Arthur M. Cohen & Associates LLC Sells 2,650 Shares of The Hershey Company (NYSE:HSY)

Arthur M. Cohen & Associates LLC lowered its position in The Hershey Company (NYSE:HSY) by 29.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,292 shares of the company’s stock after selling 2,650 shares during the quarter. Arthur M. Cohen & Associates LLC’s holdings in Hershey were worth $1,207,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of HSY. Vanguard Group Inc. lifted its holdings in shares of Hershey by 14.2% during 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. International Assets Investment Management LLC raised its position in Hershey by 30,461.7% in the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock worth $1,100,130,000 after purchasing an additional 571,766 shares in the last quarter. Confluence Investment Management LLC lifted its stake in Hershey by 297.9% during the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after purchasing an additional 537,419 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Hershey during the second quarter valued at approximately $82,123,000. Finally, Mercer Global Advisors Inc. ADV grew its stake in shares of Hershey by 1,194.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock valued at $45,837,000 after purchasing an additional 230,077 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Insider Buying and Selling

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $644,912.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by insiders.

Hershey Stock Performance

Shares of NYSE:HSY opened at $179.00 on Tuesday. 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 $176.78 and a 1-year high of $211.92. The stock has a market capitalization of $36.21 billion, a P/E ratio of 19.89, a P/E/G ratio of 4.13 and a beta of 0.38. The business has a 50-day moving average price of $190.41 and a two-hundred day moving average price of $192.49.

Analyst Ratings Changes

HSY has been the subject of several analyst reports. Stifel Nicolaus cut their target price on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Jefferies Financial Group reduced their target price on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research note on Thursday, October 31st. Citigroup cut shares of Hershey from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $195.00 to $182.00 in a research report on Tuesday, August 27th. Bank of America reduced their price target on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada dropped their price objective 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. 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, Hershey has an average rating of “Hold” and an average price target of $191.61.

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.