CapWealth Advisors LLC Decreases Stake in The Hershey Company (NYSE:HSY)

CapWealth Advisors LLC lowered its position in shares of The Hershey Company (NYSE:HSY) by 0.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 62,828 shares of the company’s stock after selling 350 shares during the quarter. CapWealth Advisors LLC’s holdings in Hershey were worth $11,550,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of HSY. Vanguard Group Inc. lifted its holdings in Hershey by 14.2% during the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after acquiring an additional 2,158,912 shares during the period. Norges Bank bought a new stake in shares of Hershey during the 4th quarter worth $349,448,000. Confluence Investment Management LLC boosted its holdings in shares of Hershey by 297.9% in the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after buying an additional 537,419 shares during the last quarter. Bryn Mawr Capital Management LLC boosted its holdings in shares of 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 buying an additional 249,129 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in Hershey by 98.4% during the first quarter. Principal Financial Group Inc. now owns 419,947 shares of the company’s stock valued at $81,680,000 after buying an additional 208,293 shares during the period. 57.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Argus cut shares of Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Sanford C. Bernstein reduced their price objective on Hershey from $237.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Barclays lowered their target price on Hershey from $210.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 18th. Piper Sandler reiterated a “neutral” rating and set a $179.00 price target on shares of Hershey in a research note on Friday, June 21st. Finally, 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. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Hershey currently has an average rating of “Hold” and a consensus price target of $202.79.

Hershey Stock Performance

NYSE HSY opened at $198.10 on Friday. The company’s 50 day simple moving average is $193.08 and its two-hundred day simple moving average is $193.29. 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 $178.82 and a 1 year high of $213.85. The stock has a market capitalization of $40.06 billion, a PE ratio of 19.63, a P/E/G ratio of 5.60 and a beta of 0.36.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. The company’s quarterly revenue was down 16.7% on a year-over-year basis. During the same quarter last year, the business posted $2.01 EPS. Analysts predict that The Hershey Company will post 9.5 earnings per share for the current fiscal year.

Hershey Announces Dividend

The firm 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 dividend of $1.37 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.77%. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

Insider Transactions at Hershey

In related news, CAO Jennifer Mccalman sold 538 shares of the firm’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 sale, 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. In related news, CAO Jennifer Mccalman sold 538 shares of the 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 transaction, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at $644,912.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $182.93, for a total value of $274,395.00. Following the sale, the chief financial officer now owns 35,728 shares in the company, valued at approximately $6,535,723.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,538 shares of company stock valued at $667,793. 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.