Mackenzie Financial Corp Trims Position in The Hershey Company (NYSE:HSY)

Mackenzie Financial Corp lessened its holdings in shares of The Hershey Company (NYSE:HSY) by 13.3% during the second quarter, HoldingsChannel reports. The firm owned 69,094 shares of the company’s stock after selling 10,614 shares during the quarter. Mackenzie Financial Corp’s holdings in Hershey were worth $12,702,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Capital Advisors Ltd. LLC lifted its stake in shares of 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 purchasing an additional 96 shares during the period. GHP Investment Advisors Inc. lifted its stake in shares of Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares during the period. Riverview Trust Co acquired a new stake in shares of Hershey during the 1st quarter worth $29,000. OFI Invest Asset Management acquired a new stake in shares of Hershey during the 2nd quarter worth $29,000. Finally, Quarry LP acquired a new stake in shares of Hershey during the 4th quarter worth $34,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on HSY. Wells Fargo & Company dropped their price objective on Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Friday, June 21st. Bank of America lowered their price target on Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Sanford C. Bernstein lowered their price target on Hershey from $237.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Jefferies Financial Group downgraded Hershey from a “hold” rating to an “underperform” rating and lowered their price target for the company from $184.00 to $163.00 in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research report on Tuesday, September 10th. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $198.63.

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were 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 owns 34,228 shares of the company’s stock, valued at approximately $6,531,729.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Jennifer Mccalman sold 538 shares of the firm’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 transaction, the chief accounting officer now owns 3,238 shares in the company, valued at approximately $644,912.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total transaction of $286,245.00. Following the transaction, the chief financial officer now owns 34,228 shares in the company, valued at approximately $6,531,729.24. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Hershey Price Performance

Shares of NYSE:HSY opened at $193.36 on Monday. The firm’s 50 day moving average is $196.42 and its two-hundred day moving average is $193.98. The Hershey Company has a 52 week low of $178.82 and a 52 week high of $211.92. The firm has a market capitalization of $39.10 billion, a P/E ratio of 19.16, a PEG ratio of 5.67 and a beta of 0.37. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87.

Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.27 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 analyst estimates of $2.30 billion. During the same quarter in the prior year, the business earned $2.01 EPS. Hershey’s revenue was down 16.7% compared to the same quarter last year. Analysts anticipate that The Hershey Company will post 9.49 earnings per share for the current 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 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Friday, August 16th. Hershey’s dividend payout ratio is 54.31%.

Hershey 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.