EverSource Wealth Advisors LLC Acquires 180 Shares of The Hershey Company (NYSE:HSY)

EverSource Wealth Advisors LLC increased its holdings in shares of The Hershey Company (NYSE:HSY) by 8.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,217 shares of the company’s stock after purchasing an additional 180 shares during the period. EverSource Wealth Advisors LLC’s holdings in Hershey were worth $438,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capital Advisors Ltd. LLC boosted its holdings in shares of Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after acquiring an additional 96 shares during the period. GHP Investment Advisors Inc. boosted its holdings in shares of Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after acquiring an additional 55 shares during the period. Riverview Trust Co bought a new stake in shares of Hershey during the first quarter worth approximately $29,000. OFI Invest Asset Management bought a new stake in shares of Hershey during the second quarter worth approximately $29,000. Finally, Quarry LP bought a new stake in shares of Hershey during the fourth quarter worth approximately $34,000. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Down 0.9 %

Shares of NYSE:HSY opened at $193.34 on Wednesday. The company has a fifty day moving average of $196.49 and a 200-day moving average of $194.09. The company has a market capitalization of $39.10 billion, a PE ratio of 19.16, a price-to-earnings-growth ratio of 5.77 and a beta of 0.37. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.48 and a current ratio of 0.86. The Hershey Company has a 52-week low of $178.82 and a 52-week high of $211.92.

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

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were issued a dividend of $1.37 per share. The ex-dividend date was Friday, August 16th. This represents a $5.48 annualized dividend and a dividend yield of 2.83%. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on HSY shares. Sanford C. Bernstein reduced their price objective on Hershey from $237.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. The Goldman Sachs Group started coverage on Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price target for the company. Citigroup cut Hershey from a “neutral” rating to a “sell” rating and cut their price target for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. JPMorgan Chase & Co. boosted their price target on Hershey from $183.00 to $188.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Barclays cut their price target on Hershey from $204.00 to $202.00 and set an “equal weight” rating for the company in a research note on Tuesday. Three equities 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $200.61.

Insider Transactions at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the business’s 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 owns 34,228 shares of the company’s stock, valued at $6,531,729.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related 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 value of $107,153.46. Following 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 SEC, which is accessible through the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was 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 in the company, valued at approximately $6,531,729.24. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

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.