Absher Wealth Management LLC Has $3.15 Million Stock Position in The Hershey Company (NYSE:HSY)

Absher Wealth Management LLC boosted its holdings in The Hershey Company (NYSE:HSY) by 36.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,136 shares of the company’s stock after buying an additional 4,621 shares during the period. Hershey makes up about 0.4% of Absher Wealth Management LLC’s investment portfolio, making the stock its 28th largest position. Absher Wealth Management LLC’s holdings in Hershey were worth $3,150,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in Hershey by 1.6% during the fourth quarter. Victory Capital Management Inc. now owns 121,193 shares of the company’s stock valued at $22,595,000 after acquiring an additional 1,921 shares during the period. Fisher Asset Management LLC increased its position in shares of Hershey by 67.3% during the fourth quarter. Fisher Asset Management LLC now owns 2,202 shares of the company’s stock valued at $411,000 after purchasing an additional 886 shares during the period. Merit Financial Group LLC acquired a new position in shares of Hershey in the fourth quarter valued at $720,000. Private Advisor Group LLC lifted its position in Hershey by 26.3% in the fourth quarter. Private Advisor Group LLC now owns 18,080 shares of the company’s stock worth $3,371,000 after purchasing an additional 3,769 shares during the period. Finally, Maryland State Retirement & Pension System boosted its stake in Hershey by 3.7% during the fourth quarter. Maryland State Retirement & Pension System now owns 11,665 shares of the company’s stock worth $2,175,000 after buying an additional 416 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group began coverage on shares of Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price objective for the company. Sanford C. Bernstein decreased their price objective on Hershey from $237.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Piper Sandler reissued a “neutral” rating and issued a $179.00 target price on shares of Hershey in a report on Friday, June 21st. JPMorgan Chase & Co. boosted their price target on Hershey from $183.00 to $188.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada lowered their price target on Hershey from $209.00 to $205.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $202.79.

Hershey Price Performance

HSY opened at $197.32 on Wednesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48. The stock has a market capitalization of $39.90 billion, a P/E ratio of 19.56, a price-to-earnings-growth ratio of 5.60 and a beta of 0.36. The company’s 50 day simple moving average is $192.48 and its 200-day simple moving average is $193.22. The Hershey Company has a one year low of $178.82 and a one year high of $214.66.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). The firm had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. The firm’s quarterly revenue was down 16.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.01 earnings per share. Sell-side analysts anticipate that The Hershey Company will post 9.5 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be given a dividend of $1.37 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $5.48 dividend on an annualized basis and a yield of 2.78%. Hershey’s payout ratio is presently 54.31%.

Insider Buying and Selling at Hershey

In related news, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the completion of the sale, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at $644,912.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $199.17, for a total value of $107,153.46. Following the transaction, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total value of $286,245.00. Following the sale, the chief financial officer now directly owns 34,228 shares of the company’s stock, valued at $6,531,729.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,538 shares of company stock worth $667,793. Company insiders own 0.34% of the company’s stock.

Hershey Company 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.