Virtu Financial LLC Has $1.42 Million Stock Position in The Hershey Company (NYSE:HSY)

Virtu Financial LLC lessened its stake in shares of The Hershey Company (NYSE:HSY) by 31.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,737 shares of the company’s stock after selling 3,585 shares during the period. Virtu Financial LLC’s holdings in Hershey were worth $1,422,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Capital Advisors Ltd. LLC raised its holdings in shares of Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after acquiring an additional 96 shares during the period. GHP Investment Advisors Inc. grew its position in Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares in the last quarter. Riverview Trust Co acquired a new stake in Hershey during the 1st quarter valued at $29,000. OFI Invest Asset Management purchased a new stake in shares of Hershey in the second quarter valued at $29,000. Finally, Quarry LP acquired a new stake in shares of Hershey in the fourth quarter worth $34,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HSY has been the topic of several recent analyst reports. Sanford C. Bernstein dropped their price target on Hershey from $237.00 to $230.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 17th. Bank of America reduced their price target on shares of Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Argus downgraded shares of Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. JPMorgan Chase & Co. increased their target price 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, Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and lowered their price target for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $203.21.

Hershey Price Performance

NYSE HSY opened at $199.28 on Wednesday. The stock has a 50-day simple moving average of $195.76 and a 200 day simple moving average of $193.91. The Hershey Company has a twelve month low of $178.82 and a twelve month high of $213.72. The stock has a market capitalization of $40.30 billion, a PE ratio of 19.75, a P/E/G 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.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.27 earnings per share 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 company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period last year, the company earned $2.01 earnings per share. Hershey’s revenue for the quarter was down 16.7% on a year-over-year basis. Research analysts anticipate that The Hershey Company will post 9.5 EPS for the current year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were given a $1.37 dividend. The ex-dividend date was Friday, August 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.75%. Hershey’s dividend payout ratio is currently 54.31%.

Insider Transactions at Hershey

In other news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were 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 directly owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Hershey 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 transaction 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 $644,912.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total transaction of $286,245.00. Following the completion of the sale, the chief financial officer now owns 34,228 shares in the company, valued at approximately $6,531,729.24. The disclosure for this sale can be found here. In the last quarter, insiders have 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.