Quarry LP Purchases 166 Shares of The Hershey Company (NYSE:HSY)

Quarry LP increased its holdings in shares of The Hershey Company (NYSE:HSY) by 123.9% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 300 shares of the company’s stock after purchasing an additional 166 shares during the period. Quarry LP’s holdings in Hershey were worth $55,000 as of its most recent filing with the SEC.

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

Insider Activity at Hershey

In other Hershey 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 transaction 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $199.17, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

Hershey Trading Up 0.4 %

Shares of HSY stock opened at $191.78 on Friday. The Hershey Company has a fifty-two week low of $178.82 and a fifty-two week high of $211.92. The stock’s fifty day moving average price is $196.42 and its two-hundred day moving average price is $193.88. 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 company has a market cap of $38.78 billion, a PE ratio of 19.01, a P/E/G ratio of 5.67 and a beta of 0.37.

Hershey (NYSE:HSY) last released its quarterly earnings data 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). 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 business’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same period last year, the business earned $2.01 earnings per share. Equities analysts predict that The Hershey Company will post 9.49 EPS for the current fiscal year.

Hershey Dividend Announcement

The business also recently disclosed 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 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%.

Analysts Set New Price Targets

Several research analysts have weighed in on HSY shares. Deutsche Bank Aktiengesellschaft increased their price target on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Citigroup lowered Hershey from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $195.00 to $182.00 in a research note on Tuesday, August 27th. Bank of America reduced their price target on Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. The Goldman Sachs Group started coverage on Hershey in a research report on Monday, August 12th. They set a “sell” rating and a $185.00 price objective on the stock. Finally, Royal Bank of Canada dropped their target price on Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Four investment 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’s stock. Based on data from MarketBeat.com, the company currently 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.