Frank Rimerman Advisors LLC Trims Holdings in The Hershey Company (NYSE:HSY)

Frank Rimerman Advisors LLC lessened its holdings in shares of The Hershey Company (NYSE:HSY) by 7.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,872 shares of the company’s stock after selling 145 shares during the period. Frank Rimerman Advisors LLC’s holdings in Hershey were worth $359,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. GHP Investment Advisors Inc. grew its holdings in shares of Hershey by 55.0% during the 2nd 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 period. Burns J W & Co. Inc. NY grew its holdings in shares of Hershey by 0.8% during the 3rd quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock worth $1,411,000 after acquiring an additional 58 shares during the period. Wesbanco Bank Inc. grew its holdings in shares of Hershey by 3.7% during the 2nd 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 period. Brighton Jones LLC grew its holdings in shares of Hershey by 2.3% during the 2nd 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 period. Finally, Rehmann Capital Advisory Group grew its holdings in shares of Hershey by 5.4% during the 1st quarter. Rehmann Capital Advisory Group now owns 1,165 shares of the company’s stock worth $227,000 after acquiring an additional 60 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

Shares of HSY opened at $182.88 on Tuesday. The firm has a market cap of $36.98 billion, a PE ratio of 18.12, a P/E/G ratio of 4.22 and a beta of 0.37. 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 firm has a fifty day simple moving average of $192.22 and a two-hundred day simple moving average of $192.67. The Hershey Company has a 1-year low of $178.82 and a 1-year high of $211.92.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. Hershey’s quarterly revenue was down 16.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.01 earnings per share. On average, equities analysts anticipate that The Hershey Company will post 9.45 EPS for the current year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were paid a dividend of $1.37 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $5.48 dividend on an annualized basis and a yield of 3.00%. Hershey’s dividend payout ratio is presently 54.31%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. UBS Group downgraded Hershey from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $226.00 to $209.00 in a report on Monday, October 7th. Argus cut Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Barclays dropped their price target on Hershey from $204.00 to $202.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 24th. Bank of America dropped their price target on Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Finally, Jefferies Financial Group cut Hershey from a “hold” rating to an “underperform” rating and dropped their price target for the stock from $184.00 to $163.00 in a research report on Thursday, September 26th. Five investment analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $191.11.

Insider Buying and Selling at Hershey

In other news, CAO Jennifer Mccalman sold 538 shares of the company’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 completion of the sale, the chief accounting officer now directly owns 3,238 shares in the company, valued at $644,912.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company 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.