The Hershey Company (NYSE:HSY) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. lessened its stake in shares of The Hershey Company (NYSE:HSY) by 2.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 9,257 shares of the company’s stock after selling 201 shares during the period. Hartford Investment Management Co.’s holdings in Hershey were worth $1,775,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Hershey by 14.2% during the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock valued at $3,372,965,000 after purchasing an additional 2,158,912 shares during the last quarter. Confluence Investment Management LLC raised its holdings in Hershey by 297.9% during the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after buying an additional 537,419 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in Hershey during the second quarter valued at about $82,123,000. Bryn Mawr Capital Management LLC boosted its holdings in shares of Hershey by 3,404.3% in the first quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock worth $49,879,000 after buying an additional 249,129 shares during the period. Finally, Mercer Global Advisors Inc. ADV increased its position in shares of Hershey by 1,194.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock worth $45,837,000 after acquiring an additional 230,077 shares in the last quarter. 57.96% of the stock is owned by institutional investors.

Insider Activity

In related news, 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 transaction of $107,153.46. Following the completion of the transaction, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Hershey Stock Up 0.1 %

Shares of HSY stock opened at $182.20 on Friday. The stock’s 50 day simple moving average is $193.04 and its 200 day simple moving average is $192.88. The Hershey Company has a twelve month low of $178.82 and a twelve month high of $211.92. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.48 and a current ratio of 0.86. The company has a market capitalization of $36.85 billion, a price-to-earnings ratio of 18.06, a PEG ratio of 5.44 and a beta of 0.37.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. The company’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.01 EPS. As a group, research analysts predict that The Hershey Company will post 9.47 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 issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Friday, August 16th. Hershey’s dividend payout ratio (DPR) is 54.31%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on HSY shares. Piper Sandler reduced their price target on shares of Hershey from $179.00 to $165.00 and set a “neutral” rating for the company in a research report on Wednesday. The Goldman Sachs Group started coverage on Hershey in a report on Monday, August 12th. They issued a “sell” rating and a $185.00 target price for the company. Redburn Atlantic began coverage on Hershey in a research report on Tuesday. They issued a “sell” rating and a $165.00 target price for the company. Sanford C. Bernstein lowered Hershey from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $230.00 to $205.00 in a research report on Monday, October 7th. Finally, UBS Group downgraded Hershey from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $226.00 to $209.00 in a research note on Monday, October 7th. Five investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company’s stock. Based on data from MarketBeat, Hershey currently has an average rating of “Hold” and an average target price of $192.80.

Hershey 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.