SevenBridge Financial Group LLC Has $5.91 Million Stake in The Hershey Company (NYSE:HSY)

SevenBridge Financial Group LLC lessened its stake in shares of The Hershey Company (NYSE:HSY) by 0.5% in the 3rd quarter, Holdings Channel reports. The firm owned 34,896 shares of the company’s stock after selling 189 shares during the period. Hershey makes up 2.0% of SevenBridge Financial Group LLC’s investment portfolio, making the stock its 10th largest holding. SevenBridge Financial Group LLC’s holdings in Hershey were worth $5,906,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Alaethes Wealth LLC bought a new position in shares of Hershey in the 2nd quarter valued at about $26,000. Penserra Capital Management LLC bought a new stake in Hershey in the second quarter worth about $30,000. Parisi Gray Wealth Management bought a new stake in Hershey in the second quarter worth about $33,000. Capital Analysts LLC bought a new stake in Hershey in the second quarter worth about $35,000. Finally, Pinnacle Bancorp Inc. bought a new stake in Hershey in the third quarter worth about $34,000. 52.18% of the stock is owned by hedge funds and other institutional investors.

HSY has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Hershey from $184.00 to $187.00 and gave the stock a “hold” rating in a research note on Friday, October 29th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Hershey in a research report on Monday, November 1st. Piper Sandler raised their target price on shares of Hershey from $194.00 to $205.00 and gave the stock an “overweight” rating in a research report on Friday, October 29th. BMO Capital Markets raised their target price on shares of Hershey from $170.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, October 29th. They noted that the move was a valuation call. Finally, Credit Suisse Group raised their target price on shares of Hershey from $194.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, October 29th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hershey presently has an average rating of “Buy” and an average price target of $187.00.

In other Hershey news, CEO Michele Buck sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 7th. The shares were sold at an average price of $177.93, for a total value of $889,650.00. Following the completion of the sale, the chief executive officer now directly owns 175,497 shares in the company, valued at $31,226,181.21. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Kristen J. Riggs sold 1,760 shares of Hershey stock in a transaction on Tuesday, September 7th. The stock was sold at an average price of $175.42, for a total transaction of $308,739.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,971 shares of company stock worth $5,847,505. 0.32% of the stock is currently owned by corporate insiders.

Shares of HSY stock opened at $180.97 on Thursday. The firm has a market cap of $37.28 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 2.98 and a beta of 0.40. The company’s 50 day moving average is $176.93 and its 200 day moving average is $176.10. The company has a quick ratio of 0.90, a current ratio of 1.44 and a debt-to-equity ratio of 1.61. The Hershey Company has a 52-week low of $143.58 and a 52-week high of $183.73.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, October 28th. The company reported $2.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.00 by $0.10. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.33 billion. Hershey had a net margin of 16.23% and a return on equity of 62.43%. Hershey’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company posted $1.86 earnings per share. Analysts anticipate that The Hershey Company will post 7.08 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 15th. Investors of record on Friday, November 19th will be issued a dividend of $0.901 per share. This represents a $3.60 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, November 18th. Hershey’s payout ratio is 52.33%.

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 Hershey (NYSE:HSY)

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