NewEdge Advisors LLC Reduces Stake in The Hershey Company (NYSE:HSY)

NewEdge Advisors LLC lowered its stake in shares of The Hershey Company (NYSE:HSY - Free Report) by 48.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,515 shares of the company's stock after selling 6,032 shares during the period. NewEdge Advisors LLC's holdings in Hershey were worth $1,198,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Raleigh Capital Management Inc. boosted its stake in Hershey by 20.6% during the 4th quarter. Raleigh Capital Management Inc. now owns 316 shares of the company's stock valued at $59,000 after purchasing an additional 54 shares during the last quarter. GHP Investment Advisors Inc. raised its holdings in shares of Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company's stock valued at $28,000 after purchasing an additional 55 shares during the last quarter. Sound Income Strategies LLC lifted its position in shares of Hershey by 13.3% during the first quarter. Sound Income Strategies LLC now owns 486 shares of the company's stock valued at $95,000 after purchasing an additional 57 shares in the last quarter. Wesbanco Bank Inc. grew its position in Hershey by 3.7% in the 2nd quarter. Wesbanco Bank Inc. now owns 1,673 shares of the company's stock worth $308,000 after purchasing an additional 59 shares in the last quarter. Finally, Brighton Jones LLC increased its stake in Hershey by 2.3% in the 2nd quarter. Brighton Jones LLC now owns 2,631 shares of the company's stock valued at $484,000 after buying an additional 59 shares during the last quarter. Institutional investors own 57.96% of the company's stock.

Hershey Price Performance

HSY stock traded down $4.26 during midday trading on Monday, reaching $187.58. The company had a trading volume of 1,192,653 shares, compared to its average volume of 1,711,677. The firm has a 50-day moving average price of $196.42 and a 200-day moving average price of $193.79. 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 company has a market capitalization of $37.93 billion, a P/E ratio of 18.60, a P/E/G ratio of 5.67 and a beta of 0.37. The Hershey Company has a 1 year low of $178.82 and a 1 year high of $211.92.

Hershey (NYSE:HSY - Get Free Report) last released its 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). The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. The firm's revenue was down 16.7% compared to the same quarter last year. During the same period in the prior year, the company earned $2.01 EPS. On average, research analysts anticipate that The Hershey Company will post 9.49 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were issued 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 2.92%. Hershey's payout ratio is 54.31%.

Wall Street Analysts Forecast Growth

HSY has been the topic of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on Hershey from $183.00 to $188.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. Citigroup cut Hershey from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $195.00 to $182.00 in a research note on Tuesday, August 27th. Royal Bank of Canada decreased their price objective on shares of Hershey from $209.00 to $205.00 and set a "sector perform" rating for the company in a report on Friday, August 2nd. The Goldman Sachs Group started coverage on shares of Hershey in a research report on Monday, August 12th. They set a "sell" rating and a $185.00 target price for the company. Finally, Argus downgraded Hershey from a "buy" rating to a "hold" rating in a research report on Wednesday, August 14th. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $197.90.

Insider Activity

In other news, CAO Jennifer Mccalman sold 538 shares of the business's stock in a transaction dated 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 sale, the chief accounting officer now owns 3,238 shares of the company's stock, valued at approximately $644,912.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CAO Jennifer Mccalman sold 538 shares of the stock in a transaction dated Monday, August 12th. The shares were 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 of the company's stock, valued at $644,912.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction that occurred on 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 in the company, valued at approximately $6,531,729.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

Hershey Company 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.