The Hershey Company (NYSE:HSY) Shares Sold by Argyle Capital Management Inc.

Argyle Capital Management Inc. decreased its position in The Hershey Company (NYSE:HSY) by 3.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 12,473 shares of the company’s stock after selling 425 shares during the period. Argyle Capital Management Inc.’s holdings in Hershey were worth $2,392,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of HSY. LPL Financial LLC boosted its position in shares of Hershey by 10.0% during the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock valued at $58,951,000 after purchasing an additional 29,246 shares in the last quarter. CreativeOne Wealth LLC boosted its holdings in Hershey by 179.4% during the first quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock worth $1,353,000 after buying an additional 4,468 shares in the last quarter. Oak Harvest Investment Services acquired a new position in Hershey in the first quarter worth approximately $5,383,000. Mirae Asset Global Investments Co. Ltd. increased its holdings 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 buying an additional 50,014 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Hershey by 239.2% during the 1st quarter. SG Americas Securities LLC now owns 22,035 shares of the company’s stock valued at $4,286,000 after acquiring an additional 15,538 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Insider Buying and Selling

In other news, CAO Jennifer Mccalman sold 538 shares of the 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 transaction, the chief accounting officer now owns 3,238 shares in the company, valued at approximately $644,912.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on HSY shares. Redburn Atlantic initiated coverage on Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price on the stock. Piper Sandler dropped their price target on Hershey from $179.00 to $165.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Argus lowered shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $195.00 to $182.00 in a research note on Tuesday, August 27th. Finally, 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 target price on the stock. Five research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $191.11.

Hershey Stock Performance

Hershey stock traded up $0.39 on Tuesday, reaching $183.24. 203,750 shares of the stock were exchanged, compared to its average volume of 1,664,480. 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 Hershey Company has a twelve month low of $178.82 and a twelve month high of $211.92. The firm has a fifty day moving average price of $192.22 and a two-hundred day moving average price of $192.67. The stock has a market cap of $37.06 billion, a PE ratio of 18.12, a PEG ratio of 4.22 and a beta of 0.37.

Hershey (NYSE:HSY) last issued 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 the consensus estimate of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. Hershey’s revenue for the quarter was down 16.7% on a year-over-year basis. During the same period last year, the company earned $2.01 earnings per share. Sell-side analysts anticipate that The Hershey Company will post 9.45 EPS for the current year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Friday, August 16th. Hershey’s dividend payout ratio is presently 54.31%.

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.