Smart Money Group LLC Boosts Stock Position in Hershey Company (The) (NYSE:HSY)

Smart Money Group LLC raised its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 63.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,052 shares of the company's stock after buying an additional 1,576 shares during the quarter. Smart Money Group LLC's holdings in Hershey were worth $693,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of HSY. Ethos Financial Group LLC raised its position in Hershey by 59.8% during the 4th quarter. Ethos Financial Group LLC now owns 3,962 shares of the company's stock valued at $671,000 after purchasing an additional 1,483 shares during the last quarter. Kennon Green & Company LLC grew its holdings in shares of Hershey by 33.3% during the 1st quarter. Kennon Green & Company LLC now owns 43,146 shares of the company's stock worth $7,379,000 after acquiring an additional 10,784 shares during the period. Envestnet Portfolio Solutions Inc. grew its holdings in shares of Hershey by 8.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,625 shares of the company's stock worth $3,186,000 after acquiring an additional 1,390 shares during the period. Global View Capital Management LLC purchased a new position in shares of Hershey during the 4th quarter worth approximately $253,000. Finally, Heartland Bank & Trust Co purchased a new position in shares of Hershey during the 1st quarter worth approximately $366,000. Institutional investors own 57.96% of the company's stock.

Wall Street Analysts Forecast Growth

HSY has been the topic of several recent analyst reports. Royal Bank Of Canada cut 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. DA Davidson increased their target price on Hershey from $162.00 to $163.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Wall Street Zen upgraded Hershey from a "sell" rating to a "hold" rating in a research note on Saturday, June 28th. Sanford C. Bernstein increased their target price on Hershey from $147.00 to $155.00 and gave the company a "market perform" rating in a research note on Friday, May 2nd. Finally, Wells Fargo & Company increased their price target on Hershey from $125.00 to $132.00 and gave the company an "underweight" rating in a report on Friday, March 14th. Five investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $158.84.

Insider Buying and Selling

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

Hershey Stock Performance

Shares of HSY traded down $4.08 during trading hours on Friday, reaching $173.00. 733,761 shares of the company traded hands, compared to its average volume of 1,793,894. The stock has a market capitalization of $35.05 billion, a P/E ratio of 21.33, a P/E/G ratio of 6.54 and a beta of 0.30. The company has a quick ratio of 1.11, a current ratio of 1.59 and a debt-to-equity ratio of 1.11. Hershey Company has a 12-month low of $140.13 and a 12-month high of $208.03. The business has a fifty day moving average price of $165.22 and a 200-day moving average price of $164.89.

Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.09 EPS for the quarter, beating the consensus estimate 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 net margin of 15.32% and a return on equity of 38.70%. The firm's revenue was down 13.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.07 earnings per share. Equities analysts anticipate that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 16th were issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.17%. The ex-dividend date was Friday, May 16th. Hershey's dividend payout ratio (DPR) is 67.57%.

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.