Parallel Advisors LLC Decreases Stake in The Hershey Company (NYSE:HSY)

Parallel Advisors LLC lessened its holdings in shares of The Hershey Company (NYSE:HSY) by 4.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,443 shares of the company’s stock after selling 208 shares during the period. Parallel Advisors LLC’s holdings in Hershey were worth $817,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Raleigh Capital Management Inc. grew its position in shares of Hershey by 20.6% in the fourth quarter. Raleigh Capital Management Inc. now owns 316 shares of the company’s stock valued at $59,000 after purchasing an additional 54 shares in the last quarter. GHP Investment Advisors Inc. grew its holdings in Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after buying an additional 55 shares in the last quarter. Sound Income Strategies LLC grew its holdings in Hershey by 13.3% in the 1st quarter. Sound Income Strategies LLC now owns 486 shares of the company’s stock valued at $95,000 after buying an additional 57 shares in the last quarter. Wesbanco Bank Inc. increased its stake in shares of Hershey by 3.7% in the 2nd quarter. Wesbanco Bank Inc. now owns 1,673 shares of the company’s stock worth $308,000 after acquiring an additional 59 shares during the last quarter. Finally, Integrated Advisors Network LLC raised its holdings in shares of Hershey by 3.5% during the 4th quarter. Integrated Advisors Network LLC now owns 1,794 shares of the company’s stock worth $334,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Insider Transactions at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $182.93, for a total value of $274,395.00. Following the transaction, the chief financial officer now owns 35,728 shares in the company, valued at approximately $6,535,723.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $199.17, for a total value of $107,153.46. Following the completion of the sale, the chief accounting officer now owns 3,238 shares in the company, valued at approximately $644,912.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $182.93, for a total transaction of $274,395.00. Following the transaction, the chief financial officer now owns 35,728 shares in the company, valued at $6,535,723.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,538 shares of company stock worth $667,793. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Sanford C. Bernstein dropped their target price on shares of Hershey from $237.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Argus lowered Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Royal Bank of Canada reduced their target price on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Wells Fargo & Company lowered their price target on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Friday, June 21st. Finally, The Goldman Sachs Group started coverage on shares of Hershey in a report on Monday, August 12th. They issued a “sell” rating and a $185.00 price objective on the stock. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $203.21.

Hershey Trading Down 0.0 %

NYSE:HSY opened at $200.81 on Tuesday. The company has a market capitalization of $40.61 billion, a PE ratio of 19.90, a P/E/G ratio of 5.77 and a beta of 0.37. The Hershey Company has a 52-week low of $178.82 and a 52-week high of $213.72. The stock’s 50 day moving average price is $195.43 and its 200 day moving average price is $193.83. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87.

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

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were issued a $1.37 dividend. The ex-dividend date was Friday, August 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.73%. Hershey’s payout ratio is 54.31%.

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.