Fiduciary Financial Group LLC Purchases New Stake in The Hershey Company (NYSE:HSY)

Fiduciary Financial Group LLC purchased a new stake in The Hershey Company (NYSE:HSY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,068 shares of the company’s stock, valued at approximately $203,000.

Several other hedge funds have also bought and sold shares of HSY. Riverview Trust Co purchased a new position in Hershey during the 1st quarter worth $29,000. Rakuten Securities Inc. purchased a new position in Hershey during the 4th quarter worth $32,000. Quarry LP purchased a new position in Hershey during the 4th quarter worth $34,000. Crewe Advisors LLC purchased a new position in Hershey during the 1st quarter worth $35,000. Finally, Park Place Capital Corp purchased a new position in Hershey during the 1st quarter worth $36,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HSY. JPMorgan Chase & Co. lifted their price objective on shares of Hershey from $183.00 to $188.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Sanford C. Bernstein cut their price objective on shares of Hershey from $237.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Piper Sandler reissued a “neutral” rating and issued a $179.00 price target on shares of Hershey in a report on Friday, June 21st. Barclays cut their price target on shares of Hershey from $210.00 to $204.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 18th. Finally, The Goldman Sachs Group assumed coverage on shares of Hershey in a report on Monday. They issued a “sell” rating and a $185.00 price target on the stock. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Hershey currently has a consensus rating of “Hold” and a consensus price target of $203.47.

Hershey Price Performance

Shares of HSY traded down $1.79 during midday trading on Friday, hitting $193.49. 2,306,423 shares of the company traded hands, compared to its average volume of 1,839,756. The stock has a 50-day moving average of $190.30 and a 200-day moving average of $193.28. The Hershey Company has a one year low of $178.82 and a one year high of $221.27. The firm has a market cap of $39.13 billion, a P/E ratio of 19.18, a PEG ratio of 4.96 and a beta of 0.36. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.64.

Hershey (NYSE:HSY) last announced its quarterly earnings results 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). Hershey had a net margin of 16.76% and a return on equity of 45.36%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the company earned $2.01 earnings per share. The company’s quarterly revenue was down 16.7% on a year-over-year basis. As a group, sell-side analysts predict that The Hershey Company will post 9.59 EPS for the current fiscal year.

Hershey Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 1,500 shares of the company’s 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 transaction, the chief financial officer now directly owns 35,728 shares in the company, valued at $6,535,723.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Jennifer Mccalman sold 538 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 3,238 shares in the company, valued at $644,912.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $182.93, for a total transaction 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 5,038 shares of company stock worth $974,603. Insiders own 0.34% of the company’s stock.

Hershey 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.