OneDigital Investment Advisors LLC bought a new stake in Hershey Company (The) (NYSE:HSY – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 32,718 shares of the company’s stock, valued at approximately $5,740,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of HSY. Bell Investment Advisors Inc purchased a new position in Hershey during the 2nd quarter valued at about $26,000. AMG National Trust Bank purchased a new stake in shares of Hershey during the 2nd quarter worth $3,651,000. Simplicity Wealth LLC acquired a new stake in shares of Hershey during the 2nd quarter worth about $368,000. HBK Sorce Advisory LLC acquired a new stake in Hershey during the second quarter worth approximately $536,000. Finally, Global Retirement Partners LLC acquired a new position in Hershey in the second quarter valued at $1,687,000. 57.96% of the stock is owned by institutional investors and hedge funds.
Hershey Price Performance
HSY stock opened at $184.29 on Monday. The firm has a market cap of $37.03 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 1.12 and a beta of 0.11. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.66 and a current ratio of 1.18. Hershey Company has a 1 year low of $161.43 and a 1 year high of $239.48. The stock has a 50-day simple moving average of $177.65 and a 200-day simple moving average of $195.75.
Hershey Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 14th will be paid a $1.452 dividend. The ex-dividend date is Friday, August 14th. This represents a $5.81 annualized dividend and a dividend yield of 3.2%. Hershey’s dividend payout ratio is 79.37%.
Analyst Ratings Changes
A number of research analysts have recently issued reports on HSY shares. Barclays dropped their target price on Hershey from $208.00 to $200.00 and set an “equal weight” rating on the stock in a report on Monday, August 3rd. Jefferies Financial Group set a $190.00 price objective on shares of Hershey in a research report on Thursday, July 16th. Bank of America dropped their price target on Hershey from $220.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday, June 25th. DA Davidson set a $190.00 price objective on shares of Hershey in a research report on Friday, July 31st. Finally, Piper Sandler reduced their target price on Hershey from $249.00 to $200.00 and set an “overweight” rating on the stock in a research report on Thursday, July 9th. Seven equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $203.61.
View Our Latest Analysis on HSY
Insider Buying and Selling at Hershey
In related news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $170.00, for a total transaction of $255,000.00. Following the completion of the sale, the chief financial officer directly owned 53,195 shares of the company’s stock, valued at approximately $9,043,150. This trade represents a 2.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company’s stock.
Hershey 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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