Concurrent Investment Advisors LLC Sells 4,326 Shares of Hershey Company (The) (NYSE:HSY)

Concurrent Investment Advisors LLC cut its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 46.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,007 shares of the company's stock after selling 4,326 shares during the period. Concurrent Investment Advisors LLC's holdings in Hershey were worth $856,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kennon Green & Company LLC grew its position in Hershey by 33.3% in the 1st quarter. Kennon Green & Company LLC now owns 43,146 shares of the company's stock worth $7,379,000 after purchasing an additional 10,784 shares in the last quarter. IFM Investors Pty Ltd grew its position in Hershey by 9.5% in the 1st quarter. IFM Investors Pty Ltd now owns 31,925 shares of the company's stock worth $5,460,000 after purchasing an additional 2,757 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Hershey by 8.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,625 shares of the company's stock worth $3,186,000 after purchasing an additional 1,390 shares in the last quarter. Vontobel Holding Ltd. grew its position in Hershey by 8.1% in the 1st quarter. Vontobel Holding Ltd. now owns 21,151 shares of the company's stock worth $3,617,000 after purchasing an additional 1,582 shares in the last quarter. Finally, Elevate Capital Advisors LLC grew its position in Hershey by 23.2% in the 1st quarter. Elevate Capital Advisors LLC now owns 14,105 shares of the company's stock worth $2,412,000 after purchasing an additional 2,657 shares in the last quarter. 57.96% of the stock is owned by institutional investors.

Insider Activity

In other Hershey news, SVP James Turoff sold 1,300 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $175.00, for a total value of $227,500.00. Following the sale, the senior vice president directly owned 25,321 shares in the company, valued at $4,431,175. This represents a 4.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jennifer Mccalman sold 974 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total transaction of $153,025.14. Following the completion of the sale, the chief accounting officer owned 2,994 shares in the company, valued at $470,387.34. This represents a 24.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,107 shares of company stock valued at $9,008,118. 0.34% of the stock is owned by company insiders.

Hershey Stock Performance

Shares of HSY stock traded up $0.18 during trading on Friday, reaching $164.82. 1,080,547 shares of the company's stock traded hands, compared to its average volume of 1,806,630. The company has a market capitalization of $33.39 billion, a P/E ratio of 20.32, a PEG ratio of 6.08 and a beta of 0.30. 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's 50-day moving average is $165.64 and its 200 day moving average is $164.76. Hershey Company has a 1 year low of $140.13 and a 1 year high of $208.03.

Hershey (NYSE:HSY - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.15. Hershey had a net margin of 15.32% and a return on equity of 38.70%. The company had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.81 billion. During the same period in the prior year, the company posted $3.07 EPS. Hershey's revenue was down 13.8% compared to the same quarter last year. Equities research analysts expect that Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 16th were paid a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.32%. The ex-dividend date was Friday, May 16th. Hershey's dividend payout ratio is presently 67.57%.

Wall Street Analyst Weigh In

HSY has been the subject of a number of recent analyst reports. DA Davidson upped their price objective on shares of Hershey from $162.00 to $163.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Citigroup reduced their price objective on shares of Hershey from $173.00 to $165.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Mizuho reduced their target price on shares of Hershey from $167.00 to $155.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Sanford C. Bernstein increased their target price on shares of Hershey from $147.00 to $155.00 and gave the company a "market perform" rating in a research report on Friday, May 2nd. Finally, Barclays increased their target price on shares of Hershey from $160.00 to $165.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Six analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $158.84.

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.