Public Sector Pension Investment Board Increases Stock Holdings in The Hershey Company (NYSE:HSY)

Public Sector Pension Investment Board raised its stake in The Hershey Company (NYSE:HSY) by 64.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,470 shares of the company’s stock after purchasing an additional 2,140 shares during the quarter. Public Sector Pension Investment Board’s holdings in Hershey were worth $1,006,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Advisors Ltd. LLC grew its stake in shares of Hershey by 218.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. GHP Investment Advisors Inc. grew its stake in shares of Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of Hershey in the 1st quarter valued at approximately $29,000. OFI Invest Asset Management acquired a new stake in shares of Hershey in the 2nd quarter valued at approximately $29,000. Finally, Quarry LP acquired a new stake in shares of Hershey in the 4th quarter valued at approximately $34,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Hershey from $183.00 to $188.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Barclays reduced their price target on Hershey from $204.00 to $202.00 and set an “equal weight” rating for the company in a report on Tuesday, September 24th. Piper Sandler reissued a “neutral” rating and issued a $179.00 price target on shares of Hershey in a report on Friday, June 21st. The Goldman Sachs Group initiated coverage on Hershey in a report on Monday, August 12th. They issued a “sell” rating and a $185.00 price target for the company. Finally, Royal Bank of Canada reduced their price objective on Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $198.63.

Insider Buying and Selling at Hershey

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total transaction of $286,245.00. Following the transaction, the chief financial officer now owns 34,228 shares in the company, valued at $6,531,729.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total transaction of $286,245.00. Following the transaction, the chief financial officer now owns 34,228 shares in the company, valued at $6,531,729.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Jennifer Mccalman sold 538 shares of the business’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 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. 0.34% of the stock is owned by company insiders.

Hershey Price Performance

HSY stock opened at $193.41 on Thursday. The stock has a 50-day moving average price of $196.49 and a two-hundred day moving average price of $193.94. The Hershey Company has a 12-month low of $178.82 and a 12-month high of $211.92. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87. The company has a market cap of $39.11 billion, a PE ratio of 19.17, a price-to-earnings-growth ratio of 5.67 and a beta of 0.37.

Hershey (NYSE:HSY) last posted its quarterly earnings results 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 firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period last year, the firm posted $2.01 EPS. Hershey’s revenue was down 16.7% on a year-over-year basis. As a group, research analysts predict that The Hershey Company will post 9.49 EPS for the current year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Friday, August 16th. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

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.