Plato Investment Management Ltd Buys 258 Shares of The Hershey Company (NYSE:HSY)

Plato Investment Management Ltd boosted its stake in shares of The Hershey Company (NYSE:HSY) by 3.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,881 shares of the company’s stock after purchasing an additional 258 shares during the quarter. Plato Investment Management Ltd’s holdings in Hershey were worth $1,449,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Capital Advisors Ltd. LLC grew its stake in Hershey by 218.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after buying an additional 96 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of Hershey in the first quarter valued at about $29,000. GHP Investment Advisors Inc. grew its position in shares of Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Hershey in the second quarter worth about $29,000. Finally, Crewe Advisors LLC acquired a new position in shares of Hershey during the 1st quarter worth about $35,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Price Performance

Shares of Hershey stock opened at $200.83 on Monday. The stock has a market capitalization of $40.61 billion, a price-to-earnings ratio of 19.90, a P/E/G ratio of 5.77 and a beta of 0.37. The firm’s 50-day moving average price is $195.11 and its two-hundred day moving average price is $193.74. 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 Hershey Company has a 1-year low of $178.82 and a 1-year high of $213.85.

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 analysts’ consensus estimates of $1.44 by ($0.17). The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. The company’s revenue for the quarter was down 16.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.01 earnings per share. On average, equities analysts predict that The Hershey Company will post 9.5 earnings per share for the current fiscal year.

Hershey Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have commented on HSY shares. Argus downgraded Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and cut their target price for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Bank of America decreased their price target on shares of Hershey from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Sanford C. Bernstein cut their price objective on shares of Hershey from $237.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. increased their target price on shares of Hershey from $183.00 to $188.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $203.21.

Insiders Place Their Bets

In related news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $182.93, for a total value of $274,395.00. Following the completion of the sale, the chief financial officer now owns 35,728 shares of the company’s stock, valued at $6,535,723.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction on Monday, June 24th. The stock was sold at an average price of $182.93, for a total value of $274,395.00. Following the completion of the sale, the chief financial officer now directly owns 35,728 shares of the company’s stock, valued at approximately $6,535,723.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jennifer Mccalman sold 538 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $199.17, for a total value of $107,153.46. Following the transaction, the chief accounting officer now directly 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 three months, insiders sold 3,538 shares of company stock valued at $667,793. Insiders own 0.34% of the company’s stock.

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.