Opal Capital LLC raised its stake in shares of Hershey Company (The) (NYSE:HSY – Free Report) by 38.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 42,634 shares of the company’s stock after purchasing an additional 11,886 shares during the period. Hershey accounts for 1.6% of Opal Capital LLC’s holdings, making the stock its 15th biggest position. Opal Capital LLC’s holdings in Hershey were worth $8,863,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Amundi grew its stake in shares of Hershey by 37.6% during the 1st quarter. Amundi now owns 853,537 shares of the company’s stock valued at $177,442,000 after acquiring an additional 233,045 shares during the period. Adalta Capital Management LLC lifted its holdings in Hershey by 27.7% during the first quarter. Adalta Capital Management LLC now owns 4,126 shares of the company’s stock valued at $858,000 after purchasing an additional 895 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Hershey by 24.7% in the first quarter. EverSource Wealth Advisors LLC now owns 469 shares of the company’s stock worth $97,000 after purchasing an additional 93 shares during the period. Empire Financial Management Company LLC boosted its position in shares of Hershey by 3.2% in the first quarter. Empire Financial Management Company LLC now owns 16,540 shares of the company’s stock worth $3,439,000 after purchasing an additional 514 shares during the period. Finally, Empowered Funds LLC increased its stake in shares of Hershey by 29.8% in the first quarter. Empowered Funds LLC now owns 33,268 shares of the company’s stock worth $6,916,000 after purchasing an additional 7,634 shares in the last quarter. Institutional investors own 57.96% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently commented on the stock. The Goldman Sachs Group set a $240.00 price objective on shares of Hershey in a research report on Friday, May 1st. DA Davidson upgraded Hershey to a “hold” rating in a research report on Monday, July 6th. Barclays dropped their price objective on Hershey from $220.00 to $208.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 21st. Weiss Ratings cut Hershey from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, June 26th. Finally, UBS Group decreased their target price on Hershey from $200.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday, July 16th. Seven equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to MarketBeat.com, Hershey presently has a consensus rating of “Hold” and an average target price of $208.28.
Hershey Trading Up 1.9%
HSY stock opened at $183.53 on Wednesday. The firm has a fifty day moving average price of $179.94 and a 200 day moving average price of $196.93. Hershey Company has a fifty-two week low of $161.43 and a fifty-two week high of $239.48. The firm has a market cap of $37.23 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 1.12 and a beta of 0.11. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 1.24.
Hershey (NYSE:HSY – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.31. Hershey had a net margin of 9.12% and a return on equity of 28.98%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the prior year, the firm earned $2.09 earnings per share. Hershey’s revenue was up 10.7% on a year-over-year basis. Sell-side analysts anticipate that Hershey Company will post 8.42 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $170.00, for a total value of $255,000.00. Following the completion of the transaction, the chief financial officer owned 53,195 shares in the company, valued at approximately $9,043,150. This trade represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.08% of the company’s stock.
Hershey Company Profile
The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.
Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.
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