Ensign Peak Advisors Inc Has $26.84 Million Position in The Hershey Company (NYSE:HSY)

Ensign Peak Advisors Inc lowered its stake in shares of The Hershey Company (NYSE:HSY) by 18.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 146,012 shares of the company’s stock after selling 33,761 shares during the period. Ensign Peak Advisors Inc owned approximately 0.07% of Hershey worth $26,841,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in HSY. Vanguard Group Inc. raised its position in shares of Hershey by 14.2% during the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock valued at $3,372,965,000 after buying an additional 2,158,912 shares during the last quarter. Confluence Investment Management LLC raised its position in shares of Hershey by 297.9% during the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after buying an additional 537,419 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Hershey in the second quarter worth about $82,123,000. Bryn Mawr Capital Management LLC raised its position in Hershey by 3,404.3% in the first quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock worth $49,879,000 after purchasing an additional 249,129 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in Hershey by 1,194.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock worth $45,837,000 after purchasing an additional 230,077 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Price Performance

HSY opened at $195.43 on Monday. The Hershey Company has a one year low of $178.82 and a one year high of $211.92. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48. The company’s 50 day simple moving average is $196.30 and its 200-day simple moving average is $194.08. The stock has a market capitalization of $39.52 billion, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 5.77 and a beta of 0.37.

Hershey (NYSE:HSY) last announced its quarterly earnings data 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 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 the consensus estimate of $2.30 billion. During the same period in the previous year, the business posted $2.01 earnings per share. Hershey’s revenue was down 16.7% compared to the same quarter last year. Sell-side analysts anticipate that The Hershey Company will post 9.5 earnings per share for the current fiscal year.

Hershey Announces Dividend

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

Analyst Ratings Changes

HSY has been the subject of several recent research reports. JPMorgan Chase & Co. increased their price target on shares of Hershey from $183.00 to $188.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Piper Sandler reissued a “neutral” rating and issued a $179.00 price target on shares of Hershey in a research report on Friday, June 21st. Wells Fargo & Company dropped their price target on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Friday, June 21st. Bank of America dropped their price target on shares of Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $200.72.

Insider Buying and Selling at Hershey

In other Hershey 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 sale, the chief accounting officer now directly owns 3,238 shares in the company, valued at $644,912.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total value of $286,245.00. Following the sale, the chief financial officer now directly owns 34,228 shares in the company, valued at $6,531,729.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Jennifer Mccalman sold 538 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $199.17, for a total transaction of $107,153.46. Following the completion of the sale, the chief accounting officer now owns 3,238 shares in the company, valued at $644,912.46. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Hershey 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.