Connors Investor Services Inc. Has $2.09 Million Stake in The Hershey Company (NYSE:HSY)

Connors Investor Services Inc. raised its position in The Hershey Company (NYSE:HSY) by 729.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,370 shares of the company’s stock after purchasing an additional 10,000 shares during the quarter. Connors Investor Services Inc.’s holdings in Hershey were worth $2,090,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Capital Advisors Ltd. LLC boosted its position 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 buying an additional 96 shares during the period. GHP Investment Advisors Inc. grew its position in shares of Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after buying an additional 55 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. OFI Invest Asset Management bought a new position in shares of Hershey during the second quarter worth about $29,000. Finally, Quarry LP bought a new stake in Hershey in the fourth quarter valued at approximately $34,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 3,238 shares in the company, valued at approximately $644,912.46. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the 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 transaction, the chief financial officer now owns 35,728 shares in the company, valued at $6,535,723.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Jennifer Mccalman sold 538 shares of the business’s 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 sale, 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 valued at $667,793. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of Hershey in a report on Monday, August 12th. They issued a “sell” rating and a $185.00 target price on the stock. 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 note on Wednesday, July 17th. Royal Bank of Canada lowered their target price on Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their price target on Hershey from $183.00 to $188.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $203.21.

Hershey Price Performance

Shares of NYSE:HSY opened at $200.81 on Tuesday. The company’s fifty day moving average price is $195.43 and its 200-day moving average price is $193.83. The Hershey Company has a one year low of $178.82 and a one year high of $213.72. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48. The firm has a market capitalization of $40.61 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 5.77 and a beta of 0.37.

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 analysts’ consensus estimates of $1.44 by ($0.17). Hershey had a net margin of 16.76% and a return on equity of 45.36%. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period last year, the business posted $2.01 earnings per share. The firm’s quarterly revenue was down 16.7% compared to the same quarter last year. On average, equities research analysts anticipate that The Hershey Company will post 9.5 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date was Friday, August 16th. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

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.