The Hershey Company (NYSE:HSY) Position Decreased by DRH Investments Inc.

DRH Investments Inc. lowered its position in The Hershey Company (NYSE:HSY) by 4.9% during the second quarter, Holdings Channel.com reports. The institutional investor owned 54,151 shares of the company’s stock after selling 2,807 shares during the period. Hershey accounts for approximately 10.8% of DRH Investments Inc.’s portfolio, making the stock its 6th biggest position. DRH Investments Inc.’s holdings in Hershey were worth $9,955,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of HSY. Vanguard Group Inc. boosted its holdings in shares of Hershey by 14.2% in the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock valued at $3,372,965,000 after acquiring an additional 2,158,912 shares during the last quarter. Janus Henderson Group PLC lifted its position in Hershey by 6.5% during the first quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock valued at $289,327,000 after purchasing an additional 90,329 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Hershey by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock valued at $144,743,000 after purchasing an additional 25,780 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Hershey by 23.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock worth $143,962,000 after purchasing an additional 147,215 shares during the period. Finally, Vontobel Asset Management Inc. raised its stake in shares of Hershey by 16.8% during the 4th quarter. Vontobel Asset Management Inc. now owns 781,967 shares of the company’s stock valued at $151,715,000 after buying an additional 112,304 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Price Performance

Shares of Hershey stock opened at $195.23 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48. The Hershey Company has a 12 month low of $178.82 and a 12 month high of $211.92. The stock has a market capitalization of $39.48 billion, a P/E ratio of 19.35, a PEG ratio of 5.77 and a beta of 0.37. The business has a 50 day simple moving average of $196.30 and a two-hundred day simple moving average of $194.03.

Hershey (NYSE:HSY) last announced its earnings results 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). The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. The company’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same period last year, the firm earned $2.01 EPS. As a group, analysts predict that The Hershey Company will post 9.5 EPS for the current fiscal year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were paid a dividend of $1.37 per share. The ex-dividend date was Friday, August 16th. This represents a $5.48 annualized dividend and a yield of 2.81%. Hershey’s dividend payout ratio is presently 54.31%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on HSY shares. Barclays lowered their target price on Hershey from $210.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Royal Bank of Canada decreased their target price on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Piper Sandler reissued a “neutral” rating and set a $179.00 price target on shares of Hershey in a report on Friday, June 21st. Finally, 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 report on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Hershey has an average rating of “Hold” and a consensus target price of $203.21.

Insider Buying and Selling at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the company’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 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 $6,531,729.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Hershey news, 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 transaction of $286,245.00. Following the transaction, the chief financial officer now owns 34,228 shares of the company’s stock, valued at $6,531,729.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jennifer Mccalman sold 538 shares of the company’s stock in a transaction on Monday, August 12th. The shares were 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 owns 3,238 shares of the company’s stock, valued at $644,912.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,538 shares of company stock worth $667,793. Insiders own 0.34% of the company’s stock.

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.