Wealth Enhancement Advisory Services LLC Reduces Stake in Hershey Co (NYSE:HSY)

Wealth Enhancement Advisory Services LLC decreased its stake in shares of Hershey Co (NYSE:HSY) by 3.1% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 14,907 shares of the company’s stock after selling 475 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Hershey were worth $2,269,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in HSY. Berman Capital Advisors LLC increased its position in shares of Hershey by 172.8% during the 2nd quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock valued at $28,000 after purchasing an additional 140 shares during the last quarter. Trustcore Financial Services LLC bought a new position in shares of Hershey during the 1st quarter valued at about $29,000. Bremer Bank National Association bought a new position in shares of Hershey during the 1st quarter valued at about $34,000. Cornerstone Advisors Inc. increased its position in shares of Hershey by 37.3% during the 1st quarter. Cornerstone Advisors Inc. now owns 302 shares of the company’s stock valued at $35,000 after purchasing an additional 82 shares during the last quarter. Finally, Nelson Roberts Investment Advisors LLC bought a new position in shares of Hershey during the 1st quarter valued at about $41,000. Institutional investors and hedge funds own 53.89% of the company’s stock.

Several equities analysts recently issued reports on HSY shares. Stifel Nicolaus raised their price target on Hershey from $132.00 to $145.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. BMO Capital Markets raised their price target on Hershey to $133.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Goldman Sachs Group upgraded Hershey from a “sell” rating to a “neutral” rating and raised their price target for the stock from $86.00 to $142.00 in a research report on Wednesday, July 17th. Bank of America restated a “buy” rating and set a $165.00 price target (up from $152.00) on shares of Hershey in a research report on Friday, July 26th. Finally, Piper Jaffray Companies lowered Hershey from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $122.00 to $125.00 in a research report on Wednesday, June 19th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $138.71.

NYSE HSY traded up $2.98 on Thursday, hitting $155.40. The company’s stock had a trading volume of 40,210 shares, compared to its average volume of 1,374,817. Hershey Co has a 52-week low of $98.01 and a 52-week high of $156.69. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.48 and a current ratio of 0.88. The firm’s 50-day simple moving average is $145.09. The firm has a market capitalization of $32.67 billion, a price-to-earnings ratio of 28.75, a P/E/G ratio of 3.39 and a beta of 0.09.

Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, July 25th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.13. Hershey had a return on equity of 83.29% and a net margin of 15.51%. The business had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the business posted $1.14 EPS. The business’s revenue was up .9% on a year-over-year basis. As a group, sell-side analysts anticipate that Hershey Co will post 5.74 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 23rd will be issued a $0.773 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $3.09 annualized dividend and a yield of 1.99%. This is a boost from Hershey’s previous quarterly dividend of $0.72. Hershey’s dividend payout ratio (DPR) is 53.92%.

In other news, CEO Michele Buck sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $129.14, for a total value of $774,840.00. Following the completion of the transaction, the chief executive officer now owns 163,429 shares in the company, valued at approximately $21,105,221.06. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Hershey Trust Co Trustee In Tr sold 524,260 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $129.14, for a total value of $67,702,936.40. Following the completion of the transaction, the insider now owns 473,052 shares of the company’s stock, valued at approximately $61,089,935.28. The disclosure for this sale can be found here. In the last quarter, insiders acquired 3,100 shares of company stock valued at $401,990 and sold 661,336 shares valued at $86,643,260. Company insiders own 0.41% of the company’s stock.

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.

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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