $194.18 and a 200 day simple moving average of $193.49. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87.

Hershey (NYSE:HSY) last posted 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 company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period last year, the company posted $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, sell-side analysts anticipate that The Hershey Company will post 9.5 EPS for the current year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Friday, August 16th. Hershey’s dividend payout ratio (DPR) is 54.31%.

Analysts Set New Price Targets

A number of brokerages have weighed in on HSY. The Goldman Sachs Group started coverage on shares of Hershey in a research report on Monday, August 12th. They set a “sell” rating and a $185.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday. Barclays reduced their price objective on Hershey from $210.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 18th. Wells Fargo & Company decreased their target price on Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Friday, June 21st. Finally, Sanford C. Bernstein dropped their target price on Hershey from $237.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Hershey presently has an average rating of “Hold” and a consensus target price of $203.21.

Insider Transactions at Hershey

In related news, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $199.17, for a total value 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Hershey news, 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 completion of the transaction, the chief accounting officer now owns 3,238 shares in the company, valued at approximately $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 directly owns 35,728 shares of the company’s stock, valued at approximately $6,535,723.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,538 shares of company stock worth $667,793. 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.