Providence Capital Advisors LLC Boosts Stock Position in The Hershey Company (NYSE:HSY)

Providence Capital Advisors LLC raised its stake in The Hershey Company (NYSE:HSY) by 1.0% during the 2nd quarter, Holdings Channel.com reports. The firm owned 33,754 shares of the company’s stock after buying an additional 334 shares during the quarter. Hershey accounts for 1.4% of Providence Capital Advisors LLC’s investment portfolio, making the stock its 22nd biggest holding. Providence Capital Advisors LLC’s holdings in Hershey were worth $6,205,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew its stake in Hershey by 218.2% in the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. GHP Investment Advisors Inc. grew its stake in shares of Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after acquiring an additional 55 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of Hershey during the first quarter worth about $29,000. OFI Invest Asset Management purchased a new stake in shares of Hershey during the second quarter worth about $29,000. Finally, Quarry LP purchased a new stake in shares of Hershey during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Trading Down 0.2 %

Shares of HSY stock opened at $195.12 on Tuesday. 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 company has a market cap of $39.46 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 5.77 and a beta of 0.37. The stock has a 50 day simple moving average of $196.42 and a 200-day simple moving average of $194.10. The Hershey Company has a 1-year low of $178.82 and a 1-year high of $211.92.

Hershey (NYSE:HSY) last announced 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). The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. The company’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.01 earnings per share. On average, equities research analysts expect that The Hershey Company will post 9.5 EPS for the current fiscal year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were paid a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 2.81%. The ex-dividend date was Friday, August 16th. Hershey’s dividend payout ratio is currently 54.31%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HSY shares. Citigroup lowered Hershey from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $195.00 to $182.00 in a research note on Tuesday, August 27th. The Goldman Sachs Group assumed coverage on Hershey in a research report on Monday, August 12th. They issued a “sell” rating and a $185.00 target price on the stock. Piper Sandler reiterated a “neutral” rating and issued a $179.00 target price on shares of Hershey in a research report on Friday, June 21st. Bank of America dropped their target price on Hershey from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. upped their target price on Hershey from $183.00 to $188.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $200.72.

Insider Activity at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total value of $286,245.00. Following the completion of the transaction, the chief financial officer now directly owns 34,228 shares of the company’s stock, valued at approximately $6,531,729.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total value of $286,245.00. Following the completion of the transaction, the chief financial officer now directly owns 34,228 shares of the company’s stock, valued at approximately $6,531,729.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Jennifer Mccalman sold 538 shares of the 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 completion of the transaction, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at $644,912.46. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

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.