Greystone Financial Group LLC Buys 3,056 Shares of The Hershey Company (NYSE:HSY)

Greystone Financial Group LLC grew its position in The Hershey Company (NYSE:HSY) by 10.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 32,871 shares of the company’s stock after acquiring an additional 3,056 shares during the period. Greystone Financial Group LLC’s holdings in Hershey were worth $6,043,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Hershey by 14.2% during the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after purchasing an additional 2,158,912 shares during the last quarter. Norges Bank bought a new stake in Hershey in the fourth quarter valued at approximately $349,448,000. Confluence Investment Management LLC raised its position in shares of Hershey by 297.9% in the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after acquiring an additional 537,419 shares in the last quarter. Bryn Mawr Capital Management LLC raised its holdings in shares of Hershey by 3,404.3% during the first quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock valued at $49,879,000 after purchasing an additional 249,129 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Hershey by 98.4% during the first quarter. Principal Financial Group Inc. now owns 419,947 shares of the company’s stock worth $81,680,000 after buying an additional 208,293 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Price Performance

NYSE HSY traded up $1.70 on Friday, reaching $199.80. The company had a trading volume of 1,190,987 shares, compared to its average volume of 1,780,165. The firm’s 50 day moving average price is $193.40 and its 200 day moving average price is $193.35. The Hershey Company has a 12 month low of $178.82 and a 12 month high of $213.85. The stock has a market capitalization of $40.41 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 5.60 and a beta of 0.37. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.17). The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. The business’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.01 EPS. As a group, equities analysts predict that The Hershey Company will post 9.5 earnings per share for the current year.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Friday, August 16th. Hershey’s dividend payout ratio (DPR) is 54.31%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HSY. Sanford C. Bernstein decreased their target price on Hershey from $237.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft dropped their price target on Hershey from $192.00 to $191.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and cut their target price for the stock from $195.00 to $182.00 in a research report on Tuesday, August 27th. Piper Sandler reiterated a “neutral” rating and issued a $179.00 price objective on shares of Hershey in a report on Friday, June 21st. Finally, Bank of America lowered their price target on Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $202.79.

Insider Activity

In related news, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the completion of the transaction, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total value of $286,245.00. Following the completion of the sale, the chief financial officer now directly owns 34,228 shares of the company’s stock, valued at approximately $6,531,729.24. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $199.17, for a total value of $107,153.46. Following the transaction, the chief accounting officer now owns 3,238 shares in the company, valued at $644,912.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,538 shares of company stock valued at $667,793. 0.34% of the stock is currently owned by insiders.

Hershey 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.