Gries Financial LLC Takes Position in Hershey Company (The) (NYSE:HSY)

Gries Financial LLC bought a new stake in Hershey Company (The) (NYSE:HSY - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,776 shares of the company's stock, valued at approximately $1,330,000.

Other institutional investors have also added to or reduced their stakes in the company. Kennon Green & Company LLC lifted its stake in Hershey by 33.3% in the first quarter. Kennon Green & Company LLC now owns 43,146 shares of the company's stock valued at $7,379,000 after buying an additional 10,784 shares during the period. William Allan Corp lifted its stake in Hershey by 173.1% in the first quarter. William Allan Corp now owns 18,593 shares of the company's stock valued at $3,180,000 after buying an additional 11,785 shares during the period. IFM Investors Pty Ltd lifted its stake in Hershey by 9.5% in the first quarter. IFM Investors Pty Ltd now owns 31,925 shares of the company's stock valued at $5,460,000 after buying an additional 2,757 shares during the period. Envestnet Portfolio Solutions Inc. lifted its stake in Hershey by 8.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,625 shares of the company's stock valued at $3,186,000 after buying an additional 1,390 shares during the period. Finally, Vontobel Holding Ltd. raised its position in shares of Hershey by 8.1% during the first 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 during the period. 57.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Mizuho lowered their price target on Hershey from $167.00 to $155.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Morgan Stanley lowered their price target on Hershey from $183.00 to $177.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Citigroup lowered their price target on Hershey from $173.00 to $165.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Wall Street Zen lowered Hershey from a "hold" rating to a "sell" rating in a research report on Sunday, July 6th. Finally, UBS Group reduced their price objective on Hershey from $175.00 to $170.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Six research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $158.84.

Hershey Stock Performance

Shares of HSY traded up $5.48 during trading hours on Monday, hitting $176.77. The stock had a trading volume of 3,328,511 shares, compared to its average volume of 1,817,944. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.59 and a quick ratio of 1.11. Hershey Company has a 12 month low of $140.13 and a 12 month high of $208.03. The firm has a market capitalization of $35.81 billion, a PE ratio of 20.42, a PEG ratio of 6.40 and a beta of 0.30. The stock has a fifty day moving average price of $165.40 and a 200 day moving average price of $164.59.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.15. Hershey had a return on equity of 38.70% and a net margin of 15.32%. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the company posted $3.07 earnings per share. Hershey's revenue for the quarter was down 13.8% on a year-over-year basis. Analysts anticipate that Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 16th were paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Friday, May 16th. Hershey's dividend payout ratio (DPR) is 67.57%.

Insiders Place Their Bets

In other news, insider Rohit Grover sold 1,333 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $175.00, for a total value of $233,275.00. Following the completion of the transaction, the insider owned 39,402 shares of the company's stock, valued at $6,895,350. This represents a 3.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Jennifer Mccalman sold 974 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value 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. In the last ninety days, insiders sold 54,107 shares of company stock worth $9,008,118. 0.28% 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.