McGlone Suttner Wealth Management Inc. Boosts Holdings in The Hershey Company (NYSE:HSY)

McGlone Suttner Wealth Management Inc. grew its position in shares of The Hershey Company (NYSE:HSY) by 37.9% during the third quarter, HoldingsChannel reports. The firm owned 1,569 shares of the company’s stock after buying an additional 431 shares during the period. McGlone Suttner Wealth Management Inc.’s holdings in Hershey were worth $301,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Hershey by 14.2% during the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after buying an additional 2,158,912 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Hershey by 6.5% during the first quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock worth $289,327,000 after buying an additional 90,329 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Hershey by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock worth $144,743,000 after buying an additional 25,780 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Hershey by 23.2% in the second quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock worth $143,962,000 after purchasing an additional 147,215 shares during the period. Finally, Confluence Investment Management LLC boosted its holdings in Hershey by 297.9% in the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after purchasing an additional 537,419 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on HSY. Sanford C. Bernstein downgraded shares of Hershey from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $230.00 to $205.00 in a report on Monday, October 7th. UBS Group downgraded shares of Hershey from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $226.00 to $209.00 in a report on Monday, October 7th. Bank of America decreased 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. Piper Sandler reaffirmed a “neutral” rating and issued a $179.00 price objective on shares of Hershey in a report on Friday, June 21st. Finally, Barclays decreased their price objective on shares of Hershey from $204.00 to $202.00 and set an “equal weight” rating for the company in a report on Tuesday, September 24th. Four research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company’s stock. Based on data from MarketBeat, Hershey presently has an average rating of “Hold” and a consensus target price of $195.68.

Insiders Place Their Bets

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $199.17, for a total value of $107,153.46. Following the sale, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $199.17, for a total value of $107,153.46. Following the sale, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total transaction of $286,245.00. Following the completion of the sale, the chief financial officer now owns 34,228 shares in the company, valued at approximately $6,531,729.24. 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 owned by company insiders.

Hershey Price Performance

Shares of NYSE HSY opened at $185.98 on Monday. The Hershey Company has a fifty-two week low of $178.82 and a fifty-two week high of $211.92. The firm’s 50-day simple moving average is $195.48 and its 200 day simple moving average is $193.52. 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 stock has a market cap of $37.61 billion, a P/E ratio of 18.43, a P/E/G ratio of 5.44 and a beta of 0.37.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share 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 the consensus estimate of $2.30 billion. During the same quarter in the prior year, the firm earned $2.01 earnings per share. Hershey’s revenue for the quarter was down 16.7% compared to the same quarter last year. Equities analysts expect that The Hershey Company will post 9.47 EPS for the current year.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were given a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 2.95%. The ex-dividend date was Friday, August 16th. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

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.