Zurcher Kantonalbank Zurich Cantonalbank Purchases 3,593 Shares of The Hershey Company (NYSE:HSY)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in The Hershey Company (NYSE:HSY) by 7.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,026 shares of the company’s stock after purchasing an additional 3,593 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Hershey were worth $9,196,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in shares of Hershey by 8.7% in the 4th quarter. Van ECK Associates Corp now owns 25,389 shares of the company’s stock valued at $4,734,000 after acquiring an additional 2,041 shares during the last quarter. Kestra Private Wealth Services LLC boosted its position in Hershey by 12.6% in the 4th quarter. Kestra Private Wealth Services LLC now owns 12,622 shares of the company’s stock valued at $2,353,000 after buying an additional 1,416 shares during the period. Brighton Jones LLC bought a new stake in shares of Hershey during the fourth quarter valued at approximately $479,000. Victory Capital Management Inc. boosted its holdings in shares of Hershey by 1.6% in the fourth quarter. Victory Capital Management Inc. now owns 121,193 shares of the company’s stock valued at $22,595,000 after purchasing an additional 1,921 shares during the period. Finally, Triumph Capital Management grew its stake in Hershey by 57.3% in the fourth quarter. Triumph Capital Management now owns 2,124 shares of the company’s stock worth $396,000 after purchasing an additional 774 shares in the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hershey

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total value of $286,245.00. Following the completion of the transaction, the chief financial officer now directly owns 34,228 shares of the company’s stock, valued at approximately $6,531,729.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the company’s stock in a transaction dated 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 owns 3,238 shares in the company, valued at approximately $644,912.46. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total transaction of $286,245.00. Following the transaction, the chief financial officer now owns 34,228 shares of the company’s stock, valued at approximately $6,531,729.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,538 shares of company stock worth $667,793. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

HSY has been the topic of several research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on Hershey from $192.00 to $191.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and lowered their price target for the company from $195.00 to $182.00 in a report on Tuesday. Argus lowered shares of Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. The Goldman Sachs Group assumed coverage on shares of Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 target price for the company. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $179.00 price target on shares of Hershey in a research report on Friday, June 21st. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $202.79.

Hershey Price Performance

Shares of Hershey stock traded down $0.11 on Friday, hitting $191.59. The company’s stock had a trading volume of 229,320 shares, compared to its average volume of 1,788,295. The Hershey Company has a 1 year low of $178.82 and a 1 year high of $219.92. The firm has a fifty day moving average price of $191.72 and a 200-day moving average price of $193.19. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.64 and a current ratio of 0.86. The company has a market capitalization of $38.75 billion, a price-to-earnings ratio of 19.00, a price-to-earnings-growth ratio of 4.96 and a beta of 0.36.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. The business’s revenue was down 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.01 earnings per share. As a group, sell-side analysts anticipate that The Hershey Company will post 9.59 earnings per share for the current fiscal year.

Hershey Announces Dividend

The business also recently announced 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. This represents a $5.48 annualized dividend and a yield of 2.86%. The ex-dividend date is Friday, August 16th. Hershey’s dividend payout ratio (DPR) is presently 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.