Axxcess Wealth Management LLC Has $2.83 Million Stock Holdings in The Hershey Company (NYSE:HSY)

Axxcess Wealth Management LLC lowered its holdings in The Hershey Company (NYSE:HSY) by 22.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,573 shares of the company’s stock after selling 4,110 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Hershey were worth $2,834,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new stake in shares of Hershey in the first quarter worth $29,000. Highlander Capital Management LLC boosted its holdings in Hershey by 125.3% in the 4th quarter. Highlander Capital Management LLC now owns 169 shares of the company’s stock valued at $32,000 after purchasing an additional 94 shares during the period. Rakuten Securities Inc. acquired a new stake in Hershey in the 4th quarter worth $32,000. Crewe Advisors LLC bought a new position in shares of Hershey during the 1st quarter worth about $35,000. Finally, Quarry LP acquired a new position in shares of Hershey during the fourth quarter valued at about $34,000. 57.96% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was 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 of the company’s stock, valued at $6,531,729.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders sold 4,500 shares of company stock valued at $867,450. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

HSY has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lowered their price target on Hershey from $197.00 to $192.00 and set a “hold” rating on the stock in a research note on Tuesday. Argus cut their target price on Hershey from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Sanford C. Bernstein decreased their price target on shares of Hershey from $237.00 to $230.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 17th. Piper Sandler restated a “neutral” rating and issued a $179.00 price objective on shares of Hershey in a research note on Friday, June 21st. Finally, Bank of America decreased their target price on shares of Hershey from $210.00 to $200.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $204.89.

Hershey Price Performance

Hershey stock traded up $0.86 on Friday, reaching $193.53. The company’s stock had a trading volume of 1,502,758 shares, compared to its average volume of 1,850,418. The business’s fifty day moving average price is $190.85 and its 200 day moving average price is $192.51. The company has a market cap of $39.14 billion, a price-to-earnings ratio of 19.10, a PEG ratio of 4.78 and a beta of 0.36. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.64 and a current ratio of 0.97. The Hershey Company has a twelve month low of $178.82 and a twelve month high of $238.09.

Hershey (NYSE:HSY) last announced its earnings results on Friday, May 3rd. The company reported $3.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.33. Hershey had a net margin of 18.13% and a return on equity of 50.15%. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the previous year, the firm posted $2.96 earnings per share. The company’s revenue was up 8.9% on a year-over-year basis. Equities analysts expect that The Hershey Company will post 9.58 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 17th were given a $1.37 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $5.48 dividend on an annualized basis and a yield of 2.83%. Hershey’s payout ratio is 54.31%.

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.