NorthCrest Asset Manangement LLC Acquires 162 Shares of The Hershey Company (NYSE:HSY)

NorthCrest Asset Manangement LLC grew its holdings in shares of The Hershey Company (NYSE:HSY) by 1.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,722 shares of the company’s stock after acquiring an additional 162 shares during the period. NorthCrest Asset Manangement LLC’s holdings in Hershey were worth $2,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted 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 purchasing an additional 2,158,912 shares in the last quarter. Norges Bank purchased a new position in shares of Hershey during the 4th quarter valued at about $349,448,000. Confluence Investment Management LLC grew its stake 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. Bryn Mawr Capital Management LLC grew its stake in shares of Hershey by 3,404.3% during the 1st quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock valued at $49,879,000 after acquiring an additional 249,129 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Hershey by 98.4% during the 1st quarter. Principal Financial Group Inc. now owns 419,947 shares of the company’s stock worth $81,680,000 after acquiring an additional 208,293 shares during the period. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Price Performance

Shares of NYSE:HSY traded up $2.08 on Wednesday, reaching $201.54. The company’s stock had a trading volume of 313,756 shares, compared to its average volume of 1,836,487. The company has a 50-day simple moving average of $190.27 and a 200 day simple moving average of $193.20. The Hershey Company has a 52-week low of $178.82 and a 52-week high of $224.10. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.64 and a current ratio of 0.86. The company has a market cap of $40.76 billion, a P/E ratio of 19.77, a PEG ratio of 4.96 and a beta of 0.36.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.17). Hershey had a return on equity of 45.36% and a net margin of 16.76%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter in the prior year, the business posted $2.01 EPS. The company’s revenue was down 16.7% on a year-over-year basis. As a group, equities research analysts anticipate that The Hershey Company will post 9.59 EPS for the current fiscal year.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 2.72%. The ex-dividend date of this dividend is Friday, August 16th. Hershey’s dividend payout ratio is currently 54.31%.

Insider Activity at Hershey

In other Hershey 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 transaction, the chief financial officer now directly owns 35,728 shares of the company’s stock, valued at $6,535,723.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Jennifer Mccalman sold 538 shares of the company’s stock in a transaction that occurred on 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 owns 3,238 shares of the company’s stock, valued at $644,912.46. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $182.93, for a total value of $274,395.00. Following the sale, the chief financial officer now directly owns 35,728 shares of the company’s stock, valued at $6,535,723.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,038 shares of company stock worth $974,603. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Barclays dropped their price target on shares of Hershey from $210.00 to $204.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 18th. Edward Jones reaffirmed a “hold” rating on shares of Hershey in a report on Friday, April 19th. Bank of America decreased their price target on Hershey from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. The Goldman Sachs Group assumed coverage on Hershey in a research note on Monday. They issued a “sell” rating and a $185.00 price objective for the company. Finally, Wells Fargo & Company decreased their target price 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. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $203.47.

Hershey 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.