The Hershey Company (NYSE:HSY) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its position in shares of The Hershey Company (NYSE:HSY) by 7.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 377,879 shares of the company’s stock after selling 31,235 shares during the quarter. Hsbc Holdings PLC owned about 0.19% of Hershey worth $69,439,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Elo Mutual Pension Insurance Co lifted its stake in shares of Hershey by 13.4% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 14,024 shares of the company’s stock valued at $2,578,000 after purchasing an additional 1,656 shares during the last quarter. Blair William & Co. IL raised its holdings in Hershey by 10.3% in the 2nd quarter. Blair William & Co. IL now owns 34,394 shares of the company’s stock valued at $6,323,000 after buying an additional 3,209 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Hershey by 11.6% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,305 shares of the company’s stock valued at $2,777,000 after buying an additional 1,586 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in Hershey by 1,194.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock worth $45,837,000 after buying an additional 230,077 shares during the period. Finally, SYSTM Wealth Solutions LLC increased its position in shares of Hershey by 4.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 33,322 shares of the company’s stock valued at $6,126,000 after acquiring an additional 1,478 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction on Monday, August 12th. The shares were sold at an average price of $199.17, for a total value of $107,153.46. Following 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related 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 transaction of $107,153.46. Following the transaction, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at $644,912.46. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total value of $286,245.00. Following the sale, the chief financial officer now directly owns 34,228 shares of the company’s stock, valued at $6,531,729.24. The disclosure for this sale can be found here. Insiders have sold 3,538 shares of company stock worth $667,793 in the last quarter. 0.34% of the stock is owned by insiders.

Hershey Stock Performance

NYSE:HSY opened at $195.52 on Friday. The Hershey Company has a 12 month low of $178.82 and a 12 month high of $212.14. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48. The firm has a market capitalization of $39.54 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 5.77 and a beta of 0.37. The business’s fifty day moving average price is $196.17 and its 200 day moving average price is $193.95.

Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.27 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 analysts’ expectations of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. The company’s revenue was down 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.01 EPS. On average, sell-side analysts anticipate that The Hershey Company will post 9.5 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend was Friday, August 16th. Hershey’s payout ratio is 54.31%.

Analysts Set New Price Targets

HSY has been the subject of a number of research analyst reports. Royal Bank of Canada lowered their price objective on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company dropped their price objective on Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Friday, June 21st. JPMorgan Chase & Co. increased their target price on Hershey from $183.00 to $188.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Argus downgraded Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, Piper Sandler reissued a “neutral” rating and set a $179.00 price target on shares of Hershey in a research report on Friday, June 21st. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $203.21.

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.