Savoir Faire Capital Management L.P. Raises Holdings in The Hershey Company (NYSE:HSY)

Savoir Faire Capital Management L.P. raised its holdings in The Hershey Company (NYSE:HSY) by 8.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,072 shares of the company’s stock after purchasing an additional 4,747 shares during the quarter. Hershey accounts for 4.1% of Savoir Faire Capital Management L.P.’s investment portfolio, making the stock its 4th largest position. Savoir Faire Capital Management L.P.’s holdings in Hershey were worth $10,675,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in HSY. Vanguard Group Inc. grew its position in Hershey by 14.2% during the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock valued at $3,372,965,000 after buying an additional 2,158,912 shares during the period. Norges Bank purchased a new position in Hershey in the fourth quarter valued at about $349,448,000. Confluence Investment Management LLC grew its position in shares of Hershey by 297.9% during the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after acquiring an additional 537,419 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in shares of Hershey during the 2nd quarter worth approximately $82,123,000. Finally, Bryn Mawr Capital Management LLC raised its holdings in shares of Hershey by 3,404.3% in the 1st quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock worth $49,879,000 after purchasing an additional 249,129 shares during the period. 57.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction on 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 directly owns 35,728 shares of the company’s stock, valued at approximately $6,535,723.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Jennifer Mccalman sold 538 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $199.17, for a total transaction of $107,153.46. Following the transaction, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $182.93, for a total value of $274,395.00. Following the transaction, the chief financial officer now directly owns 35,728 shares in the company, valued at $6,535,723.04. The disclosure for this sale can be found here. Insiders have sold 3,538 shares of company stock valued at $667,793 in the last quarter. Insiders own 0.34% of the company’s stock.

Hershey Price Performance

Hershey stock opened at $200.81 on Tuesday. The stock has a market cap 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 company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The business has a 50-day simple moving average of $195.43 and a 200 day simple moving average of $193.83. The Hershey Company has a 52 week low of $178.82 and a 52 week high of $213.72.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. The business’s revenue was down 16.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.01 EPS. On average, research analysts forecast that The Hershey Company will post 9.5 earnings per share for the current fiscal year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were paid 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 dividend payout ratio is presently 54.31%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Bank of America reduced their price objective on Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. JPMorgan Chase & Co. increased their price target on Hershey from $183.00 to $188.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Wells Fargo & Company lowered their price objective on Hershey from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Friday, June 21st. Argus lowered shares of Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada lowered their price target on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.