Deerfield Management Company L.P. Series C Makes New $925,000 Investment in The Hershey Company (NYSE:HSY)

Deerfield Management Company L.P. Series C purchased a new stake in shares of The Hershey Company (NYSE:HSY - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 5,032 shares of the company's stock, valued at approximately $925,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital Advisors Ltd. LLC grew its holdings in Hershey by 218.2% in the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company's stock worth $26,000 after purchasing an additional 96 shares during the period. GHP Investment Advisors Inc. grew its holdings in Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company's stock worth $28,000 after purchasing an additional 55 shares during the period. Riverview Trust Co purchased a new stake in Hershey in the first quarter worth about $29,000. OFI Invest Asset Management purchased a new stake in Hershey in the second quarter worth about $29,000. Finally, Quarry LP purchased a new stake in Hershey in the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Stock Performance

Hershey stock traded up $2.53 during midday trading on Friday, reaching $193.05. 149,417 shares of the company traded hands, compared to its average volume of 1,725,642. 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 12 month low of $178.82 and a 12 month high of $211.92. The firm has a market capitalization of $39.04 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 5.67 and a beta of 0.37. The business has a 50 day moving average of $196.37 and a two-hundred day moving average of $194.04.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings results 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). Hershey had a return on equity of 45.36% and a net margin of 16.76%. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the previous year, the business posted $2.01 earnings per share. The firm's revenue was down 16.7% on a year-over-year basis. As a group, research analysts predict that The Hershey Company will post 9.49 earnings per share for the current year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were given a dividend of $1.37 per share. The ex-dividend date was Friday, August 16th. This represents a $5.48 annualized dividend and a dividend yield of 2.84%. Hershey's payout ratio is 54.31%.

Insider Activity

In other news, CAO Jennifer Mccalman sold 538 shares of the firm's stock in a transaction 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 sale, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Jennifer Mccalman sold 538 shares of the business'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 sale, the chief accounting officer now owns 3,238 shares of the company's stock, valued at approximately $644,912.46. The disclosure for this sale can be found here. Insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HSY. Royal Bank of Canada cut their price objective on shares of Hershey from $209.00 to $205.00 and set a "sector perform" rating on the stock in a report on Friday, August 2nd. Wells Fargo & Company cut their price target on shares of Hershey from $205.00 to $195.00 and set an "equal weight" rating on the stock in a report on Friday, June 21st. Bank of America cut their price target on shares of Hershey from $210.00 to $200.00 and set a "neutral" rating on the stock in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Hershey from $191.00 to $199.00 and gave the company a "hold" rating in a report on Tuesday, September 10th. Finally, Jefferies Financial Group cut shares of Hershey from a "hold" rating to an "underperform" rating and cut their price target for the company from $184.00 to $163.00 in a report on Thursday. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $198.63.

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.