Johnson Investment Counsel Inc. Increases Stake in The Hershey Company (NYSE:HSY)

Johnson Investment Counsel Inc. grew its holdings in shares of The Hershey Company (NYSE:HSY) by 26.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 255,873 shares of the company’s stock after purchasing an additional 52,987 shares during the quarter. Johnson Investment Counsel Inc. owned approximately 0.13% of Hershey worth $47,037,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of HSY. Capital Advisors Ltd. LLC grew its stake in Hershey by 218.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. Riverview Trust Co purchased a new stake in shares of Hershey in the first quarter valued at approximately $29,000. OFI Invest Asset Management acquired a new stake in shares of Hershey in the second quarter valued at approximately $29,000. Quarry LP acquired a new stake in shares of Hershey in the fourth quarter valued at approximately $34,000. Finally, Crewe Advisors LLC purchased a new position in Hershey during the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Trading Down 2.1 %

NYSE HSY opened at $198.62 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.48 and a current ratio of 0.86. The firm has a market cap of $40.17 billion, a price-to-earnings ratio of 19.68, a PEG ratio of 5.80 and a beta of 0.37. The firm has a 50 day simple moving average of $194.48 and a 200-day simple moving average of $193.52. The Hershey Company has a one year low of $178.82 and a one year high of $213.85.

Hershey (NYSE:HSY) last issued 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 net margin of 16.76% and a return on equity of 45.36%. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the prior year, the business earned $2.01 EPS. The business’s quarterly revenue was down 16.7% on a year-over-year basis. Equities research analysts anticipate that The Hershey Company will post 9.5 EPS for the current fiscal year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Friday, August 16th. Hershey’s dividend payout ratio is currently 54.31%.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on HSY shares. Bank of America cut their target price on Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Citigroup downgraded shares of Hershey from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $195.00 to $182.00 in a research note on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday. Wells Fargo & Company cut their price target on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Friday, June 21st. Finally, Sanford C. Bernstein decreased their price objective on Hershey from $237.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $203.21.

Hershey Company 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.