Vontobel Holding Ltd. Cuts Position in The Hershey Company (NYSE:HSY)

Vontobel Holding Ltd. decreased its position in shares of The Hershey Company (NYSE:HSY) by 37.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,426 shares of the company’s stock after selling 16,110 shares during the period. Vontobel Holding Ltd.’s holdings in Hershey were worth $5,068,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. GHP Investment Advisors Inc. lifted its position in Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after buying an additional 55 shares during the last quarter. Sound Income Strategies LLC boosted its stake in shares of Hershey by 13.3% in the 1st quarter. Sound Income Strategies LLC now owns 486 shares of the company’s stock valued at $95,000 after purchasing an additional 57 shares in the last quarter. Burns J W & Co. Inc. NY grew its holdings in shares of Hershey by 0.8% during the 3rd quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock valued at $1,411,000 after purchasing an additional 58 shares during the last quarter. Wesbanco Bank Inc. raised its position in Hershey by 3.7% in the 2nd quarter. Wesbanco Bank Inc. now owns 1,673 shares of the company’s stock worth $308,000 after purchasing an additional 59 shares during the period. Finally, Brighton Jones LLC lifted its stake in Hershey by 2.3% in the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after purchasing an additional 59 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Insider Transactions at Hershey

In related 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 value of $107,153.46. Following the transaction, the chief accounting officer now owns 3,238 shares in the company, valued at $644,912.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Hershey news, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction dated 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 directly owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction of $286,245.00. Following the sale, the chief financial officer now owns 34,228 shares in the company, valued at approximately $6,531,729.24. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Hershey Stock Performance

Shares of Hershey stock opened at $183.90 on Friday. The business has a fifty day simple moving average of $194.32 and a two-hundred day simple moving average of $193.26. The firm has a market capitalization of $37.19 billion, a P/E ratio of 18.23, a P/E/G ratio of 5.44 and a beta of 0.37. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87. The Hershey Company has a 12 month low of $178.82 and a 12 month high of $211.92.

Hershey (NYSE:HSY) last posted its quarterly earnings data 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 return on equity of 45.36% and a net margin of 16.76%. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the previous year, the firm earned $2.01 EPS. The company’s revenue was down 16.7% on a year-over-year basis. On average, equities analysts forecast that The Hershey Company will post 9.47 earnings per share for the current fiscal year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 2.98%. The ex-dividend date was Friday, August 16th. Hershey’s dividend payout ratio (DPR) is 54.31%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HSY. Piper Sandler reissued a “neutral” rating and issued a $179.00 target price on shares of Hershey in a research note on Friday, June 21st. Barclays cut their target price on shares of Hershey from $204.00 to $202.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 24th. Sanford C. Bernstein lowered shares of Hershey from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $230.00 to $205.00 in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Finally, Jefferies Financial Group downgraded shares of Hershey from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $184.00 to $163.00 in a research note on Thursday, September 26th. Four analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $195.00.

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.