Farther Finance Advisors LLC Sells 1,422 Shares of The Hershey Company (NYSE:HSY)

Farther Finance Advisors LLC cut its stake in The Hershey Company (NYSE:HSY) by 18.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,369 shares of the company’s stock after selling 1,422 shares during the period. Farther Finance Advisors LLC’s holdings in Hershey were worth $1,221,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of HSY. Weatherly Asset Management L. P. increased its holdings in shares of Hershey by 4.0% in the third quarter. Weatherly Asset Management L. P. now owns 2,812 shares of the company’s stock valued at $539,000 after purchasing an additional 107 shares in the last quarter. Silver Coast Investments LLC increased its stake in shares of Hershey by 27.3% in the 3rd quarter. Silver Coast Investments LLC now owns 3,768 shares of the company’s stock valued at $723,000 after buying an additional 809 shares during the period. Absher Wealth Management LLC raised its position in shares of Hershey by 5.3% during the third quarter. Absher Wealth Management LLC now owns 18,036 shares of the company’s stock worth $3,459,000 after acquiring an additional 900 shares during the last quarter. Financial Advocates Investment Management lifted its stake in shares of Hershey by 7.4% during the third quarter. Financial Advocates Investment Management now owns 2,126 shares of the company’s stock valued at $408,000 after acquiring an additional 147 shares during the period. Finally, Oak Harvest Investment Services boosted its holdings in Hershey by 10.8% in the third quarter. Oak Harvest Investment Services now owns 38,225 shares of the company’s stock valued at $7,331,000 after acquiring an additional 3,732 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was 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 $644,912.46. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Argus downgraded shares of Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Jefferies Financial Group cut their price objective on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a report on Thursday. Sanford C. Bernstein lowered shares of Hershey from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $230.00 to $205.00 in a report on Monday, October 7th. Stifel Nicolaus cut their price target on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Finally, Piper Sandler reduced their price target on Hershey from $179.00 to $165.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Five analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $191.61.

Hershey Price Performance

NYSE HSY opened at $179.26 on Monday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.48 and a current ratio of 0.86. The stock has a market cap of $36.26 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 4.09 and a beta of 0.38. The business has a 50 day simple moving average of $190.76 and a 200 day simple moving average of $192.53. The Hershey Company has a 52-week low of $176.78 and a 52-week high of $211.92.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.17). The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. The firm’s revenue was down 16.7% on a year-over-year basis. During the same period in the prior year, the company earned $2.01 EPS. Analysts anticipate that The Hershey Company will post 9.42 earnings per share for the current fiscal year.

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.