The Hershey Company (NYSE:HSY) Shares Acquired by TD Asset Management Inc

TD Asset Management Inc boosted its stake in The Hershey Company (NYSE:HSY) by 0.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 353,374 shares of the company’s stock after buying an additional 1,697 shares during the period. TD Asset Management Inc owned 0.17% of Hershey worth $64,961,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Ironwood Investment Counsel LLC bought a new position in shares of Hershey in the fourth quarter valued at approximately $2,332,000. CreativeOne Wealth LLC boosted its stake in Hershey by 179.4% during the 1st quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock valued at $1,353,000 after purchasing an additional 4,468 shares in the last quarter. Prudential PLC increased its position in shares of Hershey by 21.8% during the 4th quarter. Prudential PLC now owns 100,084 shares of the company’s stock valued at $18,660,000 after purchasing an additional 17,890 shares during the period. Bridgefront Capital LLC bought a new stake in shares of Hershey in the 4th quarter worth $972,000. Finally, Oak Harvest Investment Services acquired a new stake in shares of Hershey in the first quarter valued at $5,383,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Price Performance

Shares of HSY stock opened at $199.85 on Friday. 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 capitalization of $40.42 billion, a P/E ratio of 19.81, a P/E/G ratio of 5.60 and a beta of 0.36. The Hershey Company has a 12 month low of $178.82 and a 12 month high of $213.85. The stock has a 50 day moving average of $193.40 and a two-hundred day moving average of $193.35.

Hershey (NYSE:HSY) last posted its earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.17). The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. Hershey’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.01 EPS. As a group, equities analysts expect that The Hershey Company will post 9.5 EPS for the current year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be given a $1.37 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $5.48 annualized dividend and a yield of 2.74%. Hershey’s payout ratio is 54.31%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on HSY shares. Piper Sandler reaffirmed a “neutral” rating and issued a $179.00 price objective on shares of Hershey in a research note on Friday, June 21st. Barclays reduced their price objective on Hershey from $210.00 to $204.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 18th. Wells Fargo & Company reduced their price objective on Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Friday, June 21st. Bank of America dropped their target price on Hershey from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Argus lowered Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $202.79.

Insider Buying and Selling at Hershey

In other news, CAO Jennifer Mccalman sold 538 shares of Hershey 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 of the company’s stock, valued at approximately $644,912.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the firm’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 transaction, the chief accounting officer now owns 3,238 shares in the company, valued at $644,912.46. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $182.93, for a total transaction of $274,395.00. Following the completion of the sale, the chief financial officer now owns 35,728 shares in the company, valued at $6,535,723.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,538 shares of company stock worth $667,793. 0.34% of the stock is currently owned by insiders.

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.