Providence Capital Advisors LLC Buys 334 Shares of The Hershey Company (NYSE:HSY)

Providence Capital Advisors LLC lifted its stake in shares of The Hershey Company (NYSE:HSY) by 1.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,754 shares of the company’s stock after acquiring an additional 334 shares during the quarter. Hershey makes up approximately 1.4% of Providence Capital Advisors LLC’s holdings, making the stock its 22nd biggest position. Providence Capital Advisors LLC’s holdings in Hershey were worth $6,205,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HSY. Raleigh Capital Management Inc. boosted its stake in Hershey by 20.6% in the 4th quarter. Raleigh Capital Management Inc. now owns 316 shares of the company’s stock worth $59,000 after purchasing an additional 54 shares during the period. GHP Investment Advisors Inc. boosted its stake in Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares during the period. Sound Income Strategies LLC boosted its stake in Hershey by 13.3% in the 1st quarter. Sound Income Strategies LLC now owns 486 shares of the company’s stock worth $95,000 after purchasing an additional 57 shares during the period. Wesbanco Bank Inc. boosted its stake in Hershey by 3.7% in the 2nd quarter. Wesbanco Bank Inc. now owns 1,673 shares of the company’s stock worth $308,000 after purchasing an additional 59 shares during the period. Finally, Brighton Jones LLC boosted its stake in Hershey by 2.3% in the 2nd quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after purchasing an additional 59 shares during the period. 57.96% of the stock is currently owned by institutional investors.

Insider Activity at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total value of $286,245.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total value of $286,245.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction dated 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 disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Hershey Stock Down 0.2 %

NYSE:HSY opened at $195.12 on Tuesday. The Hershey Company has a twelve month low of $178.82 and a twelve month high of $211.92. The company has a market cap of $39.46 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 5.77 and a beta of 0.37. The stock has a fifty day simple moving average of $196.42 and a 200-day simple moving average of $194.10. 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 released its earnings results on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.17). Hershey had a return on equity of 45.36% and a net margin of 16.76%. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the business posted $2.01 earnings per share. The firm’s revenue for the quarter was down 16.7% compared to the same quarter last year. Analysts anticipate that The Hershey Company will post 9.5 EPS for the current year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were issued a $1.37 dividend. The ex-dividend date was Friday, August 16th. This represents a $5.48 annualized dividend and a dividend yield of 2.81%. Hershey’s payout ratio is currently 54.31%.

Analyst Ratings Changes

A number of research analysts recently weighed in on HSY shares. Royal Bank of Canada cut their target price on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Barclays cut their target price on shares of Hershey from $210.00 to $204.00 and set an “equal weight” rating for the company in a report on Tuesday, June 18th. Wells Fargo & Company cut their target price on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Friday, June 21st. Finally, Argus lowered shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $200.72.

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.