Cim LLC Has $2.03 Million Position in The Hershey Company (NYSE:HSY)

Cim LLC grew its holdings in The Hershey Company (NYSE:HSY) by 6.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,247 shares of the company’s stock after acquiring an additional 655 shares during the period. Cim LLC’s holdings in Hershey were worth $2,030,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of HSY. LPL Financial LLC increased its position in Hershey by 10.0% during the second quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock worth $58,951,000 after buying an additional 29,246 shares during the last quarter. CreativeOne Wealth LLC increased its holdings in shares of 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 acquiring an additional 4,468 shares during the last quarter. Prudential PLC increased its holdings 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 acquiring an additional 17,890 shares during the last quarter. Bridgefront Capital LLC bought a new position in shares of Hershey in the 4th quarter valued at approximately $972,000. Finally, Oak Harvest Investment Services acquired a new stake in Hershey in the 1st quarter worth approximately $5,383,000. Institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

HSY opened at $191.89 on Wednesday. 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 stock has a market capitalization of $38.81 billion, a P/E ratio of 19.02, a price-to-earnings-growth ratio of 5.67 and a beta of 0.37. The company’s 50 day simple moving average is $196.46 and its 200-day simple moving average is $193.94. The Hershey Company has a one year low of $178.82 and a one year high of $211.92.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.27 EPS 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 firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the previous year, the business posted $2.01 earnings per share. The firm’s quarterly revenue was down 16.7% on a year-over-year basis. Sell-side analysts anticipate that The Hershey Company will post 9.49 earnings per share for the current fiscal year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, August 16th. Hershey’s dividend payout ratio is 54.31%.

Insider Buying and Selling at Hershey

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

Analyst Ratings Changes

Several brokerages have commented on HSY. Citigroup downgraded Hershey from a “neutral” rating to a “sell” rating and lowered their price target for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Sanford C. Bernstein lowered their price target on Hershey from $237.00 to $230.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. The Goldman Sachs Group assumed coverage on Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price objective on the stock. Finally, Bank of America lowered their price target on Hershey from $210.00 to $200.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $198.63.

About Hershey

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.