Onyx Bridge Wealth Group LLC Invests $208,000 in The Hershey Company (NYSE:HSY)

Onyx Bridge Wealth Group LLC acquired a new stake in The Hershey Company (NYSE:HSY) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,084 shares of the company’s stock, valued at approximately $208,000.

A number of other institutional investors also recently added to or reduced their stakes in HSY. GHP Investment Advisors Inc. raised its stake in shares of Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after buying an additional 55 shares in the last quarter. Sound Income Strategies LLC grew its holdings in Hershey by 13.3% during the first quarter. Sound Income Strategies LLC now owns 486 shares of the company’s stock worth $95,000 after acquiring an additional 57 shares during the period. Burns J W & Co. Inc. NY raised its position in Hershey by 0.8% in the third quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock worth $1,411,000 after acquiring an additional 58 shares in the last quarter. Wesbanco Bank Inc. lifted its holdings in Hershey by 3.7% in the second quarter. Wesbanco Bank Inc. now owns 1,673 shares of the company’s stock valued at $308,000 after acquiring an additional 59 shares during the period. Finally, Brighton Jones LLC boosted its position in shares of Hershey by 2.3% during the 2nd quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after purchasing an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Insider Transactions at Hershey

In related news, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $199.17, for a total value 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the completion of the transaction, the chief accounting officer now owns 3,238 shares in the company, valued at $644,912.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HSY. Jefferies Financial Group downgraded shares of Hershey from a “hold” rating to an “underperform” rating and cut their price target for the company from $184.00 to $163.00 in a report on Thursday, September 26th. UBS Group downgraded shares of Hershey from a “buy” rating to a “neutral” rating and reduced their price target for the company from $226.00 to $209.00 in a research report on Monday, October 7th. Argus cut Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Piper Sandler reaffirmed a “neutral” rating and set a $179.00 price objective on shares of Hershey in a report on Friday, June 21st. Finally, The Goldman Sachs Group started coverage on Hershey in a report on Monday, August 12th. They issued a “sell” rating and a $185.00 target price on the stock. Four analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $195.00.

Hershey Stock Performance

Shares of HSY opened at $185.68 on Friday. The company has a market capitalization of $37.55 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 5.44 and a beta of 0.37. 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 Hershey Company has a 1 year low of $178.82 and a 1 year high of $211.92. The company’s 50 day simple moving average is $194.01 and its 200 day simple moving average is $193.18.

Hershey (NYSE:HSY) last posted 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 business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. Hershey’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.01 EPS. On average, sell-side analysts predict that The Hershey Company will post 9.47 EPS for the current year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date was Friday, August 16th. Hershey’s dividend payout ratio is currently 54.31%.

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.