The Hershey Company (NYSE:HSY) Position Lessened by Birmingham Capital Management Co. Inc. AL

Birmingham Capital Management Co. Inc. AL decreased its position in shares of The Hershey Company (NYSE:HSY) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,711 shares of the company’s stock after selling 78 shares during the period. Hershey accounts for approximately 2.2% of Birmingham Capital Management Co. Inc. AL’s portfolio, making the stock its 14th biggest position. Birmingham Capital Management Co. Inc. AL’s holdings in Hershey were worth $5,646,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Capital Advisors Ltd. LLC raised its holdings in shares of Hershey by 218.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. GHP Investment Advisors Inc. raised its holdings in Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after buying an additional 55 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of Hershey in the first quarter worth about $29,000. OFI Invest Asset Management bought a new stake in shares of Hershey during the 2nd quarter worth about $29,000. Finally, Quarry LP bought a new stake in shares of Hershey during the 4th quarter worth about $34,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their price objective on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Bank of America dropped their price target on shares of Hershey from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. upped their price objective on shares of Hershey from $183.00 to $188.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and lowered their target price for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Finally, 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 research report on Friday, June 21st. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Hershey presently has an average rating of “Hold” and an average target price of $198.63.

Hershey Stock Performance

HSY opened at $191.89 on Wednesday. The stock has a market cap of $38.81 billion, a PE ratio of 19.02, a P/E/G ratio of 5.67 and a beta of 0.37. The Hershey Company has a 1 year low of $178.82 and a 1 year high of $211.92. The stock’s 50 day simple moving average is $196.46 and its 200-day simple moving average is $193.94. 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 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). The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. The company’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.01 EPS. Sell-side analysts forecast that The Hershey Company will post 9.49 EPS for the current year.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend was Friday, August 16th. Hershey’s dividend payout ratio is 54.31%.

Insider Buying and Selling at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 34,228 shares of the company’s stock, valued at approximately $6,531,729.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, 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 transaction of $107,153.46. Following the completion of the transaction, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total transaction 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 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.