Absher Wealth Management LLC Acquires 900 Shares of The Hershey Company (NYSE:HSY)

Absher Wealth Management LLC lifted its holdings in shares of The Hershey Company (NYSE:HSY) by 5.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,036 shares of the company’s stock after buying an additional 900 shares during the quarter. Hershey comprises approximately 0.4% of Absher Wealth Management LLC’s investment portfolio, making the stock its 29th biggest holding. Absher Wealth Management LLC’s holdings in Hershey were worth $3,459,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Capital Advisors Ltd. LLC lifted its stake in shares of Hershey by 218.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares during the period. GHP Investment Advisors Inc. grew its position in shares of Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after buying an additional 55 shares during the period. OFI Invest Asset Management bought a new stake in shares of Hershey in the 2nd quarter valued at about $29,000. Crewe Advisors LLC acquired a new stake in shares of Hershey in the 1st quarter valued at approximately $35,000. Finally, Future Financial Wealth Managment LLC bought a new position in Hershey during the 3rd quarter worth approximately $48,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Jennifer Mccalman sold 538 shares of the business’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 completion of the sale, the chief accounting officer now directly owns 3,238 shares in the company, valued at $644,912.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HSY shares. Redburn Atlantic began coverage on shares of Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price on the stock. The Goldman Sachs Group assumed coverage on Hershey in a report on Monday, August 12th. They set a “sell” rating and a $185.00 target price on the stock. UBS Group downgraded Hershey from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $226.00 to $209.00 in a report on Monday, October 7th. Barclays cut their price objective on Hershey from $204.00 to $202.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 24th. Finally, Stifel Nicolaus lowered their target price on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Five equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to MarketBeat.com, Hershey has a consensus rating of “Hold” and an average target price of $191.61.

Hershey Stock Performance

NYSE HSY traded down $0.10 during trading on Friday, reaching $177.48. 90,169 shares of the company’s stock were exchanged, compared to its average volume of 1,662,620. The Hershey Company has a fifty-two week low of $176.78 and a fifty-two week high of $211.92. The stock has a market capitalization of $35.90 billion, a P/E ratio of 19.73, a PEG ratio of 4.09 and a beta of 0.37. The business has a 50 day moving average price of $191.10 and a 200-day moving average price of $192.42. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). Hershey had a net margin of 16.76% and a return on equity of 45.36%. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the company posted $2.01 EPS. The firm’s revenue was down 16.7% on a year-over-year basis. Sell-side analysts forecast that The Hershey Company will post 9.42 earnings per share for the current fiscal year.

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.