The Hershey Company (NYSE:HSY) Shares Sold by Forsta AP Fonden

Forsta AP Fonden decreased its stake in The Hershey Company (NYSE:HSY) by 35.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,700 shares of the company’s stock after selling 14,100 shares during the quarter. Forsta AP Fonden’s holdings in Hershey were worth $4,724,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Raleigh Capital Management Inc. grew its position in shares of Hershey by 20.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 316 shares of the company’s stock valued at $59,000 after purchasing an additional 54 shares during the period. Sound Income Strategies LLC grew its position in shares of Hershey by 13.3% in the first quarter. Sound Income Strategies LLC now owns 486 shares of the company’s stock valued at $95,000 after purchasing an additional 57 shares during the period. Wesbanco Bank Inc. boosted its position in Hershey by 3.7% during the second quarter. Wesbanco Bank Inc. now owns 1,673 shares of the company’s stock worth $308,000 after acquiring an additional 59 shares during the last quarter. Integrated Advisors Network LLC boosted its position in Hershey by 3.5% during the fourth quarter. Integrated Advisors Network LLC now owns 1,794 shares of the company’s stock worth $334,000 after acquiring an additional 60 shares during the last quarter. Finally, Rehmann Capital Advisory Group boosted its position in Hershey by 5.4% during the first quarter. Rehmann Capital Advisory Group now owns 1,165 shares of the company’s stock worth $227,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Insiders Place Their Bets

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. 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 business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $182.93, for a total transaction of $274,395.00. Following the transaction, the chief financial officer now owns 35,728 shares of the company’s stock, valued at approximately $6,535,723.04. The disclosure for this sale can be found here. Insiders sold 3,538 shares of company stock worth $667,793 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Hershey Trading Up 1.2 %

Shares of HSY stock opened at $200.83 on Friday. 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 stock has a market capitalization of $40.63 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 5.77 and a beta of 0.37. The company has a 50 day moving average price of $195.11 and a 200 day moving average price of $193.69. 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 announced its quarterly earnings data 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). 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 analyst estimates of $2.30 billion. During the same quarter last year, the firm posted $2.01 EPS. The company’s revenue for the quarter was down 16.7% on a year-over-year basis. Equities research analysts predict that The Hershey Company will post 9.5 EPS for the current fiscal year.

Hershey Dividend Announcement

The company also recently declared 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 yield of 2.73%. The ex-dividend date is Friday, August 16th. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

Analyst Upgrades and Downgrades

HSY has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Piper Sandler restated a “neutral” rating and set a $179.00 price target on shares of Hershey in a research report on Friday, June 21st. Wells Fargo & Company lowered their price target on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. 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. Finally, Bank of America reduced their target price on shares of Hershey from $210.00 to $200.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.