Benedict Financial Advisors Inc. Has $5.32 Million Holdings in The Hershey Company (NYSE:HSY)

by · The Cerbat Gem

Benedict Financial Advisors Inc. raised its position in shares of The Hershey Company (NYSE:HSY – Free Report) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,721 shares of the company’s stock after acquiring an additional 370 shares during the period. Hershey makes up 1.3% of Benedict Financial Advisors Inc.’s portfolio, making the stock its 27th biggest holding. Benedict Financial Advisors Inc.’s holdings in Hershey were worth $5,316,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. LPL Financial LLC grew its holdings in Hershey by 10.0% in the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock valued at $58,951,000 after buying an additional 29,246 shares during the last quarter. CreativeOne Wealth LLC increased its position in Hershey by 179.4% during the first quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock worth $1,353,000 after acquiring an additional 4,468 shares during the period. Oak Harvest Investment Services acquired a new position in Hershey during the 1st quarter valued at $5,383,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Hershey by 119.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,766 shares of the company’s stock valued at $19,633,000 after purchasing an additional 50,014 shares during the period. Finally, SG Americas Securities LLC grew its position in Hershey by 239.2% in the 1st quarter. SG Americas Securities LLC now owns 22,035 shares of the company’s stock worth $4,286,000 after purchasing an additional 15,538 shares during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Hershey

In related news, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on HSY. Stifel Nicolaus cut their price objective on shares of Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft raised their price objective on Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Citigroup cut Hershey from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $195.00 to $182.00 in a research report on Tuesday, August 27th. Redburn Atlantic initiated coverage on Hershey in a research note on Tuesday. They issued a “sell” rating and a $165.00 target price for the company. Finally, Bank of America decreased their price target on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. Five investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $191.55.

View Our Latest Stock Report on HSY

Hershey Trading Down 0.5 %

Shares of Hershey stock traded down $0.94 during trading on Friday, reaching $181.26. 751,604 shares of the company were exchanged, compared to its average volume of 1,132,154. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The Hershey Company has a twelve month low of $178.82 and a twelve month high of $211.92. The firm has a market capitalization of $36.67 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 4.22 and a beta of 0.37. The business has a 50-day moving average price of $192.75 and a 200-day moving average price of $192.81.

Hershey (NYSE:HSY – Get Free Report) last released its quarterly earnings data 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 firm 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%. The firm’s revenue was down 16.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.01 EPS. Sell-side analysts anticipate that The Hershey Company will post 9.45 EPS for the current fiscal year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were issued a dividend of $1.37 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $5.48 annualized dividend and a yield of 3.02%. Hershey’s dividend payout ratio is presently 60.89%.

Hershey Profile

(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.

See Also

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