NewEdge Wealth LLC Cuts Stock Position in Hershey Company (The) $HSY

NewEdge Wealth LLC lessened its holdings in Hershey Company (The) (NYSE:HSY) by 30.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,092 shares of the company’s stock after selling 3,480 shares during the period. NewEdge Wealth LLC’s holdings in Hershey were worth $1,682,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of HSY. Bard Associates Inc. purchased a new position in shares of Hershey in the 4th quarter worth $26,000. Reflection Asset Management bought a new stake in shares of Hershey in the 4th quarter worth about $26,000. JPL Wealth Management LLC purchased a new stake in shares of Hershey during the 3rd quarter valued at about $26,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Hershey during the 4th quarter valued at about $27,000. Finally, Manchester Capital Management LLC lifted its holdings in shares of Hershey by 123.0% in the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the company’s stock valued at $30,000 after acquiring an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on HSY shares. Weiss Ratings lowered Hershey from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, June 26th. Barclays decreased their price objective on Hershey from $220.00 to $208.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 21st. Morgan Stanley lowered their price objective on Hershey from $247.00 to $227.00 and set an “overweight” rating for the company in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on Hershey from $212.00 to $200.00 and set a “hold” rating for the company in a report on Monday, March 30th. Finally, BTIG Research assumed coverage on Hershey in a research report on Monday, April 13th. They set a “neutral” rating on the stock. Seven analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat.com, Hershey currently has a consensus rating of “Hold” and an average target price of $208.28.

Insider Transactions at Hershey

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $173.43, for a total value of $260,145.00. Following the transaction, the chief financial officer owned 54,695 shares of the company’s stock, valued at $9,485,753.85. This represents a 2.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.08% of the stock is currently owned by insiders.

Hershey Stock Performance

Hershey stock opened at $174.43 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 0.77. Hershey Company has a 1-year low of $161.43 and a 1-year high of $239.48. The firm has a market capitalization of $35.38 billion, a P/E ratio of 32.48, a price-to-earnings-growth ratio of 1.09 and a beta of 0.11. The company’s 50-day moving average is $180.34 and its 200 day moving average is $196.90.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.31. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.03 billion. Hershey had a net margin of 9.12% and a return on equity of 28.98%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.09 earnings per share. Research analysts forecast that Hershey Company will post 8.42 EPS for the current year.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were issued a dividend of $1.452 per share. The ex-dividend date was Friday, May 15th. This represents a $5.81 dividend on an annualized basis and a yield of 3.3%. Hershey’s payout ratio is presently 108.19%.

Hershey Profile

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.