McKinley Carter Wealth Services Inc. Sells 150 Shares of The Hershey Company (NYSE:HSY)

McKinley Carter Wealth Services Inc. lowered its position in shares of The Hershey Company (NYSE:HSY) by 9.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,451 shares of the company’s stock after selling 150 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in The Hershey were worth $253,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of HSY. Regentatlantic Capital LLC acquired a new position in shares of The Hershey during the second quarter valued at about $237,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of The Hershey by 47.0% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 147,685 shares of the company’s stock valued at $25,724,000 after purchasing an additional 47,227 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of The Hershey by 1.9% during the second quarter. Commonwealth Equity Services LLC now owns 67,279 shares of the company’s stock valued at $11,718,000 after purchasing an additional 1,279 shares during the period. Baird Financial Group Inc. raised its holdings in shares of The Hershey by 2.1% during the second quarter. Baird Financial Group Inc. now owns 48,378 shares of the company’s stock valued at $8,426,000 after purchasing an additional 1,017 shares during the period. Finally, Cascadia Advisory Services LLC raised its holdings in shares of The Hershey by 3.5% during the second quarter. Cascadia Advisory Services LLC now owns 14,797 shares of the company’s stock valued at $2,577,000 after purchasing an additional 495 shares during the period. 52.34% of the stock is currently owned by institutional investors and hedge funds.

HSY opened at $174.04 on Friday. The company has a 50 day moving average of $177.28 and a 200 day moving average of $170.60. The company has a market cap of $35.86 billion, a PE ratio of 25.30, a price-to-earnings-growth ratio of 3.30 and a beta of 0.36. The Hershey Company has a 12 month low of $135.83 and a 12 month high of $182.71. The company has a current ratio of 1.40, a quick ratio of 0.73 and a debt-to-equity ratio of 1.80.

The Hershey (NYSE:HSY) last posted its earnings results on Thursday, July 29th. The company reported $1.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.42 by $0.05. The Hershey had a net margin of 16.52% and a return on equity of 63.62%. The business had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Research analysts forecast that The Hershey Company will post 6.92 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Friday, August 20th were paid a $0.901 dividend. The ex-dividend date of this dividend was Thursday, August 19th. This is a boost from The Hershey’s previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a yield of 2.07%. The Hershey’s dividend payout ratio is currently 57.23%.

Several equities analysts have recently weighed in on the stock. Morgan Stanley assumed coverage on shares of The Hershey in a report on Tuesday. They set a “hold” rating and a $180.00 price objective on the stock. Royal Bank of Canada upped their target price on shares of The Hershey from $188.00 to $189.00 and gave the stock an “outperform” rating in a report on Friday, July 30th. Piper Sandler upped their target price on shares of The Hershey from $182.00 to $194.00 and gave the stock an “overweight” rating in a report on Friday, July 30th. Deutsche Bank Aktiengesellschaft upped their target price on shares of The Hershey from $166.00 to $173.00 and gave the stock a “hold” rating in a report on Thursday, July 22nd. Finally, Credit Suisse Group upped their target price on shares of The Hershey from $180.00 to $194.00 and gave the stock an “outperform” rating in a report on Friday, July 30th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, The Hershey currently has an average rating of “Buy” and a consensus target price of $177.50.

In other news, Director Pamela M. Arway sold 319 shares of the firm’s stock in a transaction on Thursday, July 8th. The shares were sold at an average price of $175.88, for a total transaction of $56,105.72. Following the sale, the director now owns 15,861 shares in the company, valued at approximately $2,789,632.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michele Buck sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $177.93, for a total transaction of $889,650.00. Following the sale, the chief executive officer now owns 175,497 shares in the company, valued at approximately $31,226,181.21. The disclosure for this sale can be found here. Insiders sold a total of 15,079 shares of company stock worth $2,674,010 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

The Hershey Company Profile

The Hershey Co engages in the manufacture and market of chocolate and sugar confectionery products. The firm operates through the following geographical segments: North America; and International and Other. The North America segment is responsible for the traditional chocolate and non-chocolate confectionery market position of the company, as well as its grocery and snacks market positions, in the United States and Canada.

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Institutional Ownership by Quarter for The Hershey (NYSE:HSY)

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