The Hershey Company (NYSE:HSY) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC trimmed its position in The Hershey Company (NYSE:HSY) by 4.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 164,000 shares of the company’s stock after selling 7,763 shares during the period. Hershey comprises approximately 1.5% of Moran Wealth Management LLC’s holdings, making the stock its 3rd largest holding. Moran Wealth Management LLC’s holdings in Hershey were worth $40,951,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Glass Jacobson Investment Advisors llc acquired a new stake in shares of Hershey in the second quarter worth $25,000. Institutional & Family Asset Management LLC acquired a new stake in shares of Hershey in the second quarter worth $25,000. Zions Bancorporation N.A. lifted its stake in shares of Hershey by 121.3% in the first quarter. Zions Bancorporation N.A. now owns 135 shares of the company’s stock worth $29,000 after buying an additional 74 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Hershey in the fourth quarter worth $36,000. Finally, Wellington Shields Capital Management LLC bought a new position in Hershey during the first quarter worth $38,000. 56.47% of the stock is currently owned by institutional investors and hedge funds.

Hershey Price Performance

Shares of NYSE:HSY traded up $0.16 on Friday, hitting $196.00. The stock had a trading volume of 1,074,738 shares, compared to its average volume of 1,202,451. The Hershey Company has a twelve month low of $183.74 and a twelve month high of $276.88. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.63 and a current ratio of 1.09. The firm’s 50 day moving average price is $196.60 and its 200-day moving average price is $227.66. The company has a market capitalization of $40.08 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 2.42 and a beta of 0.35.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, October 26th. The company reported $2.60 EPS for the quarter, beating the consensus estimate of $2.47 by $0.13. Hershey had a net margin of 17.11% and a return on equity of 54.74%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the previous year, the company earned $2.17 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that The Hershey Company will post 9.54 earnings per share for the current year.

Hershey Dividend Announcement

The company also recently announced 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. The ex-dividend date is Thursday, November 16th. This represents a $4.77 annualized dividend and a dividend yield of 2.43%. Hershey’s dividend payout ratio is presently 51.46%.

Insider Activity

In related news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $214.36, for a total transaction of $321,540.00. Following the transaction, the chief financial officer now owns 37,316 shares in the company, valued at approximately $7,999,057.76. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Pamela M. Arway sold 182 shares of Hershey stock in a transaction on Monday, October 9th. The stock was sold at an average price of $194.56, for a total value of $35,409.92. Following the completion of the sale, the director now directly owns 15,562 shares of the company’s stock, valued at approximately $3,027,742.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $214.36, for a total value of $321,540.00. Following the completion of the transaction, the chief financial officer now owns 37,316 shares in the company, valued at approximately $7,999,057.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,682 shares of company stock worth $953,275. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

HSY has been the topic of a number of research reports. TD Cowen lowered shares of Hershey from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $235.00 to $200.00 in a research report on Friday, October 27th. Argus dropped their target price on shares of Hershey from $315.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, August 11th. Bank of America dropped their target price on shares of Hershey from $300.00 to $250.00 and set a “buy” rating on the stock in a research report on Tuesday, October 17th. Mizuho dropped their target price on shares of Hershey from $195.00 to $180.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 31st. Finally, Barclays dropped their target price on shares of Hershey from $265.00 to $218.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 12th. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $249.40.

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.