Lombard Odier Asset Management Europe Ltd Invests $1.74 Million in The Hershey Company (NYSE:HSY)

Lombard Odier Asset Management Europe Ltd acquired a new stake in The Hershey Company (NYSE:HSY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,471 shares of the company’s stock, valued at approximately $1,741,000.

Several other hedge funds also recently added to or reduced their stakes in HSY. Vanguard Group Inc. lifted its position in Hershey by 14.2% in 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 lifted its holdings in shares of Hershey by 297.9% in the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after acquiring an additional 537,419 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Hershey during the 2nd quarter worth approximately $82,123,000. Bryn Mawr Capital Management LLC increased its holdings in Hershey by 3,404.3% in the 1st quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock valued at $49,879,000 after purchasing an additional 249,129 shares during 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 valued at $45,837,000 after purchasing an additional 230,077 shares during the period. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $199.17, for a total value of $107,153.46. Following the sale, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total value of $286,245.00. Following the completion of the transaction, the chief financial officer now owns 34,228 shares in the company, valued at approximately $6,531,729.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction dated 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 sale, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Hershey Stock Performance

Shares of HSY stock opened at $195.12 on Tuesday. The stock’s 50-day moving average price is $196.42 and its 200 day moving average price is $194.10. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $39.46 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 5.77 and a beta of 0.37. The Hershey Company has a 52-week low of $178.82 and a 52-week high of $211.92.

Hershey (NYSE:HSY) last posted 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). The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. The business’s quarterly revenue was down 16.7% on a year-over-year basis. During the same quarter last year, the business earned $2.01 earnings per share. As a group, equities research analysts forecast that The Hershey Company will post 9.5 EPS for the current year.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were paid a dividend of $1.37 per share. The ex-dividend date was Friday, August 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.81%. Hershey’s dividend payout ratio (DPR) is 54.31%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. 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. JPMorgan Chase & Co. lifted their target price on Hershey from $183.00 to $188.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Argus cut shares of Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Finally, Barclays cut their target price on shares of Hershey from $210.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 18th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Hershey presently has a consensus rating of “Hold” and an average target price of $200.72.

About Hershey

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.