Sumitomo Mitsui DS Asset Management Company Ltd Sells 66 Shares of The Hershey Company (NYSE:HSY)

Sumitomo Mitsui DS Asset Management Company Ltd cut its holdings in The Hershey Company (NYSE:HSY) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 20,574 shares of the company’s stock after selling 66 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Hershey were worth $3,946,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Capital Advisors Ltd. LLC boosted its position in Hershey by 218.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after buying an additional 96 shares during the last quarter. GHP Investment Advisors Inc. boosted its holdings in Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after acquiring an additional 55 shares during the last quarter. Riverview Trust Co acquired a new stake in Hershey in the first quarter worth about $29,000. OFI Invest Asset Management bought a new stake in Hershey during the 2nd quarter worth about $29,000. Finally, Crewe Advisors LLC acquired a new position in Hershey during the 1st quarter valued at about $35,000. 57.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on HSY. The Goldman Sachs Group assumed coverage on shares of Hershey in a research report on Monday, August 12th. They set a “sell” rating and a $185.00 price target for the company. Bank of America dropped their target price on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. UBS Group lowered Hershey from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $226.00 to $209.00 in a research report on Monday, October 7th. Jefferies Financial Group downgraded Hershey from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $184.00 to $163.00 in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. reduced their target price on Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Four equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $195.00.

Hershey Stock Performance

HSY opened at $185.68 on Monday. The company has a market capitalization of $37.55 billion, a price-to-earnings ratio of 18.40, a P/E/G ratio of 5.44 and a beta of 0.37. The business’s 50-day moving average price is $194.01 and its two-hundred day moving average price is $193.11. 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 current ratio of 0.86 and a quick ratio of 0.48.

Hershey (NYSE:HSY) last announced its earnings results 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). Hershey had a net margin of 16.76% and a return on equity of 45.36%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same period in the prior year, the business posted $2.01 EPS. The firm’s quarterly revenue was down 16.7% compared to the same quarter last year. Equities analysts expect that The Hershey Company will post 9.47 EPS for the current fiscal year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Friday, August 16th. Hershey’s dividend payout ratio (DPR) is currently 54.31%.

Insider Buying and Selling at Hershey

In other news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $199.17, for a total value of $107,153.46. Following the completion of the transaction, the chief accounting officer now owns 3,238 shares in the company, valued at $644,912.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 34,228 shares in the company, valued at $6,531,729.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Jennifer Mccalman sold 538 shares of the firm’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 completion of the transaction, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at $644,912.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

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.