Hershey Company (The) $HSY Shares Sold by Heartland Advisors Inc.

Key Points

• Heartland Advisors reduced its Hershey stake by 8.6% in the first quarter, selling 8,314 shares and leaving it with 88,864 shares worth about $18.47 million.
• Insider selling also occurred, with CFO Steven E. Voskuil selling 1,500 shares for roughly $260,145, trimming his position by 2.67%.
• Analysts remain cautious on HSY: the stock has a consensus rating of Hold with an average price target of $212.56, even after Hershey beat earnings and revenue expectations in its latest quarter.

Heartland Advisors Inc. trimmed its stake in Hershey Company (The) (NYSE:HSY - Free Report) by 8.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 88,864 shares of the company's stock after selling 8,314 shares during the quarter. Hershey makes up about 0.9% of Heartland Advisors Inc.'s investment portfolio, making the stock its 23rd largest holding. Heartland Advisors Inc.'s holdings in Hershey were worth $18,474,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Hershey by 6.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,310 shares of the company's stock valued at $2,618,000 after purchasing an additional 937 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Hershey by 20.2% in the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the company's stock valued at $116,000 after purchasing an additional 117 shares during the period. Gamco Investors INC. ET AL acquired a new stake in shares of Hershey in the second quarter valued at approximately $267,000. Bank of Nova Scotia raised its holdings in shares of Hershey by 4.5% during the second quarter. Bank of Nova Scotia now owns 17,927 shares of the company's stock valued at $2,975,000 after buying an additional 769 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Hershey by 5.4% during the second quarter. Daiwa Securities Group Inc. now owns 22,247 shares of the company's stock valued at $3,692,000 after buying an additional 1,149 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company's stock.

Insiders Place Their Bets

In other news, CFO Steven E. Voskuil sold 1,500 shares of the firm's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $173.43, for a total transaction of $260,145.00. Following the completion of the transaction, the chief financial officer owned 54,695 shares in the company, valued at approximately $9,485,753.85. This trade represents a 2.67% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on HSY shares. DA Davidson raised Hershey to a "hold" rating in a report on Monday, July 6th. The Goldman Sachs Group set a $240.00 target price on Hershey in a research note on Friday, May 1st. JPMorgan Chase & Co. reduced their price target on Hershey from $204.00 to $191.00 and set a "neutral" rating for the company in a research report on Monday, July 13th. Wells Fargo & Company decreased their price target on Hershey from $220.00 to $200.00 and set an "equal weight" rating for the company in a research note on Friday, May 1st. Finally, Jefferies Financial Group set a $190.00 price target on Hershey in a research note on Thursday. Seven equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Hershey currently has an average rating of "Hold" and an average target price of $212.56.

Hershey Stock Down 1.8%

HSY opened at $171.50 on Friday. Hershey Company has a one year low of $161.43 and a one year high of $239.48. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 1.24. The stock's fifty day moving average is $182.21 and its 200-day moving average is $197.13. The company has a market capitalization of $34.79 billion, a PE ratio of 31.94, a P/E/G ratio of 1.03 and a beta of 0.11.

Hershey (NYSE:HSY - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.31. Hershey had a return on equity of 28.98% and a net margin of 9.12%.The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same quarter in the prior year, the firm posted $2.09 earnings per share. The company's revenue was up 10.7% on a year-over-year basis. On average, equities analysts predict that Hershey Company will post 8.42 EPS for the current fiscal year.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were issued a $1.452 dividend. This represents a $5.81 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, May 15th. Hershey's dividend payout ratio is presently 108.19%.

Hershey Profile

The Hershey Company NYSE: HSY is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey's business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey's product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey's, Reese's, Hershey's Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.

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