AMI Investment Management Inc. Grows Stock Holdings in The Hershey Company (NYSE:HSY)

AMI Investment Management Inc. lifted its position in shares of The Hershey Company (NYSE:HSY) by 23.1% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,557 shares of the company’s stock after buying an additional 1,980 shares during the quarter. AMI Investment Management Inc.’s holdings in Hershey were worth $1,941,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Hershey by 14.2% during the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock valued at $3,372,965,000 after buying an additional 2,158,912 shares in the last quarter. Norges Bank bought a new stake in Hershey in the 4th quarter valued at $349,448,000. Janus Henderson Group PLC increased its holdings in Hershey by 6.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock valued at $289,327,000 after acquiring an additional 90,329 shares during the last quarter. Vontobel Asset Management Inc. increased its holdings in Hershey by 16.8% in the 4th quarter. Vontobel Asset Management Inc. now owns 781,967 shares of the company’s stock valued at $151,715,000 after acquiring an additional 112,304 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Hershey by 2.5% in the 4th 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 during the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on HSY shares. Wells Fargo & Company cut their price target on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating on the stock in a report on Friday, June 21st. Bank of America cut their price target on shares of Hershey from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Royal Bank of Canada lowered their price objective on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Argus cut shares of Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, 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. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $203.47.

Insider Buying and Selling at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the 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 sale, the chief financial officer now owns 35,728 shares in the company, valued at $6,535,723.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Steven E. Voskuil sold 1,500 shares of the 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 sale, the chief financial officer now owns 35,728 shares in the company, valued at $6,535,723.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jennifer Mccalman sold 538 shares of the 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 completion of the sale, the chief accounting officer now owns 3,238 shares in the company, valued at approximately $644,912.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,538 shares of company stock worth $667,793. 0.34% of the stock is owned by corporate insiders.

Hershey Stock Up 0.4 %

Shares of NYSE HSY traded up $0.77 during trading hours on Friday, hitting $196.33. 946,237 shares of the stock were exchanged, compared to its average volume of 1,813,594. 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 company has a market cap of $39.70 billion, a PE ratio of 19.46, a PEG ratio of 4.96 and a beta of 0.36. The firm has a fifty day moving average price of $191.11 and a 200-day moving average price of $193.28. The Hershey Company has a 12 month low of $178.82 and a 12 month high of $219.92.

Hershey (NYSE:HSY) last issued its quarterly earnings results 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 company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the company posted $2.01 EPS. The company’s revenue for the quarter was down 16.7% compared to the same quarter last year. On average, sell-side analysts expect that The Hershey Company will post 9.59 EPS for the current year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be paid a dividend of $1.37 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $5.48 dividend on an annualized basis and a yield of 2.79%. Hershey’s payout ratio is 54.31%.

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.