Wilkins Investment Counsel Inc. Grows Stock Position in The Hershey Company (NYSE:HSY)

Wilkins Investment Counsel Inc. increased its holdings in The Hershey Company (NYSE:HSY) by 0.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 30,230 shares of the company’s stock after acquiring an additional 225 shares during the period. Wilkins Investment Counsel Inc.’s holdings in Hershey were worth $5,557,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Hershey by 14.2% in the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock valued at $3,372,965,000 after buying an additional 2,158,912 shares during the period. Norges Bank acquired a new stake in shares of Hershey during the fourth quarter valued at about $349,448,000. Confluence Investment Management LLC raised its stake in shares of Hershey by 297.9% in the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after acquiring an additional 537,419 shares during the period. Bryn Mawr Capital Management LLC lifted its holdings in shares of Hershey by 3,404.3% in the 1st 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. lifted 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 worth $81,680,000 after acquiring an additional 208,293 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Price Performance

HSY stock opened at $200.83 on Friday. The business has a 50 day moving average price of $195.11 and a 200 day moving average price of $193.69. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The stock has a market cap of $40.63 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 5.77 and a beta of 0.37. The Hershey Company has a fifty-two week low of $178.82 and a fifty-two week high of $213.85.

Hershey (NYSE:HSY) last issued 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 firm’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.01 EPS. Equities research analysts anticipate that The Hershey Company will post 9.5 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, August 16th. Hershey’s payout ratio is 54.31%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on HSY shares. Piper Sandler reissued a “neutral” rating and issued a $179.00 target price on shares of Hershey in a research report on Friday, June 21st. Barclays lowered 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. The Goldman Sachs Group started coverage on shares of Hershey in a research note on Monday, August 12th. They set a “sell” rating and a $185.00 price target on the stock. Argus lowered shares of Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. upped their target price on shares of Hershey from $183.00 to $188.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hershey currently has an average rating of “Hold” and a consensus target price of $203.21.

Insider Transactions at Hershey

In related news, CAO Jennifer Mccalman sold 538 shares of the company’s stock in a transaction dated 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. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Jennifer Mccalman sold 538 shares of the company’s stock in a transaction on Monday, August 12th. The shares were 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 owns 3,238 shares in the company, valued at approximately $644,912.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total transaction of $286,245.00. Following the transaction, the chief financial officer now directly owns 34,228 shares in the company, valued at $6,531,729.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,538 shares of company stock worth $667,793. Corporate 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.