The Hershey Company (NYSE:HSY) Shares Purchased by Econ Financial Services Corp

Econ Financial Services Corp boosted its position in shares of The Hershey Company (NYSE:HSY) by 299.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,678 shares of the company’s stock after buying an additional 5,007 shares during the quarter. Econ Financial Services Corp’s holdings in Hershey were worth $1,299,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HSY. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in Hershey by 7.7% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 754 shares of the company’s stock valued at $141,000 after acquiring an additional 54 shares during the period. 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 during the period. Sound View Wealth Advisors Group LLC increased its stake in shares of Hershey by 1.5% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 3,661 shares of the company’s stock worth $683,000 after purchasing an additional 55 shares in the last quarter. Great Valley Advisor Group Inc. raised its position in shares of Hershey by 1.0% during the 4th quarter. Great Valley Advisor Group Inc. now owns 5,839 shares of the company’s stock worth $1,089,000 after purchasing an additional 57 shares during the last quarter. Finally, Mount Lucas Management LP lifted its stake in Hershey by 0.6% in the 4th quarter. Mount Lucas Management LP now owns 9,619 shares of the company’s stock valued at $1,793,000 after buying an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Trading Down 0.5 %

Shares of HSY stock traded down $0.97 during trading on Monday, hitting $192.56. 2,097,576 shares of the stock traded hands, compared to its average volume of 1,852,161. The Hershey Company has a 52-week low of $178.82 and a 52-week high of $235.80. The firm has a market capitalization of $38.94 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 4.81 and a beta of 0.36. The firm’s fifty day moving average price is $190.27 and its 200-day moving average price is $192.56. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.97 and a quick ratio of 0.64.

Hershey (NYSE:HSY) last posted its earnings results on Friday, May 3rd. The company reported $3.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.33. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter last year, the firm earned $2.96 earnings per share. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. As a group, research analysts forecast that The Hershey Company will post 9.58 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 17th were given a $1.37 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $5.48 dividend on an annualized basis and a yield of 2.85%. Hershey’s payout ratio is currently 54.31%.

Analyst Ratings Changes

A number of brokerages have commented on HSY. Deutsche Bank Aktiengesellschaft reduced their target price on Hershey from $197.00 to $192.00 and set a “hold” rating for the company in a report on Tuesday, July 23rd. Citigroup reduced their price objective on Hershey from $204.00 to $188.00 and set a “neutral” rating for the company in a research note on Wednesday, July 17th. Edward Jones reaffirmed a “hold” rating on shares of Hershey in a research note on Friday, April 19th. Argus dropped their target price on shares of Hershey from $240.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Finally, Wells Fargo & Company decreased their price target on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Friday, June 21st. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $204.89.

Insiders Place Their Bets

In related news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $182.93, for a total value of $274,395.00. Following the completion of the sale, the chief financial officer now owns 35,728 shares in the company, valued at approximately $6,535,723.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 4,500 shares of company stock valued at $867,450 over the last 90 days. 0.34% of the stock is owned by company insiders.

About Hershey

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.