Fluent Financial LLC Cuts Holdings in The Hershey Company (NYSE:HSY)

Fluent Financial LLC reduced its position in The Hershey Company (NYSE:HSY) by 1.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,985 shares of the company’s stock after selling 389 shares during the period. Hershey accounts for about 1.9% of Fluent Financial LLC’s investment portfolio, making the stock its 20th biggest position. Fluent Financial LLC’s holdings in Hershey were worth $4,025,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Rafferty Asset Management LLC lifted its holdings in shares of Hershey by 4.0% in the 4th quarter. Rafferty Asset Management LLC now owns 11,621 shares of the company’s stock worth $2,167,000 after acquiring an additional 451 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in Hershey by 3.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 20,569 shares of the company’s stock valued at $3,835,000 after acquiring an additional 626 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Hershey by 96.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 17,614 shares of the company’s stock worth $3,284,000 after purchasing an additional 8,665 shares during the period. Cetera Advisor Networks LLC lifted its position in shares of Hershey by 30.9% during the fourth quarter. Cetera Advisor Networks LLC now owns 43,707 shares of the company’s stock worth $8,149,000 after purchasing an additional 10,327 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of Hershey by 0.7% during the fourth quarter. 1832 Asset Management L.P. now owns 16,245 shares of the company’s stock valued at $3,029,000 after purchasing an additional 113 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Insider Activity at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were 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 owns 34,228 shares of the company’s stock, valued at approximately $6,531,729.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, 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 directly owns 3,238 shares in the company, valued at approximately $644,912.46. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total transaction of $286,245.00. Following the completion of the transaction, the chief financial officer now owns 34,228 shares in the company, valued at $6,531,729.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Hershey Price Performance

Shares of Hershey stock traded up $0.85 on Friday, hitting $191.84. The company’s stock had a trading volume of 794,175 shares, compared to its average volume of 1,714,381. The company has a market capitalization of $38.80 billion, a price-to-earnings ratio of 19.01, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 0.87, a quick ratio of 0.48 and a current ratio of 0.86. The firm has a fifty day moving average price of $196.42 and a 200-day moving average price of $193.88.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.17). The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. Hershey’s revenue was down 16.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.01 EPS. As a group, sell-side analysts anticipate that The Hershey Company will post 9.49 earnings per share for the current fiscal year.

Hershey Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Bank of America decreased their price objective on shares of Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Sanford C. Bernstein decreased their target price on Hershey from $237.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Wells Fargo & Company cut their price objective on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating on the stock in a report on Friday, June 21st. JPMorgan Chase & Co. boosted their target price on shares of Hershey from $183.00 to $188.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and cut their price target for the stock from $195.00 to $182.00 in a report on Tuesday, August 27th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Hershey presently has an average rating of “Hold” and a consensus price target of $198.63.

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.