New York State Common Retirement Fund Lowers Position in The Hershey Company (NYSE:HSY)

New York State Common Retirement Fund trimmed its position in shares of The Hershey Company (NYSE:HSY) by 14.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 148,356 shares of the company’s stock after selling 25,500 shares during the quarter. New York State Common Retirement Fund owned 0.07% of Hershey worth $28,452,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in HSY. LPL Financial LLC grew its position in Hershey by 10.0% in the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock worth $58,951,000 after purchasing an additional 29,246 shares in the last quarter. CreativeOne Wealth LLC increased its position in shares of Hershey by 179.4% during the first quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock valued at $1,353,000 after acquiring an additional 4,468 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Hershey by 119.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,766 shares of the company’s stock worth $19,633,000 after acquiring an additional 50,014 shares during the period. SG Americas Securities LLC boosted its position in Hershey by 239.2% in the first quarter. SG Americas Securities LLC now owns 22,035 shares of the company’s stock worth $4,286,000 after purchasing an additional 15,538 shares during the last quarter. Finally, Sei Investments Co. grew its stake in Hershey by 2.2% in the 1st quarter. Sei Investments Co. now owns 54,540 shares of the company’s stock valued at $10,608,000 after purchasing an additional 1,168 shares during the period. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Up 0.9 %

Shares of NYSE:HSY opened at $179.26 on Monday. The firm has a fifty day moving average price of $190.76 and a two-hundred day moving average price of $192.53. The company has a market cap of $36.26 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 4.09 and a beta of 0.38. 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 Hershey Company has a one year low of $176.78 and a one year high of $211.92.

Hershey (NYSE:HSY) last posted its earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing the consensus estimate 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 in the previous year, the firm earned $2.01 earnings per share. Hershey’s quarterly revenue was down 16.7% compared to the same quarter last year. Analysts anticipate that The Hershey Company will post 9.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and dropped their target price for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Royal Bank of Canada decreased their price target on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. JPMorgan Chase & Co. reduced their price objective on Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Finally, Redburn Atlantic initiated coverage on Hershey in a research note on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price on the stock. Five investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $191.61.

Insider Activity

In related news, CAO Jennifer Mccalman sold 538 shares of the firm’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 value of $107,153.46. Following the sale, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at $644,912.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate 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.