The Hershey Company (NYSE:HSY) Shares Sold by Confluence Investment Management LLC

Confluence Investment Management LLC lowered its holdings in The Hershey Company (NYSE:HSY) by 1.7% in the 2nd quarter, Holdings Channel.com reports. The fund owned 105,965 shares of the company’s stock after selling 1,808 shares during the quarter. Confluence Investment Management LLC’s holdings in Hershey were worth $26,459,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Great Diamond Partners LLC increased its holdings in Hershey by 0.7% in the 1st quarter. Great Diamond Partners LLC now owns 5,624 shares of the company’s stock valued at $1,431,000 after purchasing an additional 37 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in shares of Hershey by 7.3% in the first quarter. Brown Brothers Harriman & Co. now owns 543 shares of the company’s stock valued at $138,000 after buying an additional 37 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of Hershey by 1.2% during the 1st quarter. Brighton Jones LLC now owns 3,296 shares of the company’s stock valued at $839,000 after buying an additional 38 shares during the period. Caprock Group LLC lifted its position in Hershey by 2.8% during the 1st quarter. Caprock Group LLC now owns 1,423 shares of the company’s stock worth $362,000 after acquiring an additional 39 shares in the last quarter. Finally, V Wealth Advisors LLC boosted its holdings in Hershey by 3.6% in the 1st quarter. V Wealth Advisors LLC now owns 1,151 shares of the company’s stock worth $293,000 after acquiring an additional 40 shares during the period. Hedge funds and other institutional investors own 56.47% of the company’s stock.

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $214.36, for a total value of $321,540.00. Following the transaction, the chief financial officer now owns 37,316 shares of the company’s stock, valued at approximately $7,999,057.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $214.36, for a total transaction of $321,540.00. Following the sale, the chief financial officer now directly owns 37,316 shares of the company’s stock, valued at approximately $7,999,057.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Pamela M. Arway sold 187 shares of Hershey stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $241.66, for a total value of $45,190.42. Following the transaction, the director now owns 15,529 shares in the company, valued at approximately $3,752,738.14. The disclosure for this sale can be found here. Insiders have sold 198,470 shares of company stock worth $51,432,407 in the last three months. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HSY shares. JPMorgan Chase & Co. dropped their price objective on shares of Hershey from $252.00 to $249.00 in a research note on Wednesday, July 12th. Morgan Stanley cut their price objective on shares of Hershey from $270.00 to $245.00 in a report on Friday, July 28th. TD Cowen assumed coverage on shares of Hershey in a research report on Wednesday. They issued an “outperform” rating and a $250.00 price objective for the company. Argus cut their price target on Hershey from $315.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, August 11th. Finally, Mizuho lowered their price objective on Hershey from $263.00 to $233.00 in a research note on Monday, July 31st. Twelve research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $261.50.

Hershey Price Performance

Shares of NYSE:HSY opened at $211.65 on Thursday. The stock has a market cap of $43.28 billion, a price-to-earnings ratio of 24.13, a PEG ratio of 2.56 and a beta of 0.29. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.06 and a quick ratio of 0.55. The Hershey Company has a 12 month low of $206.69 and a 12 month high of $276.88. The stock’s 50 day moving average price is $226.54 and its 200 day moving average price is $246.20.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, July 27th. The company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.12. Hershey had a net margin of 16.49% and a return on equity of 55.74%. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same period in the prior year, the company earned $1.80 EPS. Hershey’s revenue was up 5.0% on a year-over-year basis. Equities research analysts anticipate that The Hershey Company will post 9.55 earnings per share for the current fiscal year.

Hershey Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 18th will be paid a dividend of $1.192 per share. The ex-dividend date of this dividend is Thursday, August 17th. This is a positive change from Hershey’s previous quarterly dividend of $1.04. This represents a $4.77 annualized dividend and a dividend yield of 2.25%. Hershey’s dividend payout ratio (DPR) is currently 54.78%.

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; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.