The Hershey Company (NYSE:HSY) Shares Bought by Confluence Investment Management LLC

Confluence Investment Management LLC increased its position in The Hershey Company (NYSE:HSY - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 699,426 shares of the company's stock after purchasing an additional 17,397 shares during the quarter. Hershey makes up 1.7% of Confluence Investment Management LLC's portfolio, making the stock its 20th largest holding. Confluence Investment Management LLC owned approximately 0.35% of Hershey worth $119,623,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HSY. Montag & Caldwell LLC bought a new position in shares of Hershey during the 4th quarter valued at about $25,000. Putney Financial Group LLC acquired a new stake in shares of Hershey in the fourth quarter valued at about $25,000. Crowley Wealth Management Inc. bought a new stake in shares of Hershey during the 4th quarter valued at about $28,000. Mpwm Advisory Solutions LLC bought a new position in Hershey in the fourth quarter worth approximately $28,000. Finally, Vision Financial Markets LLC purchased a new position in shares of Hershey during the fourth quarter valued at approximately $29,000. 57.96% of the stock is owned by institutional investors.

Insider Activity at Hershey

In other news, CAO Jennifer Mccalman sold 974 shares of the business's 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 transaction, the chief accounting officer now directly owns 2,994 shares in the company, valued at approximately $470,387.34. The trade was a 24.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.34% of the stock is owned by corporate insiders.

Hershey Stock Performance

HSY stock traded up $0.22 during trading on Monday, hitting $160.91. The company had a trading volume of 358,476 shares, compared to its average volume of 1,778,585. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $208.03. The firm has a 50-day moving average price of $163.95 and a 200-day moving average price of $166.15. The firm has a market cap of $32.60 billion, a PE ratio of 14.75, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.94 by $0.15. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.81 billion. Hershey had a return on equity of 44.77% and a net margin of 19.83%. The business's revenue for the quarter was down 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.07 EPS. On average, analysts expect that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 16th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.41%. The ex-dividend date is Friday, May 16th. Hershey's dividend payout ratio is currently 67.57%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Stifel Nicolaus reduced their price target on Hershey from $170.00 to $160.00 and set a "hold" rating for the company in a research report on Friday, February 7th. Barclays increased their target price on Hershey from $160.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. DA Davidson raised their price target on Hershey from $162.00 to $163.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Royal Bank of Canada lowered their price objective on Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Finally, Morgan Stanley reduced their price objective on Hershey from $183.00 to $177.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Five equities research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price 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.