The Hershey Company (NYSE:HSY) Shares Acquired by Cambridge Investment Research Advisors Inc.

Cambridge Investment Research Advisors Inc. boosted its holdings in The Hershey Company (NYSE:HSY) by 11.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 89,691 shares of the company’s stock after acquiring an additional 8,899 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Hershey were worth $16,488,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HSY. Vanguard Group Inc. boosted its position 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 worth $3,372,965,000 after purchasing an additional 2,158,912 shares during the period. Norges Bank acquired a new position in Hershey during the fourth quarter worth $349,448,000. Confluence Investment Management LLC boosted its position in shares of Hershey by 297.9% during the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after buying an additional 537,419 shares during the period. Bryn Mawr Capital Management LLC grew its stake in shares of Hershey by 3,404.3% in the first quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock valued at $49,879,000 after buying an additional 249,129 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Hershey by 98.4% in the 1st quarter. Principal Financial Group Inc. now owns 419,947 shares of the company’s stock valued at $81,680,000 after buying an additional 208,293 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Insiders Place Their Bets

In other news, 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 transaction, the chief accounting officer now directly owns 3,238 shares in the company, valued at $644,912.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $182.93, for a total value of $274,395.00. Following the transaction, the chief financial officer now owns 35,728 shares in the company, valued at approximately $6,535,723.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at $644,912.46. The disclosure for this sale can be found here. Insiders have sold a total of 3,538 shares of company stock valued at $667,793 over the last quarter. Company insiders own 0.34% of the company’s stock.

Hershey Stock Down 2.7 %

Shares of NYSE:HSY opened at $191.13 on Wednesday. The firm has a 50 day simple moving average of $191.54 and a 200-day simple moving average of $193.20. The Hershey Company has a twelve month low of $178.82 and a twelve month high of $219.92. The company has a current ratio of 0.86, a quick ratio of 0.64 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $38.65 billion, a PE ratio of 18.94, a P/E/G ratio of 4.96 and a beta of 0.36.

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 analysts’ consensus estimates of $1.44 by ($0.17). The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. Hershey’s revenue was down 16.7% on a year-over-year basis. During the same period last year, the firm earned $2.01 earnings per share. On average, equities analysts predict that The Hershey Company will post 9.59 EPS for the current fiscal year.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Investors 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 2.87%. Hershey’s dividend payout ratio is presently 54.31%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on HSY. JPMorgan Chase & Co. raised their target price on Hershey from $183.00 to $188.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Piper Sandler reaffirmed a “neutral” rating and set a $179.00 target price on shares of Hershey in a research note on Friday, June 21st. Wells Fargo & Company decreased their price target on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Friday, June 21st. Sanford C. Bernstein cut their price objective on Hershey from $237.00 to $230.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Finally, Barclays decreased their target price on Hershey from $210.00 to $204.00 and set an “equal weight” rating for the company in a report on Tuesday, June 18th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $202.79.

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.