Benin Management CORP Grows Holdings in The Hershey Company (NYSE:HSY)

Benin Management CORP raised its position in The Hershey Company (NYSE:HSY) by 60.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,679 shares of the company’s stock after buying an additional 2,880 shares during the quarter. Benin Management CORP’s holdings in Hershey were worth $1,473,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its stake in Hershey by 107.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 17,609 shares of the company’s stock valued at $3,377,000 after buying an additional 9,129 shares during the period. Wealth Alliance Advisory Group LLC acquired a new position in Hershey in the 3rd quarter valued at $283,000. Raymond James & Associates increased its stake in Hershey by 2.1% in the 3rd quarter. Raymond James & Associates now owns 279,572 shares of the company’s stock valued at $53,616,000 after buying an additional 5,872 shares during the period. Blue Trust Inc. increased its stake in Hershey by 31.4% in the 3rd quarter. Blue Trust Inc. now owns 1,068 shares of the company’s stock valued at $196,000 after buying an additional 255 shares during the period. Finally, Eliot Finkel Investment Counsel LLC increased its stake in Hershey by 33.8% in the 3rd quarter. Eliot Finkel Investment Counsel LLC now owns 15,760 shares of the company’s stock valued at $3,022,000 after buying an additional 3,985 shares during the period. 57.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hershey

In other news, CAO Jennifer Mccalman sold 538 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total value of $286,245.00. Following the transaction, the chief financial officer now owns 34,228 shares in the company, valued at approximately $6,531,729.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Jennifer Mccalman sold 538 shares of the firm’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 transaction of $107,153.46. Following the completion of the transaction, the chief accounting officer now owns 3,238 shares in the company, valued at $644,912.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Hershey Trading Down 0.1 %

NYSE:HSY traded down $0.20 on Monday, reaching $185.48. The stock had a trading volume of 227,046 shares, compared to its average volume of 1,676,930. The company has a market cap of $37.51 billion, a price-to-earnings ratio of 18.45, a P/E/G ratio of 5.44 and a beta of 0.37. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48. The firm’s fifty day moving average is $194.01 and its two-hundred day moving average is $193.11. The Hershey Company has a 12-month low of $178.82 and a 12-month high of $211.92.

Hershey (NYSE:HSY) last announced 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 company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. The company’s revenue was down 16.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.01 earnings per share. Equities analysts expect that The Hershey Company will post 9.47 EPS for the current fiscal year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were issued a dividend of $1.37 per share. The ex-dividend date was Friday, August 16th. This represents a $5.48 annualized dividend and a dividend yield of 2.95%. Hershey’s payout ratio is currently 54.31%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on HSY shares. Barclays dropped their price objective on shares of Hershey from $204.00 to $202.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 24th. Sanford C. Bernstein cut shares of Hershey from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $230.00 to $205.00 in a research note on Monday, October 7th. Jefferies Financial Group cut shares of Hershey from a “hold” rating to an “underperform” rating and lowered their price target for the stock from $184.00 to $163.00 in a research note on Thursday, September 26th. UBS Group cut shares of Hershey from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $226.00 to $209.00 in a research note on Monday, October 7th. Finally, Bank of America lowered their price objective 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. Four analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $195.00.

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.