Wealth Enhancement Advisory Services LLC Increases Stock Holdings in The Hershey Company (NYSE:HSY)

Wealth Enhancement Advisory Services LLC raised its stake in shares of The Hershey Company (NYSE:HSY) by 72.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 85,279 shares of the company’s stock after purchasing an additional 35,872 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Hershey were worth $15,677,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Riverview Trust Co bought a new stake in Hershey during the 1st quarter valued at approximately $29,000. Rakuten Securities Inc. purchased a new stake in Hershey in the fourth quarter worth $32,000. Crewe Advisors LLC bought a new position in Hershey in the first quarter worth $35,000. Quarry LP purchased a new position in Hershey during the fourth quarter valued at $34,000. Finally, Park Place Capital Corp bought a new position in shares of Hershey in the 1st quarter worth about $36,000. 57.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on HSY shares. Sanford C. Bernstein cut their price objective on shares of Hershey from $237.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. The Goldman Sachs Group assumed coverage on Hershey in a report on Monday. They set a “sell” rating and a $185.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of Hershey from $183.00 to $188.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Piper Sandler reaffirmed a “neutral” rating and issued a $179.00 target price on shares of Hershey in a report on Friday, June 21st. Finally, Bank of America reduced their price target on shares of Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $203.47.

Hershey Stock Performance

Shares of NYSE:HSY traded up $1.61 during trading on Wednesday, hitting $201.07. The company’s stock had a trading volume of 392,174 shares, compared to its average volume of 1,836,990. The company has a 50-day moving average of $190.27 and a 200-day moving average of $193.20. The firm has a market cap of $40.66 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 4.96 and a beta of 0.36. The Hershey Company has a 12 month low of $178.82 and a 12 month high of $224.10. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.64.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). Hershey had a return on equity of 45.36% and a net margin of 16.76%. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the business posted $2.01 earnings per share. Hershey’s revenue for the quarter was down 16.7% compared to the same quarter last year. On average, sell-side analysts expect that The Hershey Company will post 9.59 earnings per share for the current year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be paid a $1.37 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.73%. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

Insider Activity

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the 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 owns 3,238 shares in the company, valued at approximately $644,912.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction dated Monday, August 12th. The stock was 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $204.54, for a total transaction of $306,810.00. Following the sale, the chief financial officer now directly owns 37,228 shares in the company, valued at approximately $7,614,615.12. The disclosure for this sale can be found here. Insiders have sold 5,038 shares of company stock worth $974,603 in the last three months. Company 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.