Leavell Investment Management Inc. Has $1.87 Million Stake in The Hershey Company (NYSE:HSY)

Leavell Investment Management Inc. lowered its stake in The Hershey Company (NYSE:HSY) by 1.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 9,744 shares of the company’s stock after selling 100 shares during the quarter. Leavell Investment Management Inc.’s holdings in Hershey were worth $1,869,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Norden Group LLC bought a new stake in Hershey during the first quarter worth approximately $374,000. Envestnet Portfolio Solutions Inc. lifted its stake in shares of Hershey by 54.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 9,715 shares of the company’s stock worth $1,889,000 after buying an additional 3,445 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Hershey by 239.2% in the first quarter. SG Americas Securities LLC now owns 22,035 shares of the company’s stock worth $4,286,000 after buying an additional 15,538 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in shares of Hershey by 29.7% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,119 shares of the company’s stock worth $2,163,000 after buying an additional 2,544 shares during the period. Finally, Forsta AP Fonden grew its stake in Hershey by 9.6% in the 1st quarter. Forsta AP Fonden now owns 39,800 shares of the company’s stock valued at $7,741,000 after buying an additional 3,500 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Insider Activity

In related news, CAO Jennifer Mccalman sold 538 shares of the firm’s 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 completion of the sale, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at $644,912.46. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group decreased their price target on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a report on Thursday, October 31st. Argus downgraded Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Redburn Atlantic assumed coverage on Hershey in a research report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price target on the stock. The Goldman Sachs Group initiated coverage on Hershey in a research report on Monday, August 12th. They issued a “sell” rating and a $185.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their target price on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Five research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $190.56.

Hershey Trading Up 1.6 %

HSY stock opened at $175.67 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87. The firm has a market cap of $35.54 billion, a P/E ratio of 19.52, a P/E/G ratio of 4.09 and a beta of 0.38. The Hershey Company has a 1-year low of $171.67 and a 1-year high of $211.92. The business’s 50 day moving average is $189.17 and its 200-day moving average is $192.13.

Hershey (NYSE:HSY) last posted its earnings results on Thursday, November 7th. The company reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.16). The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.07 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. Equities analysts anticipate that The Hershey Company will post 9.39 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Monday, November 18th. Hershey’s payout ratio is 60.89%.

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.