Confluence Investment Management LLC Sells 38,348 Shares of Hershey Company (The) $HSY

Confluence Investment Management LLC decreased its holdings in Hershey Company (The) (NYSE:HSY) by 5.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 624,895 shares of the company’s stock after selling 38,348 shares during the period. Hershey accounts for approximately 1.5% of Confluence Investment Management LLC’s investment portfolio, making the stock its 16th biggest holding. Confluence Investment Management LLC’s holdings in Hershey were worth $98,490,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bard Associates Inc. bought a new stake in shares of Hershey in the 4th quarter valued at about $26,000. Reflection Asset Management bought a new stake in Hershey in the fourth quarter valued at approximately $26,000. Bell Investment Advisors Inc bought a new stake in Hershey in the second quarter valued at approximately $26,000. GKV Capital Management Co. Inc. acquired a new stake in Hershey during the 1st quarter valued at approximately $27,000. Finally, Manchester Capital Management LLC raised its holdings in Hershey by 123.0% during the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the company’s stock worth $30,000 after purchasing an additional 91 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Stock Up 1.1%

HSY stock traded up $1.74 during trading on Thursday, reaching $159.35. 668,791 shares of the stock were exchanged, compared to its average volume of 1,867,289. The firm’s 50 day moving average is $176.75 and its 200 day moving average is $185.30. The firm has a market cap of $32.02 billion, a P/E ratio of 21.77, a price-to-earnings-growth ratio of 1.28 and a beta of 0.11. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 1.03. Hershey Company has a twelve month low of $156.16 and a twelve month high of $239.48.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, July 30th. The company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.47. The firm had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.63 billion. Hershey had a return on equity of 31.92% and a net margin of 12.24%.The company’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 earnings per share. Hershey has set its FY 2026 guidance at 8.360-8.520 EPS. As a group, research analysts forecast that Hershey Company will post 8.49 EPS for the current year.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th were paid a dividend of $1.4520 per share. This represents a $5.81 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Friday, August 14th. Hershey’s payout ratio is 79.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Jefferies Financial Group set a $190.00 price objective on shares of Hershey in a research note on Thursday, July 16th. Wells Fargo & Company lowered their target price on shares of Hershey from $200.00 to $190.00 and set an “equal weight” rating for the company in a research note on Friday, July 31st. Bank of America cut their price target on shares of Hershey from $220.00 to $200.00 and set a “neutral” rating on the stock in a research report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $191.00 price target on shares of Hershey in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. boosted their price objective on Hershey from $191.00 to $193.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Six equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat, Hershey presently has an average rating of “Hold” and an average target price of $204.78.

Insider Buying and Selling

In other Hershey news, CFO Steven Voskuil sold 1,500 shares of the company’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $170.00, for a total transaction of $255,000.00. Following the transaction, the chief financial officer owned 53,195 shares in the company, valued at approximately $9,043,150. This represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company’s stock.

Hershey Company Profile

The Hershey Company (NYSE: HSY) is a global confectionery and snack food company headquartered in Hershey, Pennsylvania. Founded by Milton S. Hershey in 1894, the company began as a chocolate manufacturer and has grown into one of the largest producers of confectionery products in North America.

Hershey’s portfolio includes chocolate, candy, gum, mints, protein bars and salty snacks. Its well-known brands include Hershey’s, Reese’s, Kisses, Kit Kat, Jolly Rancher, Twizzlers, Ice Breakers, SkinnyPop and Dot’s.