The Hershey Company (NYSE:HSY) Shares Sold by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC decreased its stake in The Hershey Company (NYSE:HSY) by 10.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 121,734 shares of the company’s stock after selling 14,846 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Hershey were worth $22,378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Raleigh Capital Management Inc. raised its position in Hershey by 20.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 316 shares of the company’s stock worth $59,000 after acquiring an additional 54 shares during the last quarter. GHP Investment Advisors Inc. raised its position in Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after acquiring an additional 55 shares during the last quarter. Sound Income Strategies LLC raised its position in Hershey by 13.3% during the first quarter. Sound Income Strategies LLC now owns 486 shares of the company’s stock worth $95,000 after acquiring an additional 57 shares during the last quarter. Wesbanco Bank Inc. raised its position in Hershey by 3.7% during the second quarter. Wesbanco Bank Inc. now owns 1,673 shares of the company’s stock worth $308,000 after acquiring an additional 59 shares during the last quarter. Finally, Brighton Jones LLC raised its position in Hershey by 2.3% during the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after acquiring an additional 59 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Analyst Ratings Changes

HSY has been the subject of a number of analyst reports. Bank of America cut their price objective on shares of Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft boosted their price objective 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. Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and cut their price objective for the company from $195.00 to $182.00 in a research report on Tuesday, August 27th. Royal Bank of Canada cut their price objective on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Finally, Sanford C. Bernstein cut their price objective on shares of Hershey from $237.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Hershey has a consensus rating of “Hold” and an average target price of $198.63.

Hershey Price Performance

HSY stock opened at $193.32 on Friday. 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 Hershey Company has a 52-week low of $178.82 and a 52-week high of $211.92. The stock’s 50 day moving average is $196.37 and its two-hundred day moving average is $194.04. The company has a market capitalization of $39.09 billion, a PE ratio of 19.16, a P/E/G ratio of 5.67 and a beta of 0.37.

Hershey (NYSE:HSY) last posted its quarterly earnings data 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). Hershey had a return on equity of 45.36% and a net margin of 16.76%. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter in the prior year, the firm earned $2.01 earnings per share. Hershey’s revenue for the quarter was down 16.7% compared to the same quarter last year. Analysts predict that The Hershey Company will post 9.49 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were given a $1.37 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $5.48 annualized dividend and a dividend yield of 2.83%. Hershey’s payout ratio is 54.31%.

Insider Activity at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total transaction of $286,245.00. Following the completion of the transaction, the chief financial officer now owns 34,228 shares in the company, valued at approximately $6,531,729.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other 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 value of $107,153.46. Following the sale, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total value of $286,245.00. Following the completion of the sale, the chief financial officer now directly owns 34,228 shares in the company, valued at approximately $6,531,729.24. The disclosure for this sale can be found here. 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.