Chesley Taft & Associates LLC Sells 65 Shares of The Hershey Company (NYSE:HSY)

Chesley Taft & Associates LLC reduced its stake in The Hershey Company (NYSE:HSY) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,819 shares of the company’s stock after selling 65 shares during the period. Chesley Taft & Associates LLC’s holdings in Hershey were worth $2,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Capital Advisors Ltd. LLC grew its position in Hershey by 218.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after acquiring an additional 96 shares during the last quarter. Riverview Trust Co bought a new position in Hershey in the 1st quarter valued at $29,000. GHP Investment Advisors Inc. boosted its position 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 buying an additional 55 shares during the last quarter. OFI Invest Asset Management bought a new position in Hershey in the 2nd quarter valued at $29,000. Finally, Crewe Advisors LLC bought a new position in Hershey in the 1st quarter valued at $35,000. 57.96% of the stock is currently owned by institutional investors.

Hershey Price Performance

Shares of NYSE HSY opened at $187.60 on Wednesday. The stock has a market capitalization of $37.94 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 5.67 and a beta of 0.37. The business has a 50-day moving average of $196.32 and a 200-day moving average of $193.71. 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 Hershey Company has a fifty-two week low of $178.82 and a fifty-two week high of $211.92.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.17). The company had revenue of $2.07 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.01 EPS. As a group, sell-side analysts predict that The Hershey Company will post 9.49 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 2.92%. The ex-dividend date was Friday, August 16th. Hershey’s payout ratio is 54.31%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Jefferies Financial Group lowered Hershey from a “hold” rating to an “underperform” rating and decreased their price objective for the company from $184.00 to $163.00 in a research report on Thursday, September 26th. UBS Group lowered Hershey from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $226.00 to $209.00 in a research report on Monday. Argus lowered Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Wells Fargo & Company cut their price target on Hershey from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Friday, June 21st. Finally, Sanford C. Bernstein downgraded Hershey from an “outperform” rating to a “market perform” rating and cut their price target for the company from $230.00 to $205.00 in a research note on Monday. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $197.90.

Insider Activity

In related news, CAO Jennifer Mccalman sold 538 shares of Hershey 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total transaction of $286,245.00. Following the completion of the transaction, the chief financial officer now owns 34,228 shares in the company, valued at approximately $6,531,729.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jennifer Mccalman sold 538 shares of Hershey 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 owns 3,238 shares of the company’s stock, valued at $644,912.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

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.