Westwood Holdings Group Inc. Increases Stock Position in The Hershey Company (NYSE:HSY)

Westwood Holdings Group Inc. increased its position in The Hershey Company (NYSE:HSY) by 3.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 377,924 shares of the company’s stock after buying an additional 12,162 shares during the quarter. Westwood Holdings Group Inc. owned about 0.19% of Hershey worth $69,474,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Hershey by 14.2% during the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock valued at $3,372,965,000 after buying an additional 2,158,912 shares in the last quarter. Confluence Investment Management LLC raised its holdings in shares of Hershey by 297.9% during the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after buying an additional 537,419 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in Hershey during the 2nd quarter worth approximately $82,123,000. Bryn Mawr Capital Management LLC boosted its holdings in Hershey by 3,404.3% in the 1st quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock worth $49,879,000 after acquiring an additional 249,129 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Hershey by 1,194.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock valued at $45,837,000 after purchasing an additional 230,077 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Insider Transactions at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $182.93, for a total transaction of $274,395.00. Following the completion of the sale, the chief financial officer now directly owns 35,728 shares in the company, valued at $6,535,723.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at $644,912.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction on Monday, June 24th. The shares were sold at an average price of $182.93, for a total transaction of $274,395.00. Following the completion of the sale, the chief financial officer now directly owns 35,728 shares of the company’s stock, valued at approximately $6,535,723.04. The disclosure for this sale can be found here. Insiders sold a total of 3,538 shares of company stock valued at $667,793 over the last quarter. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on HSY shares. Argus downgraded shares of Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Piper Sandler restated a “neutral” rating and set a $179.00 target price on shares of Hershey in a research note on Friday, June 21st. Bank of America lowered their price objective on Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. JPMorgan Chase & Co. raised their price target on shares of Hershey from $183.00 to $188.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Sanford C. Bernstein reduced their price objective on shares of Hershey from $237.00 to $230.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $203.21.

Hershey Price Performance

Shares of NYSE:HSY opened at $195.23 on Friday. The company has a market capitalization of $39.48 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 5.77 and a beta of 0.37. 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 stock has a fifty day moving average of $196.30 and a 200-day moving average of $194.03. The Hershey Company has a one year low of $178.82 and a one year high of $211.92.

Hershey (NYSE:HSY) last posted 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 firm had revenue of $2.07 billion for 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%. Hershey’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.01 earnings per share. As a group, equities analysts anticipate that The Hershey Company will post 9.5 EPS for the current fiscal year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were issued a $1.37 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.81%. Hershey’s payout ratio is currently 54.31%.

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.