AdvisorNet Financial Inc Sells 813 Shares of The Hershey Company (NYSE:HSY)

AdvisorNet Financial Inc lessened its stake in shares of The Hershey Company (NYSE:HSY) by 39.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,250 shares of the company’s stock after selling 813 shares during the quarter. AdvisorNet Financial Inc’s holdings in Hershey were worth $214,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in HSY. Capital International Investors boosted its stake in shares of Hershey by 31.4% during the 4th quarter. Capital International Investors now owns 12,460,147 shares of the company’s stock worth $2,110,126,000 after acquiring an additional 2,980,997 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Hershey in the 4th quarter valued at approximately $80,978,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Hershey by 38.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,628,047 shares of the company’s stock valued at $275,710,000 after buying an additional 453,428 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Hershey by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company’s stock valued at $785,003,000 after buying an additional 247,675 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in Hershey in the 4th quarter valued at approximately $27,902,000. Institutional investors own 57.96% of the company’s stock.

Hershey Trading Down 0.4%

HSY stock opened at $160.65 on Monday. The business has a fifty day moving average price of $163.95 and a 200 day moving average price of $166.15. The Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $208.03. The stock has a market capitalization of $32.55 billion, a price-to-earnings ratio of 14.74, a P/E/G ratio of 5.90 and a beta of 0.32. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.15. Hershey had a return on equity of 44.77% and a net margin of 19.83%. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same period last year, the firm posted $3.07 EPS. The business’s revenue was down 13.8% on a year-over-year basis. Analysts expect that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be paid a $1.37 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $5.48 annualized dividend and a dividend yield of 3.41%. Hershey’s dividend payout ratio (DPR) is currently 67.57%.

Insider Activity

In other news, CAO Jennifer Mccalman sold 974 shares of the firm’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value of $153,025.14. Following the transaction, the chief accounting officer now directly owns 2,994 shares in the company, valued at $470,387.34. This trade represents a 24.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Royal Bank of Canada lowered their target price on Hershey from $178.00 to $175.00 and set a “sector perform” rating on the stock in a report on Friday, May 2nd. Sanford C. Bernstein raised their price objective on Hershey from $147.00 to $155.00 and gave the stock a “market perform” rating in a research report on Friday, May 2nd. UBS Group reduced their price objective on Hershey from $175.00 to $170.00 and set a “neutral” rating for the company in a research report on Friday, May 2nd. DA Davidson raised their price objective on Hershey from $162.00 to $163.00 and gave the stock a “neutral” rating in a research report on Monday, May 5th. Finally, Bernstein Bank reduced their price objective on Hershey from $177.00 to $146.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Five investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company’s stock. Based on data from MarketBeat, Hershey has an average rating of “Hold” and a consensus price target of $158.84.

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