Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Raises Position in The Hershey Company (NYSE:HSY)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in The Hershey Company (NYSE:HSY) by 20.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,716 shares of the company’s stock after purchasing an additional 2,635 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Hershey were worth $2,986,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in HSY. Vanguard Group Inc. grew its position in 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 acquiring an additional 2,158,912 shares during the period. Norges Bank acquired a new stake in Hershey during the 4th quarter worth approximately $349,448,000. Confluence Investment Management LLC raised its holdings in Hershey by 297.9% in the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after buying an additional 537,419 shares during the period. Bryn Mawr Capital Management LLC lifted its position in Hershey by 3,404.3% during the first quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock valued at $49,879,000 after buying an additional 249,129 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in Hershey by 98.4% during the first quarter. Principal Financial Group Inc. now owns 419,947 shares of the company’s stock worth $81,680,000 after buying an additional 208,293 shares during the period. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Stock Performance

Hershey stock traded down $3.17 during trading hours on Friday, hitting $193.49. The stock had a trading volume of 2,330,406 shares, compared to its average volume of 1,839,756. The company has a 50-day moving average of $190.30 and a two-hundred day moving average of $193.28. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The Hershey Company has a fifty-two week low of $178.82 and a fifty-two week high of $221.27. The company has a market cap of $39.13 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 4.96 and a beta of 0.36.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.17). The firm had revenue of $2.07 billion during 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 for the quarter was down 16.7% compared to the same quarter last year. During the same period last year, the business earned $2.01 earnings per share. On average, equities research analysts anticipate that The Hershey Company will post 9.59 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be paid a $1.37 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $5.48 annualized dividend and a dividend yield of 2.83%. Hershey’s dividend payout ratio is currently 54.31%.

Insider Transactions at Hershey

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $182.93, for a total value of $274,395.00. Following the sale, the chief financial officer now directly 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 accessible through this hyperlink. 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 sale, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction 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 of the company’s stock, valued at approximately $6,535,723.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,038 shares of company stock valued at $974,603. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Hershey from $192.00 to $191.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company dropped their target price on Hershey from $205.00 to $195.00 and set an “equal weight” rating on the stock in a report on Friday, June 21st. Barclays lowered their price objective on shares of Hershey from $210.00 to $204.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their target price on shares of Hershey from $183.00 to $188.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Piper Sandler restated a “neutral” rating and issued a $179.00 target price on shares of Hershey in a research note on Friday, June 21st. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $203.47.

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.