Federated Hermes Inc. Buys 709 Shares of The Hershey Company (NYSE:HSY)

Federated Hermes Inc. raised its stake in shares of The Hershey Company (NYSE:HSY) by 2.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 34,942 shares of the company’s stock after purchasing an additional 709 shares during the quarter. Federated Hermes Inc.’s holdings in Hershey were worth $6,423,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Hershey by 14.2% during the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after purchasing an additional 2,158,912 shares during the period. Norges Bank bought a new position in shares of Hershey during the 4th quarter worth about $349,448,000. Janus Henderson Group PLC boosted its position in shares of Hershey by 6.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock valued at $289,327,000 after acquiring an additional 90,329 shares in the last quarter. Vontobel Asset Management Inc. boosted its position in shares of Hershey by 16.8% during the 4th quarter. Vontobel Asset Management Inc. now owns 781,967 shares of the company’s stock valued at $151,715,000 after acquiring an additional 112,304 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Hershey by 13.6% during the 4th quarter. Stifel Financial Corp now owns 748,194 shares of the company’s stock valued at $139,503,000 after acquiring an additional 89,586 shares in the last quarter. Institutional investors own 57.96% of the company’s stock.

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction that occurred 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 directly owns 34,228 shares of the company’s stock, valued at $6,531,729.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Hershey 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 value of $107,153.46. Following the completion of the sale, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at $644,912.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction that occurred 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 directly owns 34,228 shares of the company’s stock, valued at approximately $6,531,729.24. The disclosure for this sale can be found here. Insiders sold a total of 3,538 shares of company stock valued at $667,793 over the last ninety days. Insiders own 0.34% of the company’s stock.

Hershey Price Performance

Shares of HSY stock opened at $199.28 on Wednesday. The Hershey Company has a 1 year low of $178.82 and a 1 year high of $213.72. The firm’s 50 day moving average is $195.76 and its 200-day moving average is $193.91. The firm has a market capitalization of $40.30 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 5.77 and a beta of 0.37. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). Hershey had a return on equity of 45.36% and a net margin of 16.76%. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the company posted $2.01 earnings per share. Hershey’s revenue for the quarter was down 16.7% on a year-over-year basis. Sell-side analysts forecast that The Hershey Company will post 9.5 EPS for the current fiscal year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Friday, August 16th. Hershey’s dividend payout ratio (DPR) is 54.31%.

Analyst Ratings Changes

Several analysts have recently weighed in on HSY shares. JPMorgan Chase & Co. lifted their target price on shares of Hershey from $183.00 to $188.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Wells Fargo & Company decreased their target price 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. Sanford C. Bernstein decreased their target price on shares of Hershey from $237.00 to $230.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Bank of America decreased their target price on shares of Hershey from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada decreased their target price on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus 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.