Smith Chas P & Associates PA Cpas Buys 6,476 Shares of The Hershey Company (NYSE:HSY)

by · The Markets Daily

Smith Chas P & Associates PA Cpas lifted its stake in shares of The Hershey Company (NYSE:HSY – Free Report) by 5.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 126,820 shares of the company’s stock after purchasing an additional 6,476 shares during the period. Hershey accounts for 1.4% of Smith Chas P & Associates PA Cpas’ holdings, making the stock its 29th biggest position. Smith Chas P & Associates PA Cpas owned about 0.06% of Hershey worth $24,322,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in HSY. Vanguard Group Inc. grew its position in shares of Hershey by 14.2% in the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock valued at $3,372,965,000 after acquiring an additional 2,158,912 shares during the period. Janus Henderson Group PLC grew its holdings in Hershey by 6.5% during the first quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock worth $289,327,000 after purchasing an additional 90,329 shares during the period. Dimensional Fund Advisors LP increased its position in Hershey by 3.4% during the second 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 last quarter. Envestnet Asset Management Inc. lifted its position in shares of Hershey by 23.2% in the second quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock valued at $143,962,000 after buying an additional 147,215 shares during the last quarter. Finally, Confluence Investment Management LLC boosted its stake in shares of Hershey by 297.9% during the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after acquiring an additional 537,419 shares during the period. 57.96% of the stock is owned by institutional investors.

Hershey Trading Down 0.8 %

NYSE:HSY opened at $185.98 on Monday. The Hershey Company has a 52 week low of $178.82 and a 52 week high of $211.92. The firm’s fifty day moving average is $195.48 and its 200-day moving average is $193.52. The firm has a market cap of $37.61 billion, a P/E ratio of 18.43, a P/E/G ratio of 5.44 and a beta of 0.37. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.48 and a current ratio of 0.86.

Hershey (NYSE:HSY – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share (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 business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period in the prior year, the firm earned $2.01 earnings per share. The firm’s revenue for the quarter was down 16.7% compared to the same quarter last year. Equities analysts expect that The Hershey Company will post 9.47 earnings per share for the current year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were paid a $1.37 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $5.48 annualized dividend and a dividend yield of 2.95%. Hershey’s dividend payout ratio is currently 54.31%.

Insider Activity at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction 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 completion of the sale, the chief financial officer now owns 34,228 shares of the company’s stock, valued at approximately $6,531,729.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Jennifer Mccalman sold 538 shares of the company’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 transaction, the chief accounting officer now owns 3,238 shares in the company, valued at approximately $644,912.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on HSY shares. Piper Sandler reaffirmed a “neutral” rating and set a $179.00 price objective on shares of Hershey in a research report on Friday, June 21st. Argus cut shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. UBS Group cut Hershey from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $226.00 to $209.00 in a report on Monday, October 7th. The Goldman Sachs Group initiated coverage on Hershey in a research note on Monday, August 12th. They set a “sell” rating and a $185.00 target price on the stock. Finally, Jefferies Financial Group lowered Hershey from a “hold” rating to an “underperform” rating and decreased their price objective for the company from $184.00 to $163.00 in a report on Thursday, September 26th. Four equities research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $195.68.

View Our Latest Stock Report on HSY

About Hershey

(Free Report)

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.

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