Sequoia Financial Advisors LLC Sells 779 Shares of The Hershey Company (NYSE:HSY)

Sequoia Financial Advisors LLC trimmed its position in The Hershey Company (NYSE:HSY) by 16.4% in the 3rd quarter, Holdings Channel reports. The firm owned 3,958 shares of the company’s stock after selling 779 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Hershey were worth $759,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. GHP Investment Advisors Inc. boosted its stake in Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after buying an additional 55 shares during the period. Burns J W & Co. Inc. NY grew its holdings in shares of Hershey by 0.8% during the third quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock worth $1,411,000 after purchasing an additional 58 shares in the last quarter. Wesbanco Bank Inc. increased its position in shares of Hershey by 3.7% in the second quarter. Wesbanco Bank Inc. now owns 1,673 shares of the company’s stock worth $308,000 after purchasing an additional 59 shares during the last quarter. Brighton Jones LLC raised its stake in Hershey by 2.3% in the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock valued at $484,000 after purchasing an additional 59 shares in the last quarter. Finally, Rehmann Capital Advisory Group lifted its position in Hershey by 5.4% during the first quarter. Rehmann Capital Advisory Group now owns 1,165 shares of the company’s stock valued at $227,000 after purchasing an additional 60 shares during the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on HSY shares. The Goldman Sachs Group began coverage on shares of Hershey in a research report on Monday, August 12th. They set a “sell” rating and a $185.00 price objective on the stock. Argus downgraded Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Barclays cut their price objective on Hershey from $204.00 to $202.00 and set an “equal weight” rating for the company in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft boosted their target price on Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Finally, UBS Group lowered Hershey from a “buy” rating to a “neutral” rating and cut their target price for the stock from $226.00 to $209.00 in a research note on Monday, October 7th. Five equities research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $191.55.

Insider Buying and Selling

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $199.17, for a total transaction of $107,153.46. Following the transaction, the chief accounting officer now owns 3,238 shares in the company, valued at approximately $644,912.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is owned by insiders.

Hershey Stock Down 0.5 %

Shares of NYSE:HSY opened at $181.26 on Friday. The Hershey Company has a 1 year low of $178.82 and a 1 year high of $211.92. 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’s 50-day moving average is $192.50 and its 200 day moving average is $192.72. The company has a market cap of $36.67 billion, a PE ratio of 20.14, a P/E/G ratio of 4.22 and a beta of 0.37.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). The business had revenue of $2.07 billion for 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%. Hershey’s revenue was down 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.01 EPS. Sell-side analysts anticipate that The Hershey Company will post 9.45 EPS for the current year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Friday, August 16th. Hershey’s dividend payout ratio is currently 60.89%.

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.