Gallacher Capital Management LLC Has $889,000 Stock Holdings in The Hershey Company (NYSE:HSY)

Gallacher Capital Management LLC increased its stake in The Hershey Company (NYSE:HSY) by 305.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,838 shares of the company’s stock after acquiring an additional 3,645 shares during the quarter. Gallacher Capital Management LLC’s holdings in Hershey were worth $889,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Hershey by 14.2% in the 1st 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 during the last quarter. Norges Bank acquired a new position in Hershey in the fourth quarter valued at $349,448,000. Confluence Investment Management LLC boosted its position in Hershey by 297.9% during the second 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 last quarter. Bryn Mawr Capital Management LLC grew its holdings in Hershey by 3,404.3% during the 1st quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock worth $49,879,000 after acquiring an additional 249,129 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Hershey by 98.4% in 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 in the last quarter. 57.96% of the stock is currently owned by institutional investors.

Hershey Stock Performance

NYSE HSY opened at $199.80 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48. The company has a fifty day moving average price of $193.40 and a 200-day moving average price of $193.35. The Hershey Company has a 1 year low of $178.82 and a 1 year high of $213.85. The firm has a market cap of $40.41 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 5.60 and a beta of 0.37.

Hershey (NYSE:HSY) last posted its quarterly earnings data 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 net margin of 16.76% and a return on equity of 45.36%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter last year, the business posted $2.01 EPS. The company’s quarterly revenue was down 16.7% on a year-over-year basis. As a group, equities research analysts predict that The Hershey Company will post 9.5 EPS for the current fiscal year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be given a $1.37 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $5.48 annualized dividend and a yield of 2.74%. Hershey’s dividend payout ratio is currently 54.31%.

Insider Buying and Selling at Hershey

In other news, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction 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 sale, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total transaction of $286,245.00. Following the completion of the transaction, the chief financial officer now directly owns 34,228 shares of the company’s stock, valued at approximately $6,531,729.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jennifer Mccalman sold 538 shares of Hershey 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 completion of the sale, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. The disclosure for this sale can be found here. Insiders sold 3,538 shares of company stock worth $667,793 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Analyst Ratings Changes

HSY has been the topic of several research analyst reports. Royal Bank of Canada cut their target price on Hershey from $209.00 to $205.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. The Goldman Sachs Group initiated coverage on shares of Hershey in a research report on Monday, August 12th. They set a “sell” rating and a $185.00 price objective for the company. Wells Fargo & Company lowered their price objective on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Friday, June 21st. Argus lowered shares of Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Hershey from $192.00 to $191.00 and set a “hold” rating for the company in a research note 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $202.79.

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.