AMI Investment Management Inc. Acquires 160 Shares of The Hershey Company (NYSE:HSY)

AMI Investment Management Inc. increased its stake in shares of The Hershey Company (NYSE:HSY) by 1.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,717 shares of the company’s stock after buying an additional 160 shares during the period. AMI Investment Management Inc.’s holdings in Hershey were worth $2,055,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Hershey by 14.2% during the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock valued at $3,372,965,000 after purchasing an additional 2,158,912 shares during the last quarter. Janus Henderson Group PLC lifted its position in Hershey by 6.5% during the 1st 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 grew its position in shares of Hershey by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock worth $144,743,000 after buying an additional 25,780 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Hershey by 23.2% during the second quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock worth $143,962,000 after buying an additional 147,215 shares during the last quarter. Finally, Vontobel Asset Management Inc. lifted its holdings in Hershey by 16.8% in the fourth 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 period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Stock Up 0.4 %

Hershey stock traded up $0.79 during midday trading on Friday, reaching $191.78. The stock had a trading volume of 794,164 shares, compared to its average volume of 1,714,381. The stock has a market capitalization of $38.78 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 5.67 and a beta of 0.37. The firm’s fifty day simple moving average is $196.46 and its 200-day simple moving average is $193.92. 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 1-year low of $178.82 and a 1-year high of $211.92.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.27 earnings per share 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 the consensus estimate of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. Hershey’s revenue was down 16.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.01 earnings per share. As a group, analysts expect that The Hershey Company will post 9.49 EPS for the current fiscal year.

Hershey Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend was Friday, August 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.86%. Hershey’s dividend payout ratio is 54.31%.

Analysts Set New Price Targets

A number of research firms have commented on HSY. Barclays lowered their target price on shares of Hershey from $204.00 to $202.00 and set an “equal weight” rating for the company in a report on Tuesday, September 24th. Jefferies Financial Group downgraded Hershey from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $184.00 to $163.00 in a report on Thursday, September 26th. Royal Bank of Canada reduced their target price on Hershey from $209.00 to $205.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. The Goldman Sachs Group initiated coverage on Hershey in a research report on Monday, August 12th. They set a “sell” rating and a $185.00 target price for the company. Finally, Bank of America cut their price target on shares of Hershey from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Four equities research 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $198.63.

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 stock was 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 directly owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, 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 transaction of $286,245.00. Following the transaction, the chief financial officer now directly owns 34,228 shares in the company, valued at $6,531,729.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jennifer Mccalman sold 538 shares of the firm’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 completion of the sale, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at $644,912.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

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.