Donaldson Capital Management LLC Raises Position in The Hershey Company (NYSE:HSY)

Donaldson Capital Management LLC increased its position in shares of The Hershey Company (NYSE:HSY) by 0.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,352 shares of the company’s stock after purchasing an additional 181 shares during the quarter. Donaldson Capital Management LLC’s holdings in Hershey were worth $3,711,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Norden Group LLC purchased a new position in shares of Hershey in the first quarter worth about $374,000. Private Advisor Group LLC boosted its holdings in shares of Hershey by 6.1% during the 1st quarter. Private Advisor Group LLC now owns 19,179 shares of the company’s stock worth $3,730,000 after purchasing an additional 1,099 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Hershey by 119.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,766 shares of the company’s stock valued at $19,633,000 after purchasing an additional 50,014 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Hershey by 2.3% in the first quarter. Daiwa Securities Group Inc. now owns 15,583 shares of the company’s stock valued at $3,031,000 after purchasing an additional 357 shares during the last quarter. Finally, Jennison Associates LLC lifted its position in Hershey by 20.1% during the first quarter. Jennison Associates LLC now owns 167,932 shares of the company’s stock worth $32,663,000 after buying an additional 28,051 shares in the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HSY has been the subject of several analyst reports. Piper Sandler dropped their target price on Hershey from $179.00 to $165.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Citigroup cut Hershey from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $195.00 to $182.00 in a report on Tuesday, August 27th. Argus lowered shares of Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Bank of America reduced their price target 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. Finally, The Goldman Sachs Group assumed coverage on shares of Hershey in a research report on Monday, August 12th. They set a “sell” rating and a $185.00 price objective for the company. Five research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $191.61.

Insider Buying and Selling

In other 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 value of $107,153.46. Following the completion of the sale, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Hershey Stock Up 0.9 %

Shares of NYSE:HSY opened at $179.26 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87. The firm has a 50 day simple moving average of $190.76 and a 200-day simple moving average of $192.53. The company has a market capitalization of $36.26 billion, a PE ratio of 19.92, a P/E/G ratio of 4.09 and a beta of 0.38. The Hershey Company has a twelve month low of $176.78 and a twelve month high of $211.92.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.17). Hershey had a return on equity of 45.36% and a net margin of 16.76%. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the previous year, the business posted $2.01 EPS. The business’s revenue for the quarter was down 16.7% compared to the same quarter last year. On average, equities analysts predict that The Hershey Company will post 9.42 EPS for the current fiscal year.

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.