Distillate Capital Partners LLC Invests $15.96 Million in The Hershey Company (NYSE:HSY)

Distillate Capital Partners LLC acquired a new position in The Hershey Company (NYSE:HSY) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 86,797 shares of the company’s stock, valued at approximately $15,956,000.

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

Insider Activity at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the stock in a transaction on Monday, August 12th. The shares were 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 in the company, valued at $644,912.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Jennifer Mccalman sold 538 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the sale, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total transaction of $286,245.00. Following the completion of the transaction, the chief financial officer now directly owns 34,228 shares of the company’s stock, valued at approximately $6,531,729.24. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Hershey Trading Down 0.2 %

Hershey stock opened at $195.12 on Tuesday. The business has a 50-day simple moving average of $196.42 and a two-hundred day simple moving average of $194.10. The Hershey Company has a 52-week low of $178.82 and a 52-week high of $211.92. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The company has a market cap of $39.46 billion, a P/E ratio of 19.34, a P/E/G ratio of 5.77 and a beta of 0.37.

Hershey (NYSE:HSY) last released its quarterly 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). Hershey had a net margin of 16.76% and a return on equity of 45.36%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the firm posted $2.01 EPS. The business’s revenue for the quarter was down 16.7% on a year-over-year basis. Analysts predict that The Hershey Company will post 9.5 EPS for the current year.

Hershey Announces Dividend

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

Wall Street Analysts Forecast Growth

HSY has been the subject of several recent analyst reports. Royal Bank of Canada lowered their price objective 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. Citigroup lowered Hershey from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $195.00 to $182.00 in a research report on Tuesday, August 27th. Barclays dropped their price target 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. JPMorgan Chase & Co. raised their target price on shares of Hershey from $183.00 to $188.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company lowered their price objective on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Friday, June 21st. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Hershey currently has an average rating of “Hold” and a consensus target price of $200.72.

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.