Confluence Investment Management LLC Decreases Holdings in The Hershey Company (NYSE:HSY)

Confluence Investment Management LLC cut its stake in The Hershey Company (NYSE:HSY) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 711,075 shares of the company’s stock after selling 6,756 shares during the quarter. Hershey comprises about 1.8% of Confluence Investment Management LLC’s investment portfolio, making the stock its 18th biggest position. Confluence Investment Management LLC’s holdings in Hershey were worth $136,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of HSY. Vanguard Group Inc. boosted its holdings in Hershey by 14.2% in the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after acquiring an additional 2,158,912 shares during the period. Janus Henderson Group PLC grew its holdings in Hershey by 6.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock valued at $289,327,000 after purchasing an additional 90,329 shares in the last quarter. Principal Financial Group Inc. increased its stake in Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after buying an additional 389,404 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Hershey by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock worth $144,743,000 after buying an additional 25,780 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Hershey by 23.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock valued at $143,962,000 after buying an additional 147,215 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Citigroup cut Hershey from a “neutral” rating to a “sell” rating and cut their price target for the stock from $195.00 to $182.00 in a research note on Tuesday, August 27th. Barclays cut their target price on Hershey from $204.00 to $202.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Redburn Atlantic assumed coverage on shares of Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price target on the stock. Finally, Stifel Nicolaus reduced their price objective on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Five analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $191.61.

Hershey Stock Down 2.2 %

NYSE:HSY opened at $172.89 on Friday. The firm has a market capitalization of $34.97 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 4.14 and a beta of 0.38. The Hershey Company has a 52 week low of $171.67 and a 52 week high of $211.92. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87. The stock has a 50 day moving average of $189.89 and a 200-day moving average of $192.34.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, November 7th. The company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.16). Hershey had a return on equity of 45.36% and a net margin of 16.76%. The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.07 billion. Analysts predict that The Hershey Company will post 9.39 EPS for the current year.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.17%. Hershey’s payout ratio is 60.89%.

Insiders Place Their Bets

In other news, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $199.17, for a total transaction of $107,153.46. Following the sale, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.29% of the stock is 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.