Axiom Investors LLC DE Decreases Stake in The Hershey Company (NYSE:HSY)

Axiom Investors LLC DE cut its holdings in shares of The Hershey Company (NYSE:HSY) by 22.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 601,064 shares of the company’s stock after selling 175,418 shares during the quarter. Hershey makes up about 2.2% of Axiom Investors LLC DE’s investment portfolio, making the stock its 10th biggest position. Axiom Investors LLC DE owned about 0.29% of Hershey worth $150,086,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Great Diamond Partners LLC increased its holdings in shares of Hershey by 0.7% in the first quarter. Great Diamond Partners LLC now owns 5,624 shares of the company’s stock worth $1,431,000 after purchasing an additional 37 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Hershey by 7.3% in the first quarter. Brown Brothers Harriman & Co. now owns 543 shares of the company’s stock worth $138,000 after purchasing an additional 37 shares during the last quarter. Brighton Jones LLC increased its holdings in shares of Hershey by 1.2% in the first quarter. Brighton Jones LLC now owns 3,296 shares of the company’s stock worth $839,000 after purchasing an additional 38 shares during the last quarter. V Wealth Advisors LLC increased its holdings in shares of Hershey by 3.6% in the first quarter. V Wealth Advisors LLC now owns 1,151 shares of the company’s stock worth $293,000 after purchasing an additional 40 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. increased its holdings in shares of Hershey by 0.4% in the first quarter. Van Lanschot Kempen Investment Management N.V. now owns 10,004 shares of the company’s stock worth $2,545,000 after purchasing an additional 41 shares during the last quarter. 56.47% of the stock is owned by institutional investors.

Hershey Stock Performance

Shares of NYSE:HSY opened at $193.42 on Monday. The company has a market capitalization of $39.55 billion, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 2.42 and a beta of 0.35. The Hershey Company has a 52 week low of $183.74 and a 52 week high of $276.88. The company has a quick ratio of 0.63, a current ratio of 1.09 and a debt-to-equity ratio of 1.03. The firm has a 50 day moving average of $196.60 and a 200 day moving average of $227.34.

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

Hershey Announces Dividend

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 given a dividend of $1.192 per share. This represents a $4.77 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Thursday, November 16th. Hershey’s payout ratio is presently 51.46%.

Insider Transactions at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $214.36, for a total transaction of $321,540.00. Following the transaction, the chief financial officer now directly owns 37,316 shares of the company’s stock, valued at $7,999,057.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Pamela M. Arway sold 182 shares of the company’s 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 transaction, 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 SEC, which is available through this hyperlink. Also, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction on 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 directly owns 37,316 shares in the company, valued at $7,999,057.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,682 shares of company stock valued at $953,275. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HSY. Morgan Stanley reduced their target price on Hershey from $245.00 to $186.00 and set an “equal weight” rating on the stock in a report on Friday, October 27th. Mizuho reduced their price objective on Hershey from $195.00 to $180.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 31st. Stephens began coverage on Hershey in a research note on Friday, October 13th. They set an “overweight” rating and a $240.00 price objective on the stock. Barclays reduced their price objective on Hershey from $265.00 to $218.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 12th. Finally, Bank of America dropped their target price on Hershey from $300.00 to $250.00 and set a “buy” rating for the company in a research report on Tuesday, October 17th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Hershey presently has an average rating of “Hold” and a consensus target price of $249.40.

About Hershey

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.