Hershey Co (HSY) Shares Sold by CapWealth Advisors LLC

CapWealth Advisors LLC cut its holdings in shares of Hershey Co (NYSE:HSY) by 8.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,815 shares of the company’s stock after selling 4,078 shares during the period. CapWealth Advisors LLC’s holdings in Hershey were worth $3,984,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FTB Advisors Inc. boosted its position in Hershey by 108.4% in the 2nd quarter. FTB Advisors Inc. now owns 1,167 shares of the company’s stock valued at $107,000 after buying an additional 607 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in Hershey in the 2nd quarter valued at $121,000. Fort L.P. bought a new position in Hershey in the 2nd quarter valued at $123,000. Flagship Harbor Advisors LLC bought a new position in Hershey in the 2nd quarter valued at $130,000. Finally, grace capital bought a new position in Hershey in the 2nd quarter valued at $130,000. Institutional investors and hedge funds own 52.70% of the company’s stock.

A number of research analysts have commented on the company. Consumer Edge lowered Hershey from an “overweight” rating to an “equal weight” rating in a research report on Monday, July 9th. Zacks Investment Research downgraded Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Piper Jaffray Companies set a $100.00 price target on Hershey and gave the company a “hold” rating in a research note on Wednesday, August 29th. ValuEngine raised Hershey from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Finally, Stifel Nicolaus increased their price target on Hershey from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, July 27th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. Hershey presently has an average rating of “Hold” and an average price target of $102.78.

In related news, SVP Kevin R. Walling sold 30,835 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $101.18, for a total transaction of $3,119,885.30. Following the sale, the senior vice president now owns 57,611 shares of the company’s stock, valued at approximately $5,829,080.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michele Buck sold 1,500 shares of the firm’s stock in a transaction on Friday, July 20th. The stock was sold at an average price of $92.26, for a total value of $138,390.00. Following the sale, the insider now directly owns 175,394 shares in the company, valued at approximately $16,181,850.44. The disclosure for this sale can be found here. Insiders have sold a total of 33,835 shares of company stock worth $3,411,125 in the last ninety days. 0.92% of the stock is currently owned by company insiders.

Shares of Hershey stock opened at $105.97 on Friday. The firm has a market cap of $22.18 billion, a P/E ratio of 21.59, a price-to-earnings-growth ratio of 2.26 and a beta of 0.32. Hershey Co has a 12 month low of $89.10 and a 12 month high of $115.82. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.58 and a current ratio of 0.94.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, July 26th. The company reported $1.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.04. The business had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.74 billion. Hershey had a return on equity of 108.82% and a net margin of 13.40%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 EPS. analysts expect that Hershey Co will post 5.36 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 24th were paid a dividend of $0.722 per share. This represents a $2.89 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Thursday, August 23rd. This is an increase from Hershey’s previous quarterly dividend of $0.66. Hershey’s dividend payout ratio (DPR) is presently 60.71%.

Hershey Company Profile

The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.

Further Reading: What are the Different Types of Leveraged Buyouts?

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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