Parallel Advisors LLC Decreases Stock Holdings in The Hershey Company (NYSE:HSY)

Parallel Advisors LLC lessened its stake in The Hershey Company (NYSE:HSY) by 4.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,443 shares of the company’s stock after selling 208 shares during the period. Parallel Advisors LLC’s holdings in Hershey were worth $817,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake 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 in the last quarter. Norges Bank acquired a new position in shares of Hershey during the fourth quarter worth $349,448,000. Janus Henderson Group PLC lifted its holdings in shares of 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 during the last quarter. Vontobel Asset Management Inc. boosted its position in shares of Hershey by 16.8% in the 4th quarter. Vontobel Asset Management Inc. now owns 781,967 shares of the company’s stock worth $151,715,000 after purchasing an additional 112,304 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in Hershey by 13.6% during the 4th quarter. Stifel Financial Corp now owns 748,194 shares of the company’s stock worth $139,503,000 after buying an additional 89,586 shares during the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $6,535,723.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $182.93, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the completion of the transaction, the chief accounting officer now directly owns 3,238 shares in the company, valued at $644,912.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,538 shares of company stock worth $667,793. 0.34% of the stock is owned by corporate insiders.

Hershey Price Performance

Shares of NYSE HSY opened at $200.81 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 stock 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. The firm’s 50 day simple moving average is $195.43 and its 200-day simple moving average is $193.83. The Hershey Company has a 12 month low of $178.82 and a 12 month high of $213.72.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.17). The firm 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 firm’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.01 EPS. Analysts expect that The Hershey Company will post 9.5 EPS for the current year.

Hershey Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HSY. Barclays lowered their price target on Hershey from $210.00 to $204.00 and set an “equal weight” rating for the company in a report on Tuesday, June 18th. The Goldman Sachs Group started coverage on shares of Hershey in a research report on Monday, August 12th. They set a “sell” rating and a $185.00 target price on the stock. 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 report on Tuesday, September 10th. Argus lowered shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Finally, Piper Sandler restated a “neutral” rating and issued a $179.00 target price on shares of Hershey in a research note on Friday, June 21st. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $203.21.

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.