Quarry LP Has $55,000 Stake in The Hershey Company (NYSE:HSY)

Quarry LP boosted its stake in shares of The Hershey Company (NYSE:HSY) by 123.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 300 shares of the company’s stock after buying an additional 166 shares during the quarter. Quarry LP’s holdings in Hershey were worth $55,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capital Advisors Ltd. LLC lifted its stake in shares of Hershey by 218.2% in the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after acquiring an additional 96 shares during the period. GHP Investment Advisors Inc. lifted 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 worth $28,000 after purchasing an additional 55 shares during the period. Riverview Trust Co bought a new stake in shares of Hershey in the 1st quarter valued at $29,000. OFI Invest Asset Management acquired a new stake in shares of Hershey during the second quarter worth $29,000. Finally, Crewe Advisors LLC acquired a new position in Hershey in the first quarter valued at $35,000. Institutional investors own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on HSY shares. Piper Sandler reaffirmed a “neutral” rating and set a $179.00 price objective on shares of Hershey in a research report on Friday, June 21st. JPMorgan Chase & Co. upped their target price on Hershey from $183.00 to $188.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Bank of America reduced their price objective on shares of Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. The Goldman Sachs Group initiated coverage on shares of Hershey in a research report on Monday, August 12th. They issued a “sell” rating and a $185.00 price target on the stock. Finally, Jefferies Financial Group lowered Hershey from a “hold” rating to an “underperform” rating and decreased their price objective for the stock from $184.00 to $163.00 in a report on Thursday, September 26th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Hershey presently has an average rating of “Hold” and a consensus target price of $198.63.

Hershey Price Performance

NYSE HSY opened at $191.78 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The company has a market cap of $38.78 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 5.67 and a beta of 0.37. The Hershey Company has a 52 week low of $178.82 and a 52 week high of $211.92. The firm’s 50-day simple moving average is $196.42 and its two-hundred day simple moving average is $193.88.

Hershey (NYSE:HSY) last announced its quarterly earnings results 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 business had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter in the previous year, the company posted $2.01 earnings per share. The business’s quarterly revenue was down 16.7% compared to the same quarter last year. Research analysts predict that The Hershey Company will post 9.49 earnings per share for the current year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were given a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 2.86%. The ex-dividend date of this dividend was Friday, August 16th. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

Insider Activity at Hershey

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction dated 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 owns 34,228 shares in the company, valued at $6,531,729.24. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the 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 sale, the chief financial officer now directly owns 34,228 shares in the company, valued at $6,531,729.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at $644,912.46. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

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.