Scientech Research LLC Has $1.30 Million Stock Holdings in The Hershey Company (NYSE:HSY)

Scientech Research LLC boosted its holdings in shares of The Hershey Company (NYSE:HSY) by 60.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,077 shares of the company’s stock after purchasing an additional 2,671 shares during the quarter. Scientech Research LLC’s holdings in Hershey were worth $1,301,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. LPL Financial LLC boosted its holdings in Hershey by 10.0% in the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock valued at $58,951,000 after purchasing an additional 29,246 shares during the period. CreativeOne Wealth LLC lifted its stake in shares of Hershey by 179.4% in the first quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock valued at $1,353,000 after buying an additional 4,468 shares during the period. Prudential PLC grew its position in Hershey by 21.8% during the fourth quarter. Prudential PLC now owns 100,084 shares of the company’s stock worth $18,660,000 after buying an additional 17,890 shares in the last quarter. Bridgefront Capital LLC acquired a new stake in Hershey during the fourth quarter worth about $972,000. Finally, Oak Harvest Investment Services bought a new position in Hershey during the first quarter valued at about $5,383,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Stock Up 1.5 %

Shares of NYSE HSY opened at $193.32 on Friday. 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 $39.09 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 5.67 and a beta of 0.37. The Hershey Company has a 12-month low of $178.82 and a 12-month high of $211.92. The firm’s 50-day simple moving average is $196.37 and its 200 day simple moving average is $194.04.

Hershey (NYSE:HSY) last released its quarterly 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). 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 last year, the company earned $2.01 earnings per share. Hershey’s revenue for the quarter was down 16.7% compared to the same quarter last year. On average, research analysts expect that The Hershey Company will post 9.49 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Friday, August 16th. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

Insider Activity at Hershey

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on HSY shares. Jefferies Financial Group lowered Hershey from a “hold” rating to an “underperform” rating and decreased their price objective for the stock from $184.00 to $163.00 in a report on Thursday. Piper Sandler reiterated a “neutral” rating and set a $179.00 price target on shares of Hershey in a research note on Friday, June 21st. Wells Fargo & Company reduced 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. Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and lowered their target price for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Finally, Royal Bank of Canada cut their price target 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. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $198.63.

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.