Wealthfront Advisers LLC Reduces Stock Position in Hershey Co (NYSE:HSY)

Wealthfront Advisers LLC cut its holdings in shares of Hershey Co (NYSE:HSY) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,703 shares of the company’s stock after selling 432 shares during the quarter. Wealthfront Advisers LLC’s holdings in Hershey were worth $2,308,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of HSY. Stifel Financial Corp grew its position in shares of Hershey by 25.3% in the 3rd quarter. Stifel Financial Corp now owns 233,977 shares of the company’s stock worth $36,224,000 after acquiring an additional 47,183 shares in the last quarter. Colony Group LLC acquired a new position in shares of Hershey in the 2nd quarter worth approximately $274,000. Arabesque Asset Management Ltd acquired a new position in shares of Hershey in the 3rd quarter worth approximately $1,844,000. Fulton Breakefield Broenniman LLC acquired a new position in shares of Hershey in the 3rd quarter worth approximately $555,000. Finally, Beese Fulmer Investment Management Inc. grew its position in shares of Hershey by 78.5% in the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 55,670 shares of the company’s stock worth $8,628,000 after acquiring an additional 24,489 shares in the last quarter. Institutional investors own 53.27% of the company’s stock.

NYSE:HSY opened at $152.83 on Wednesday. Hershey Co has a 12-month low of $100.80 and a 12-month high of $162.20. The firm has a market capitalization of $31.56 billion, a P/E ratio of 25.18, a P/E/G ratio of 3.52 and a beta of 0.05. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.47. The business has a 50 day simple moving average of $147.74 and a 200 day simple moving average of $149.64.

Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, October 24th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.01. Hershey had a return on equity of 77.39% and a net margin of 16.18%. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the previous year, the firm posted $1.55 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Research analysts anticipate that Hershey Co will post 5.73 EPS for the current fiscal year.

In other Hershey news, SVP Kevin R. Walling sold 2,500 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $145.75, for a total transaction of $364,375.00. Also, CEO Michele Buck sold 3,832 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $150.00, for a total value of $574,800.00. Following the transaction, the chief executive officer now owns 149,429 shares of the company’s stock, valued at approximately $22,414,350. The disclosure for this sale can be found here. Insiders have sold a total of 52,230 shares of company stock valued at $7,720,027 in the last 90 days. Insiders own 0.41% of the company’s stock.

HSY has been the subject of several research reports. BMO Capital Markets lifted their target price on Hershey from $133.00 to $138.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Deutsche Bank initiated coverage on Hershey in a research report on Wednesday, December 11th. They issued a “hold” rating and a $155.00 target price for the company. Royal Bank of Canada initiated coverage on Hershey in a research report on Thursday, October 17th. They issued a “sector perform” rating and a $158.00 target price for the company. UBS Group set a $147.00 target price on Hershey and gave the stock a “hold” rating in a research report on Friday, October 25th. Finally, Bank of America lowered Hershey from a “buy” rating to a “neutral” rating and set a $155.00 target price for the company. in a research report on Friday, December 20th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $146.27.

About Hershey

The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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