Allspring Global Investments Holdings LLC Has $3.38 Million Position in The Hershey Company (NYSE:HSY)

Allspring Global Investments Holdings LLC raised its position in shares of The Hershey Company (NYSE:HSY) by 107.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,609 shares of the company’s stock after purchasing an additional 9,129 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Hershey were worth $3,377,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Hershey by 14.2% in the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after acquiring an additional 2,158,912 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Hershey by 6.5% in the first quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock worth $289,327,000 after acquiring an additional 90,329 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Hershey by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock worth $144,743,000 after acquiring an additional 25,780 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Hershey by 23.2% in the second quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock worth $143,962,000 after acquiring an additional 147,215 shares during the last quarter. Finally, Confluence Investment Management LLC increased its stake in shares of Hershey by 297.9% in the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after acquiring an additional 537,419 shares during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Jennifer Mccalman sold 538 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $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 accessible through this link. 0.34% of the stock is currently owned by company insiders.

Hershey Stock Performance

Shares of NYSE:HSY opened at $182.88 on Tuesday. The company’s 50 day moving average price is $192.22 and its two-hundred day moving average price is $192.67. The Hershey Company has a 12-month low of $178.82 and a 12-month high of $211.92. The firm has a market cap of $36.98 billion, a PE ratio of 18.12, a PEG ratio of 4.22 and a beta of 0.37. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87.

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 return on equity of 45.36% and a net margin of 16.76%. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the company earned $2.01 EPS. The business’s revenue for the quarter was down 16.7% on a year-over-year basis. Equities research analysts predict that The Hershey Company will post 9.45 earnings per share for the current year.

Hershey Announces Dividend

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. The ex-dividend date of this dividend was Friday, August 16th. This represents a $5.48 annualized dividend and a dividend yield of 3.00%. Hershey’s dividend payout ratio is 54.31%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Stifel Nicolaus lowered their target price on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research report on Friday. Piper Sandler lowered their target price on shares of Hershey from $179.00 to $165.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their target price on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Argus downgraded shares of Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and decreased their price target for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. Five investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $191.11.

Hershey Company 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.