The Hershey Company (NYSE:HSY) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC lowered its holdings in shares of The Hershey Company (NYSE:HSY) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 711,075 shares of the company’s stock after selling 6,756 shares during the period. Hershey accounts for 1.8% of Confluence Investment Management LLC’s investment portfolio, making the stock its 18th largest holding. Confluence Investment Management LLC owned 0.35% of Hershey worth $136,370,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Principal Financial Group Inc. lifted its position in Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after acquiring an additional 389,404 shares during the period. Blake Schutter Theil Wealth Advisors LLC purchased a new stake in shares of Hershey during the third quarter worth approximately $284,000. Forte Capital LLC ADV lifted its holdings in shares of Hershey by 26.0% during the third quarter. Forte Capital LLC ADV now owns 3,074 shares of the company’s stock worth $590,000 after purchasing an additional 635 shares during the period. Concurrent Investment Advisors LLC grew its position in Hershey by 4.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 10,856 shares of the company’s stock valued at $2,082,000 after buying an additional 423 shares during the last quarter. Finally, Radnor Capital Management LLC acquired a new position in Hershey in the 3rd quarter valued at $293,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $199.17, for a total value of $107,153.46. Following the completion of the transaction, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

Hershey Trading Down 2.2 %

Shares of Hershey stock opened at $172.89 on Friday. The business has a 50 day moving average price of $189.89 and a 200 day moving average price of $192.34. The company has a market capitalization of $34.97 billion, a P/E ratio of 19.21, a P/E/G ratio of 4.14 and a beta of 0.38. 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 1 year low of $171.67 and a 1 year high of $211.92.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, November 7th. The company reported $2.34 earnings per share for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.16). The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.07 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. Sell-side analysts anticipate that The Hershey Company will post 9.39 EPS for the current fiscal year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.17%. Hershey’s dividend payout ratio (DPR) is presently 60.89%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft raised 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. Royal Bank of Canada reduced 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. Barclays dropped their target price on Hershey from $204.00 to $202.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 24th. Argus cut Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Finally, Citigroup lowered Hershey from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $195.00 to $182.00 in a report on Tuesday, August 27th. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $191.61.

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.