Abundance Wealth Counselors Has $293,000 Holdings in The Hershey Company (NYSE:HSY)

Abundance Wealth Counselors cut its holdings in The Hershey Company (NYSE:HSY) by 10.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 1,508 shares of the company’s stock after selling 183 shares during the quarter. Abundance Wealth Counselors’ holdings in Hershey were worth $293,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. BKM Wealth Management LLC acquired a new stake in Hershey in the fourth quarter valued at about $26,000. Riverview Trust Co acquired a new stake in shares of Hershey during the first quarter valued at about $29,000. First Financial Corp IN acquired a new stake in shares of Hershey during the fourth quarter valued at about $29,000. Highlander Capital Management LLC boosted its stake in shares of Hershey by 125.3% during the fourth quarter. Highlander Capital Management LLC now owns 169 shares of the company’s stock valued at $32,000 after purchasing an additional 94 shares in the last quarter. Finally, Rakuten Securities Inc. acquired a new stake in shares of Hershey during the fourth quarter valued at about $32,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $204.54, for a total transaction of $306,810.00. Following the completion of the sale, the chief financial officer now owns 37,228 shares in the company, valued at $7,614,615.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 4,500 shares of company stock worth $859,950. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on HSY shares. Barclays cut their price target on Hershey from $210.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 18th. Piper Sandler reissued a “neutral” rating and set a $179.00 price target on shares of Hershey in a research note on Friday, June 21st. Argus cut their price target on Hershey from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $213.00 price objective on shares of Hershey in a research note on Friday, March 15th. Finally, Edward Jones reaffirmed a “hold” rating on shares of Hershey in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Hershey has a consensus rating of “Hold” and an average target price of $209.67.

Hershey Trading Down 0.5 %

NYSE HSY opened at $183.75 on Thursday. The company has a market cap of $37.16 billion, a price-to-earnings ratio of 18.21, a P/E/G ratio of 4.13 and a beta of 0.36. The Hershey Company has a 52 week low of $178.82 and a 52 week high of $251.71. The business has a 50 day moving average price of $194.11 and a 200-day moving average price of $192.22. The company has a quick ratio of 0.64, a current ratio of 0.97 and a debt-to-equity ratio of 0.92.

Hershey (NYSE:HSY) last released its quarterly earnings data on Friday, May 3rd. The company reported $3.07 EPS for the quarter, beating the consensus estimate of $2.74 by $0.33. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.11 billion. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.96 earnings per share. As a group, equities analysts expect that The Hershey Company will post 9.59 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 17th were issued a dividend of $1.37 per share. The ex-dividend date was Thursday, May 16th. This represents a $5.48 annualized dividend and a yield of 2.98%. Hershey’s dividend payout ratio (DPR) is currently 54.31%.

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