Eukles Asset Management Grows Stock Holdings in The Hershey Company (NYSE:HSY)

Eukles Asset Management raised its holdings in The Hershey Company (NYSE:HSY) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 15,741 shares of the company’s stock after acquiring an additional 117 shares during the period. Hershey accounts for about 1.3% of Eukles Asset Management’s holdings, making the stock its 28th biggest position. Eukles Asset Management’s holdings in Hershey were worth $2,894,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in HSY. Vanguard Group Inc. lifted its position in Hershey by 14.2% during the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after buying an additional 2,158,912 shares during the period. Norges Bank purchased a new position in shares of Hershey during the 4th quarter worth about $349,448,000. Confluence Investment Management LLC lifted its holdings in shares of Hershey by 297.9% during the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after acquiring an additional 537,419 shares during the period. Bryn Mawr Capital Management LLC boosted its position 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 worth $49,879,000 after acquiring an additional 249,129 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Hershey by 98.4% in the first quarter. Principal Financial Group Inc. now owns 419,947 shares of the company’s stock valued at $81,680,000 after purchasing an additional 208,293 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Performance

Shares of HSY stock opened at $193.06 on Monday. 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 company’s fifty day moving average price is $192.13 and its two-hundred day moving average price is $193.17. The firm has a market capitalization of $39.04 billion, a P/E ratio of 19.13, a P/E/G ratio of 5.60 and a beta of 0.36. The Hershey Company has a 12 month low of $178.82 and a 12 month high of $219.92.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.27 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 business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter last year, the firm posted $2.01 EPS. The company’s revenue was down 16.7% compared to the same quarter last year. On average, research analysts anticipate that The Hershey Company will post 9.5 earnings per share for the current fiscal year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Friday, August 16th. Hershey’s payout ratio is currently 54.31%.

Analysts Set New Price Targets

A number of brokerages have weighed in on HSY. Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and decreased their price target for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft lowered their price target on Hershey from $192.00 to $191.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. The Goldman Sachs Group assumed coverage on Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price objective on the stock. Piper Sandler reissued a “neutral” rating and set a $179.00 target price on shares of Hershey in a research report on Friday, June 21st. Finally, Bank of America reduced their price target on shares of Hershey from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $202.79.

Insider Buying and Selling

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction 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 directly owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Steven E. Voskuil sold 1,500 shares of the business’s 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 sale, the chief financial officer now directly owns 34,228 shares of the company’s stock, valued at $6,531,729.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,538 shares of company stock worth $667,793. Insiders own 0.34% of the company’s stock.

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.