The Hershey Company (NYSE:HSY) Shares Sold by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC trimmed its position in The Hershey Company (NYSE:HSY) by 16.2% during the third quarter, Holdings Channel.com reports. The firm owned 300 shares of the company’s stock after selling 58 shares during the period. Princeton Global Asset Management LLC’s holdings in Hershey were worth $58,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Advisors Ltd. LLC raised its stake in Hershey by 218.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. GHP Investment Advisors Inc. raised its stake in Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after acquiring an additional 55 shares in the last quarter. OFI Invest Asset Management acquired a new stake in Hershey during the 2nd quarter worth $29,000. Crewe Advisors LLC acquired a new stake in Hershey during the 1st quarter worth $35,000. Finally, Gradient Investments LLC raised its stake in Hershey by 71.9% during the 2nd quarter. Gradient Investments LLC now owns 251 shares of the company’s stock worth $46,000 after acquiring an additional 105 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling 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 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 in the company, valued at approximately $644,912.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Redburn Atlantic assumed coverage on shares of Hershey in a research note on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price target on the stock. Royal Bank of Canada reduced their target price on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Bank of America lowered their price target on Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Jefferies Financial Group reduced their price objective on Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. lowered their target price on Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research note on Monday, October 14th. Five research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Hershey has an average rating of “Hold” and an average target price of $191.61.

Hershey Stock Performance

Shares of HSY opened at $179.26 on Monday. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The company has a 50-day simple moving average of $190.76 and a 200-day simple moving average of $192.53. The Hershey Company has a 52-week low of $176.78 and a 52-week high of $211.92. The company has a market capitalization of $36.26 billion, a PE ratio of 19.92, a P/E/G ratio of 4.09 and a beta of 0.38.

Hershey (NYSE:HSY) last posted its 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). Hershey had a net margin of 16.76% and a return on equity of 45.36%. The business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter last year, the business posted $2.01 earnings per share. The business’s revenue was down 16.7% compared to the same quarter last year. Equities research analysts predict that The Hershey Company will post 9.42 earnings per share for the current fiscal year.

About Hershey

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.