Wealthspire Advisors LLC Cuts Stock Holdings in The Hershey Company (NYSE:HSY)

Wealthspire Advisors LLC reduced its stake in The Hershey Company (NYSE:HSY) by 1.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,999 shares of the company’s stock after selling 78 shares during the quarter. Wealthspire Advisors LLC’s holdings in Hershey were worth $919,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Capital Advisors Ltd. LLC boosted its holdings in Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after purchasing an additional 96 shares during the last quarter. Riverview Trust Co purchased a new position in shares of Hershey in the 1st quarter worth approximately $29,000. GHP Investment Advisors Inc. grew its holdings in shares of Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after acquiring an additional 55 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of Hershey during the second quarter valued at approximately $29,000. Finally, Crewe Advisors LLC bought a new stake in Hershey during the first quarter worth $35,000. 57.96% of the stock is currently owned by institutional investors.

Hershey Stock Performance

NYSE HSY opened at $200.83 on Monday. The company’s 50 day simple moving average is $195.11 and its two-hundred day simple moving average is $193.74. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48. The Hershey Company has a 1 year low of $178.82 and a 1 year high of $213.85. The stock has a market capitalization of $40.61 billion, a PE ratio of 19.90, a P/E/G ratio of 5.77 and a beta of 0.37.

Hershey (NYSE:HSY) last issued 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 return on equity of 45.36% and a net margin of 16.76%. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter last year, the business posted $2.01 EPS. The company’s quarterly revenue was down 16.7% on a year-over-year basis. Analysts predict that The Hershey Company will post 9.5 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 16th will be paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Friday, August 16th. Hershey’s dividend payout ratio is currently 54.31%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Barclays decreased their target price on Hershey from $210.00 to $204.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 18th. Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $195.00 to $182.00 in a research report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. The Goldman Sachs Group initiated coverage on shares of Hershey in a report on Monday, August 12th. They issued a “sell” rating and a $185.00 price target on the stock. Finally, Sanford C. Bernstein dropped their price objective on Hershey from $237.00 to $230.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $203.21.

Insiders Place Their Bets

In other news, CAO Jennifer Mccalman sold 538 shares of the firm’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 sale, 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 SEC, which is accessible through this link. In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total transaction of $286,245.00. Following the completion of the sale, the chief financial officer now owns 34,228 shares of the company’s stock, valued at approximately $6,531,729.24. The sale was disclosed in a filing 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 dated Monday, August 12th. The shares were 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 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. Corporate insiders own 0.34% of the company’s stock.

Hershey Company Profile

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.