Johnson Investment Counsel Inc. Decreases Stake in The Hershey Company (NYSE:HSY)

Johnson Investment Counsel Inc. reduced its stake in The Hershey Company (NYSE:HSY) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,748 shares of the company’s stock after selling 521 shares during the period. Johnson Investment Counsel Inc.’s holdings in Hershey were worth $4,432,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of HSY. Glass Jacobson Investment Advisors llc purchased a new position in Hershey in the 2nd quarter worth approximately $25,000. Institutional & Family Asset Management LLC purchased a new position in Hershey in the 2nd quarter worth approximately $25,000. Zions Bancorporation N.A. increased its stake in shares of Hershey by 121.3% during the first quarter. Zions Bancorporation N.A. now owns 135 shares of the company’s stock valued at $29,000 after buying an additional 74 shares during the period. ICA Group Wealth Management LLC purchased a new position in shares of Hershey during the fourth quarter valued at approximately $36,000. Finally, Wellington Shields Capital Management LLC purchased a new position in shares of Hershey during the first quarter valued at approximately $38,000. 56.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HSY has been the topic of several research analyst reports. TD Cowen cut Hershey from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $235.00 to $200.00 in a research note on Friday, October 27th. StockNews.com initiated coverage on Hershey in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Argus reduced their target price on Hershey from $315.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, August 11th. Stephens assumed coverage on Hershey in a research report on Friday, October 13th. They set an “overweight” rating and a $240.00 price target on the stock. Finally, Mizuho dropped their price target on Hershey from $195.00 to $180.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 31st. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $249.40.

Hershey Stock Up 0.1 %

Hershey stock traded up $0.16 during mid-day trading on Friday, hitting $196.00. The company had a trading volume of 1,074,738 shares, compared to its average volume of 1,202,451. The company has a current ratio of 1.09, a quick ratio of 0.63 and a debt-to-equity ratio of 1.03. The stock’s 50 day moving average price is $196.60 and its two-hundred day moving average price is $227.99. The Hershey Company has a 12 month low of $183.74 and a 12 month high of $276.88. The company has a market capitalization of $40.08 billion, a PE ratio of 21.15, a price-to-earnings-growth ratio of 2.42 and a beta of 0.35.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, October 26th. The company reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.47 by $0.13. Hershey had a return on equity of 54.74% and a net margin of 17.11%. The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter in the previous year, the business earned $2.17 earnings per share. The company’s revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts anticipate that The Hershey Company will post 9.54 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be paid a $1.192 dividend. This represents a $4.77 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Thursday, November 16th. Hershey’s dividend payout ratio is currently 51.46%.

Insider Transactions at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $190.55, for a total value of $285,825.00. Following the completion of the transaction, the chief financial officer now owns 34,316 shares in the company, valued at $6,538,913.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $190.55, for a total value of $285,825.00. Following the completion of the transaction, the chief financial officer now owns 34,316 shares in the company, valued at $6,538,913.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pamela M. Arway sold 182 shares of the company’s stock in a transaction on Monday, October 9th. The shares were sold at an average price of $194.56, for a total value of $35,409.92. Following the sale, the director now owns 15,562 shares of the company’s stock, valued at approximately $3,027,742.72. The disclosure for this sale can be found here. Insiders sold 4,682 shares of company stock worth $953,275 over the last quarter. 0.34% of the stock is currently owned by insiders.

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