Cetera Investment Advisers Raises Holdings in Hershey Company (The) (NYSE:HSY)

Cetera Investment Advisers increased its position in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 7.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 76,391 shares of the company's stock after buying an additional 5,041 shares during the quarter. Cetera Investment Advisers' holdings in Hershey were worth $13,065,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Montag & Caldwell LLC purchased a new stake in Hershey in the 4th quarter valued at $25,000. Putney Financial Group LLC purchased a new stake in shares of Hershey in the fourth quarter valued at about $25,000. Mpwm Advisory Solutions LLC bought a new position in shares of Hershey during the fourth quarter valued at about $28,000. Proffitt & Goodson Inc. purchased a new position in Hershey during the first quarter worth about $28,000. Finally, Tradewinds Capital Management LLC grew its position in Hershey by 129.5% in the 1st quarter. Tradewinds Capital Management LLC now owns 179 shares of the company's stock worth $31,000 after purchasing an additional 101 shares in the last quarter. Institutional investors own 57.96% of the company's stock.

Hershey Price Performance

Shares of HSY stock traded up $2.56 during trading hours on Wednesday, reaching $188.79. The stock had a trading volume of 3,008,985 shares, compared to its average volume of 1,733,619. Hershey Company has a 12 month low of $140.13 and a 12 month high of $208.03. The stock's fifty day simple moving average is $168.53 and its 200 day simple moving average is $165.52. The company has a current ratio of 1.59, a quick ratio of 1.11 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $38.25 billion, a PE ratio of 23.28, a PEG ratio of 4.61 and a beta of 0.30.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.21 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.23. Hershey had a net margin of 15.32% and a return on equity of 38.70%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the prior year, the firm earned $1.27 EPS. The business's revenue for the quarter was up 26.0% compared to the same quarter last year. On average, equities research analysts predict that Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.90%. Hershey's payout ratio is currently 67.57%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on HSY shares. Stifel Nicolaus boosted their target price on Hershey from $160.00 to $180.00 and gave the stock a "hold" rating in a research note on Tuesday. Citigroup dropped their price target on Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Piper Sandler upped their price objective on Hershey from $120.00 to $145.00 and gave the company an "underweight" rating in a research note on Wednesday, July 23rd. Royal Bank Of Canada lowered their target price on Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Finally, Mizuho increased their price target on shares of Hershey from $155.00 to $165.00 and gave the company a "neutral" rating in a research report on Monday. Six investment analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $161.74.

Insider Activity

In other Hershey news, CFO Steven E. Voskuil sold 5,000 shares of the company's stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $180.00, for a total value of $900,000.00. Following the completion of the sale, the chief financial officer owned 61,319 shares of the company's stock, valued at $11,037,420. This represents a 7.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer Mccalman sold 974 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $157.11, for a total transaction of $153,025.14. Following the transaction, the chief accounting officer owned 2,994 shares in the company, valued at $470,387.34. The trade was a 24.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 99,021 shares of company stock worth $17,189,088. 0.34% of the stock is currently owned by 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.