Bridges Investment Management Inc. Raises Stake in The Hershey Company (NYSE:HSY)

Bridges Investment Management Inc. increased its stake in The Hershey Company (NYSE:HSY) by 353.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 68,051 shares of the company’s stock after buying an additional 53,050 shares during the quarter. Bridges Investment Management Inc.’s holdings in Hershey were worth $12,510,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HSY. Capital Advisors Ltd. LLC raised its stake 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 acquiring an additional 96 shares during the period. GHP Investment Advisors Inc. raised its stake in Hershey by 55.0% in the 2nd 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 period. Riverview Trust Co bought a new stake in Hershey in the 1st quarter valued at about $29,000. OFI Invest Asset Management bought a new stake in Hershey in the 2nd quarter valued at about $29,000. Finally, Quarry LP bought a new stake in Hershey in the 4th quarter valued at about $34,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $182.93, for a total transaction of $274,395.00. Following the completion of the transaction, the chief financial officer now directly owns 35,728 shares in the company, valued at $6,535,723.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Hershey 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 transaction, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at $644,912.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $182.93, for a total value of $274,395.00. Following the completion of the transaction, the chief financial officer now directly owns 35,728 shares in the company, valued at $6,535,723.04. The disclosure for this sale can be found here. Insiders sold 3,538 shares of company stock worth $667,793 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

Hershey Stock Performance

NYSE:HSY opened at $195.52 on Friday. The firm has a market cap 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 Hershey Company has a fifty-two week low of $178.82 and a fifty-two week high of $212.14. 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 business has a 50 day moving average price of $196.17 and a 200-day moving average price of $193.95.

Hershey (NYSE:HSY) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. Hershey’s revenue was down 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.01 EPS. Equities research analysts predict that The Hershey Company will post 9.5 earnings per share for the current year.

Hershey Dividend Announcement

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 $1.37 dividend. The ex-dividend date was Friday, August 16th. This represents a $5.48 dividend on an annualized basis and a yield of 2.80%. Hershey’s dividend payout ratio (DPR) is 54.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada lowered their price objective on Hershey from $209.00 to $205.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. Wells Fargo & Company decreased their price target on Hershey from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. Barclays decreased their price target on Hershey from $210.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 18th. Sanford C. Bernstein decreased their price target on Hershey from $237.00 to $230.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Finally, Argus cut Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Hershey presently has an average rating of “Hold” and a consensus target price of $203.21.

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.