Valeo Financial Advisors LLC Cuts Stock Position in Hershey Company (The) $HSY

Valeo Financial Advisors LLC lowered its holdings in Hershey Company (The) (NYSE:HSY) by 17.6% during the 4th quarter, Holdings Channel reports. The firm owned 12,368 shares of the company’s stock after selling 2,644 shares during the period. Valeo Financial Advisors LLC’s holdings in Hershey were worth $2,251,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPL Wealth Management LLC purchased a new position in Hershey in the third quarter worth $26,000. Laurel Wealth Advisors LLC purchased a new position in Hershey in the fourth quarter worth $27,000. Measured Wealth Private Client Group LLC purchased a new position in Hershey in the third quarter worth $35,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Hershey in the fourth quarter worth $42,000. Finally, Close Asset Management Ltd boosted its position in Hershey by 339.3% in the third quarter. Close Asset Management Ltd now owns 246 shares of the company’s stock worth $46,000 after purchasing an additional 190 shares during the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Insider Buying and Selling

In other news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $194.10, for a total value of $291,150.00. Following the completion of the transaction, the chief financial officer directly owned 57,695 shares in the company, valued at approximately $11,198,599.50. This represents a 2.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Rohit Grover sold 3,500 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $226.07, for a total value of $791,245.00. Following the completion of the transaction, the insider owned 34,568 shares of the company’s stock, valued at $7,814,787.76. The trade was a 9.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 10,000 shares of company stock worth $2,189,090 over the last ninety days. 0.08% of the stock is owned by corporate insiders.

Hershey Stock Performance

NYSE:HSY opened at $189.47 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 1.24. Hershey Company has a 52-week low of $150.04 and a 52-week high of $239.48. The firm has a market cap of $38.43 billion, a price-to-earnings ratio of 35.28, a PEG ratio of 1.12 and a beta of 0.07. The business’s fifty day moving average is $206.11 and its 200 day moving average is $196.75.

Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, April 30th. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.31. Hershey had a return on equity of 28.98% and a net margin of 9.12%.The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same period in the previous year, the company posted $2.09 EPS. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. Research analysts predict that Hershey Company will post 8.45 EPS for the current year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be given a dividend of $1.452 per share. This represents a $5.81 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, May 15th. Hershey’s payout ratio is presently 108.19%.

Analysts Set New Price Targets

Several research firms have weighed in on HSY. Piper Sandler reissued an “overweight” rating and issued a $249.00 price objective on shares of Hershey in a research report on Wednesday, February 25th. Sanford C. Bernstein reissued a “market perform” rating and issued a $250.00 price objective on shares of Hershey in a research report on Friday, February 6th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $185.00 price objective on shares of Hershey in a research report on Tuesday, February 3rd. JPMorgan Chase & Co. lowered their target price on Hershey from $211.00 to $204.00 and set a “neutral” rating on the stock in a research note on Friday, May 1st. Finally, Barclays lowered their target price on Hershey from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat, Hershey currently has a consensus rating of “Hold” and a consensus price target of $218.33.

Hershey Company Profile

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.