Independent Wealth Network Inc. Decreases Stock Position in The Hershey Company (NYSE:HSY)

Independent Wealth Network Inc. lessened its stake in The Hershey Company (NYSE:HSY) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,067 shares of the company’s stock after selling 94 shares during the quarter. Independent Wealth Network Inc.’s holdings in Hershey were worth $1,016,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Hershey during the 4th quarter valued at approximately $411,828,000. GQG Partners LLC purchased a new position in shares of Hershey during the 1st quarter valued at approximately $382,212,000. Wellington Management Group LLP boosted its stake in shares of Hershey by 2,693.0% during the 1st quarter. Wellington Management Group LLP now owns 1,094,755 shares of the company’s stock valued at $237,156,000 after buying an additional 1,055,559 shares during the last quarter. Morgan Stanley boosted its stake in shares of Hershey by 57.2% during the 4th quarter. Morgan Stanley now owns 2,648,666 shares of the company’s stock valued at $613,352,000 after buying an additional 964,019 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Hershey by 36.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,378,426 shares of the company’s stock valued at $319,202,000 after buying an additional 369,940 shares during the last quarter. Hedge funds and other institutional investors own 56.47% of the company’s stock.

Insider Activity at Hershey

In other Hershey news, CEO Michele Buck sold 14,251 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $238.73, for a total value of $3,402,141.23. Following the sale, the chief executive officer now owns 111,751 shares of the company’s stock, valued at approximately $26,678,316.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Hershey news, CEO Michele Buck sold 14,251 shares of the firm’s stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $238.73, for a total value of $3,402,141.23. Following the sale, the chief executive officer now owns 111,751 shares of the company’s stock, valued at approximately $26,678,316.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Hershey Trust Co Trustee In Tr sold 30,988 shares of Hershey stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $260.14, for a total value of $8,061,218.32. Following the sale, the insider now directly owns 2,083,359 shares in the company, valued at approximately $541,965,010.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,218 shares of company stock valued at $14,510,436. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on HSY. StockNews.com began coverage on Hershey in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Argus dropped their price target on Hershey from $315.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, August 11th. Deutsche Bank Aktiengesellschaft dropped their price target on Hershey from $264.00 to $262.00 in a research report on Monday, July 17th. Morgan Stanley dropped their target price on Hershey from $270.00 to $245.00 in a research report on Friday, July 28th. Finally, BNP Paribas raised Hershey from a “neutral” rating to an “outperform” rating and set a $268.00 price target on the stock in a report on Wednesday, July 19th. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Hershey presently has an average rating of “Hold” and an average price target of $264.11.

Hershey Stock Down 0.5 %

Shares of HSY traded down $0.98 during midday trading on Tuesday, reaching $211.48. 292,953 shares of the stock were exchanged, compared to its average volume of 1,119,899. The Hershey Company has a 12-month low of $206.69 and a 12-month high of $276.88. The firm has a 50 day simple moving average of $225.21 and a 200-day simple moving average of $245.89. The company has a quick ratio of 0.55, a current ratio of 1.06 and a debt-to-equity ratio of 1.11. The company has a market cap of $43.24 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 2.60 and a beta of 0.29.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, July 27th. The company reported $2.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.89 by $0.12. Hershey had a return on equity of 55.74% and a net margin of 16.49%. The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same period last year, the business earned $1.80 EPS. The firm’s revenue was up 5.0% compared to the same quarter last year. Research analysts forecast that The Hershey Company will post 9.55 EPS for the current year.

Hershey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 18th were paid a $1.192 dividend. This represents a $4.77 dividend on an annualized basis and a dividend yield of 2.25%. This is an increase from Hershey’s previous quarterly dividend of $1.04. The ex-dividend date was Thursday, August 17th. Hershey’s dividend payout ratio (DPR) is presently 54.89%.

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; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.