The Hershey Company (NYSE:HSY) Shares Sold by Ascent Group LLC

Ascent Group LLC lowered its position in The Hershey Company (NYSE:HSY) by 63.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,365 shares of the company’s stock after selling 2,399 shares during the period. Ascent Group LLC’s holdings in Hershey were worth $265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings 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 worth $3,372,965,000 after purchasing an additional 2,158,912 shares during the last quarter. Norges Bank purchased a new stake in shares of Hershey in the fourth quarter worth about $349,448,000. Vontobel Asset Management Inc. grew its holdings in Hershey by 16.8% during the fourth quarter. Vontobel Asset Management Inc. now owns 781,967 shares of the company’s stock worth $151,715,000 after acquiring an additional 112,304 shares during the period. Charles Schwab Investment Management Inc. raised its position in Hershey by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 777,761 shares of the company’s stock valued at $145,006,000 after acquiring an additional 19,018 shares in the last quarter. Finally, Stifel Financial Corp lifted its holdings in Hershey by 13.6% in the fourth quarter. Stifel Financial Corp now owns 748,194 shares of the company’s stock valued at $139,503,000 after acquiring an additional 89,586 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Trading Down 0.5 %

Shares of NYSE HSY traded down $0.97 during mid-day trading on Monday, reaching $192.56. 2,097,576 shares of the company’s stock were exchanged, compared to its average volume of 1,852,161. The company’s 50-day moving average is $190.27 and its 200-day moving average is $192.56. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.64 and a current ratio of 0.97. The firm has a market capitalization of $38.94 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 4.81 and a beta of 0.36. The Hershey Company has a 52-week low of $178.82 and a 52-week high of $235.80.

Hershey (NYSE:HSY) last announced its earnings results on Friday, May 3rd. The company reported $3.07 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.33. The company had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.11 billion. Hershey had a net margin of 18.13% and a return on equity of 50.15%. Hershey’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.96 earnings per share. Analysts expect that The Hershey Company will post 9.58 EPS for the current fiscal year.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 17th were paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 2.85%. The ex-dividend date was Thursday, May 16th. Hershey’s payout ratio is 54.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on HSY shares. Edward Jones reaffirmed a “hold” rating on shares of Hershey in a research note on Friday, April 19th. Piper Sandler restated a “neutral” rating and set a $179.00 target price on shares of Hershey in a research report on Friday, June 21st. Deutsche Bank Aktiengesellschaft reduced their price target on Hershey from $197.00 to $192.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Barclays dropped their price objective on Hershey from $210.00 to $204.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 18th. Finally, 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. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Hershey currently has a consensus rating of “Hold” and an average price target of $204.89.

Insider Activity at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $182.93, for a total value of $274,395.00. Following the completion of the transaction, the chief financial officer now owns 35,728 shares in the company, valued at $6,535,723.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 4,500 shares of company stock worth $867,450 in the last three months. 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.