Congress Wealth Management LLC DE reduced its stake in shares of The Hershey Company (NYSE:HSY – Free Report) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,487 shares of the company’s stock after selling 100 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Hershey were worth $621,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Toroso Investments LLC grew its stake in shares of Hershey by 5.2% during the first quarter. Toroso Investments LLC now owns 14,738 shares of the company’s stock valued at $3,749,000 after purchasing an additional 723 shares during the last quarter. Czech National Bank boosted its stake in Hershey by 0.6% in the first quarter. Czech National Bank now owns 17,311 shares of the company’s stock valued at $4,404,000 after acquiring an additional 108 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its stake in Hershey by 3.2% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 71,769 shares of the company’s stock valued at $18,259,000 after acquiring an additional 2,200 shares during the last quarter. Sound View Wealth Advisors Group LLC boosted its stake in Hershey by 203.3% in the first quarter. Sound View Wealth Advisors Group LLC now owns 3,530 shares of the company’s stock valued at $898,000 after acquiring an additional 2,366 shares during the last quarter. Finally, Financial Council Asset Management Inc bought a new position in Hershey in the first quarter valued at approximately $241,000. 56.47% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts have issued reports on HSY shares. Piper Sandler reduced their price objective on shares of Hershey from $285.00 to $240.00 and set an “overweight” rating on the stock in a research note on Friday. Mizuho reduced their price objective on shares of Hershey from $263.00 to $233.00 in a research note on Monday, July 31st. JPMorgan Chase & Co. reduced their price objective on shares of Hershey from $252.00 to $249.00 in a research note on Wednesday, July 12th. Morgan Stanley cut their target price on shares of Hershey from $270.00 to $245.00 in a report on Friday, July 28th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Hershey from $264.00 to $262.00 in a report on Monday, July 17th. Ten analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $262.10.
Hershey Trading Down 0.1 %
Shares of NYSE:HSY opened at $207.94 on Friday. The firm has a market cap of $42.52 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 2.55 and a beta of 0.29. The Hershey Company has a 12 month low of $206.69 and a 12 month high of $276.88. The company’s fifty day simple moving average is $222.20 and its 200 day simple moving average is $244.78. The company has a quick ratio of 0.55, a current ratio of 1.06 and a debt-to-equity ratio of 1.11.
Hershey (NYSE:HSY – Get Free Report) last released its earnings results on Thursday, July 27th. The company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.12. The business had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.50 billion. Hershey had a net margin of 16.49% and a return on equity of 55.74%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.80 earnings per share. As a group, research analysts forecast that The Hershey Company will post 9.55 EPS for the current fiscal year.
Hershey Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 18th were given a $1.192 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $4.77 dividend on an annualized basis and a yield of 2.29%. This is an increase from Hershey’s previous quarterly dividend of $1.04. Hershey’s dividend payout ratio (DPR) is 54.89%.
Insider Activity at Hershey
In other news, major shareholder Hershey Trust Co Trustee In Tr sold 10,292 shares of the business’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $260.43, for a total transaction of $2,680,345.56. Following the transaction, the insider now directly owns 2,066,119 shares in the company, valued at approximately $538,079,371.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Hershey Trust Co Trustee In Tr sold 10,292 shares of the stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $260.43, for a total value of $2,680,345.56. Following the sale, the insider now owns 2,066,119 shares in the company, valued at approximately $538,079,371.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Pamela M. Arway sold 187 shares of the company’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $241.66, for a total transaction of $45,190.42. Following the completion of the transaction, the director now owns 15,529 shares in the company, valued at $3,752,738.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,230 shares of company stock valued at $6,449,217. Corporate insiders own 0.34% of the company’s stock.
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; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.
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