The Hershey Company (NYSE:HSY) Shares Bought by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lifted its position in shares of The Hershey Company (NYSE:HSY) by 13.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,024 shares of the company’s stock after buying an additional 1,656 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Hershey were worth $2,578,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in HSY. Vanguard Group Inc. increased its stake 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 in the last quarter. Confluence Investment Management LLC increased its position in Hershey by 297.9% during the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after buying an additional 537,419 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Hershey in the second quarter worth $82,123,000. Bryn Mawr Capital Management LLC lifted its position in shares of Hershey by 3,404.3% in the first quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock valued at $49,879,000 after acquiring an additional 249,129 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of Hershey by 1,194.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock valued at $45,837,000 after acquiring an additional 230,077 shares during the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hershey

In other news, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at $644,912.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Jennifer Mccalman sold 538 shares of the business’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 transaction, the chief accounting officer now owns 3,238 shares in the company, valued at $644,912.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $182.93, for a total value of $274,395.00. Following the sale, 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 valued at $667,793 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

Hershey Stock Performance

Shares of HSY stock opened at $195.52 on Friday. The company’s fifty day simple moving average is $196.17 and its 200-day simple moving average is $193.95. 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 52 week low of $178.82 and a 52 week high of $212.14. The company has a market cap of $39.54 billion, a PE ratio of 19.38, a P/E/G ratio of 5.77 and a beta of 0.37.

Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.17). Hershey had a net margin of 16.76% and a return on equity of 45.36%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period last year, the business earned $2.01 earnings per share. The company’s revenue for the quarter was down 16.7% compared to the same quarter last year. As a group, equities research analysts anticipate that The Hershey Company will post 9.5 EPS for the current year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Friday, August 16th. Hershey’s dividend payout ratio is presently 54.31%.

Analyst Ratings Changes

Several brokerages recently weighed in on HSY. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Wells Fargo & Company reduced their price objective on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Friday, June 21st. Argus cut shares of Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Piper Sandler reiterated a “neutral” rating and issued a $179.00 price target on shares of Hershey in a report on Friday, June 21st. Finally, Bank of America decreased their price objective on Hershey from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently 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.