Frank Rimerman Advisors LLC Makes New $371,000 Investment in The Hershey Company (NYSE:HSY)

Frank Rimerman Advisors LLC purchased a new stake in shares of The Hershey Company (NYSE:HSY) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 2,017 shares of the company’s stock, valued at approximately $371,000.

A number of other hedge funds have also recently modified their holdings of HSY. Capital Advisors Ltd. LLC boosted its holdings in Hershey by 218.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Riverview Trust Co acquired a new position in Hershey in the first quarter valued at approximately $29,000. GHP Investment Advisors Inc. grew its position in Hershey by 55.0% in the second 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. OFI Invest Asset Management acquired a new stake in Hershey during the second quarter worth $29,000. Finally, Crewe Advisors LLC purchased a new stake in Hershey in the first quarter valued at $35,000. Hedge funds and other 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 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 transaction, the chief accounting officer now owns 3,238 shares in the company, valued at $644,912.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction that occurred 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 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 firm’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 transaction of $286,245.00. Following the transaction, the chief financial officer now owns 34,228 shares in the company, valued at $6,531,729.24. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on HSY shares. Wells Fargo & Company cut their price objective on Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Friday, June 21st. The Goldman Sachs Group started coverage on shares of Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price target on the stock. 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 report on Friday, August 2nd. Barclays cut their target price on Hershey from $204.00 to $202.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Finally, Piper Sandler restated a “neutral” rating and set a $179.00 price target on shares of Hershey in a research report on Friday, June 21st. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $200.61.

Hershey Stock Performance

Shares of Hershey stock opened at $193.34 on Wednesday. The business has a 50-day simple moving average of $196.49 and a 200-day simple moving average of $194.09. 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 Hershey Company has a one year low of $178.82 and a one year high of $211.92. The company has a market cap of $39.10 billion, a PE ratio of 19.16, a P/E/G ratio of 5.77 and a beta of 0.37.

Hershey (NYSE:HSY) last posted its quarterly 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). Hershey had a net margin of 16.76% and a return on equity of 45.36%. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the prior year, the business earned $2.01 earnings per share. The firm’s quarterly revenue was down 16.7% on a year-over-year basis. On average, equities research analysts forecast that The Hershey Company will post 9.5 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Friday, August 16th. Hershey’s payout ratio is 54.31%.

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.