HBK Sorce Advisory LLC Sells 529 Shares in The Hershey Company (NYSE:HSY)

HBK Sorce Advisory LLC lowered its position in The Hershey Company (NYSE:HSY – Free Report) by 16.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,787 shares of the company’s stock after selling 529 shares during the period. HBK Sorce Advisory LLC’s holdings in Hershey were worth $512,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of Hershey by 9.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 730,292 shares of the company’s stock valued at $136,142,000 after purchasing an additional 64,238 shares during the last quarter. Beacon Pointe Advisors LLC boosted its holdings in shares of Hershey by 2.6% in the fourth quarter. Beacon Pointe Advisors LLC now owns 21,786 shares of the company’s stock worth $4,062,000 after acquiring an additional 553 shares in the last quarter. Panagora Asset Management Inc. lifted its position in Hershey by 32.9% in the fourth quarter. Panagora Asset Management Inc. now owns 35,441 shares of the company’s stock valued at $6,608,000 after purchasing an additional 8,767 shares during the last quarter. Main Street Financial Solutions LLC increased its stake in Hershey by 62.4% during the 4th quarter. Main Street Financial Solutions LLC now owns 2,582 shares of the company’s stock valued at $481,000 after buying an additional 992 shares during the period. shares in the last quarter. Finally, Norges Bank bought a new stake in Hershey during the fourth quarter valued at approximately $349,448,000. Institutional investors and hedge funds own 57.96% of the company’s shares.

Analysts set new price targets

Several brokerages have recently issued reports on HSY. Bank of America cut their price target on Hershey from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Sanford C. Bernstein decreased their price target on shares of Hershey from $237.00 to $230.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Barclays cut their price objective on shares of Hershey from $210.00 to $204.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 18th. Finally, Piper Sandler reissued a “neutral” rating and set a $179.00 target price on shares of Hershey in a research report on Friday, June 21st. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the stock. Hershey currently has a consensus rating of “Hold” and a consensus price target of $203.21, according to MarketBeat.com.

See the latest stock report on Hershey

Insider activity at Hershey

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total value 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. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. In other news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jennifer Mccalman sold 538 shares of the company’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 transaction 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 3,538 shares of company stock worth $667,793. 0.34% of shares are owned by company insiders.

Hershey’s price performance

NYSE HSY opened at $200.83 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.86, and a debt-to-equity ratio of 0.87. The company has a market cap of $40.63 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 5.77 and a beta of 0.37. The Hershey Company has a 52-week low of $178.82 and a 52-week high of $213.85. The company’s 50-day simple moving average is $195.11, and its two-hundred-day simple moving average is $193.69.

Hershey (NYSE:HSY – Get Your Free Report ) last announced its quarterly 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). Hershey had a net margin of 16.76% and a return on equity of 45.36%. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.30 billion. In the same quarter last year, the company posted earnings of $2.01 per share. The company’s quarterly revenue was down 16.7% compared to the same quarter last year. research analysts anticipate that The Hershey Company will post 9.5 earnings per share for the current year.

Hershey announces dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be given a $1.37 dividend. This represents an annualized dividend of $5.48 and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, August 16. Hershey’s dividend payout ratio (DPR) is currently 54.31%.

About Hershey

(Free Report)

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery and pantry products in the United States and internationally. The company operates through three segments: North American Confectionery, North American Savory Snacks and International. Offers chocolate and non-chocolate confectionery; gum and mint refreshments, including peppermints, chewing gum and chewing gum; protein bars; pantry items such as baking ingredients, toppings, drinks and sundae syrups; and snack items including spreads, bars, snacks, mixes, popcorn and pretzels.

See Also

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