Wilkins Investment Counsel Inc. Boosts Holdings in The Hershey Company (NYSE:HSY)

Wilkins Investment Counsel Inc. grew its position in shares of The Hershey Company (NYSE:HSY) by 0.7% in the second quarter, Holdings Channel reports. The institutional investor owned 30,230 shares of the company’s stock after buying an additional 225 shares during the period. Wilkins Investment Counsel Inc.’s holdings in Hershey were worth $5,557,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in 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 in the last quarter. Norges Bank acquired a new position in Hershey during the 4th quarter worth approximately $349,448,000. Confluence Investment Management LLC raised its stake in shares of Hershey by 297.9% during the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after buying an additional 537,419 shares in the last quarter. Bryn Mawr Capital Management LLC lifted its holdings in shares of Hershey by 3,404.3% in the 1st quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock valued at $49,879,000 after buying an additional 249,129 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of Hershey by 98.4% in the first quarter. Principal Financial Group Inc. now owns 419,947 shares of the company’s stock valued at $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 Trading Up 1.2 %

Shares of HSY stock opened at $200.83 on Friday. The Hershey Company has a twelve month low of $178.82 and a twelve month high of $213.85. The company has a market capitalization of $40.63 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 5.77 and a beta of 0.37. The firm has a 50-day moving average price of $195.11 and a 200 day moving average price of $193.69. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) 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% on a year-over-year basis. During the same period in the previous year, the company posted $2.01 EPS. Research analysts forecast that The Hershey Company will post 9.5 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Friday, August 16th. Hershey’s dividend payout ratio is currently 54.31%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. JPMorgan Chase & Co. increased their price objective on Hershey from $183.00 to $188.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Barclays cut their price target on shares of Hershey from $210.00 to $204.00 and set an “equal weight” rating for the company in a report on Tuesday, June 18th. The Goldman Sachs Group began coverage on shares of Hershey in a report on Monday, August 12th. They set a “sell” rating and a $185.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Finally, Piper Sandler reissued a “neutral” rating and set a $179.00 price target on shares of Hershey in a research note on Friday, June 21st. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Hershey currently has an average rating of “Hold” and an average price target of $203.21.

Insider Activity at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $199.17, for a total value of $107,153.46. Following the sale, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $182.93, for a total transaction of $274,395.00. Following the transaction, the chief financial officer now owns 35,728 shares of the company’s stock, valued at $6,535,723.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction on 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 owns 3,238 shares in the company, valued at approximately $644,912.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,538 shares of company stock worth $667,793. 0.34% of the stock is currently owned by insiders.

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.