Axxcess Wealth Management LLC Grows Position in The Hershey Company (NYSE:HSY)

Axxcess Wealth Management LLC boosted its stake in shares of The Hershey Company (NYSE:HSY) by 14.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,740 shares of the company’s stock after acquiring an additional 2,167 shares during the period. Axxcess Wealth Management LLC’s holdings in Hershey were worth $3,077,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital Advisors Ltd. LLC boosted its holdings in shares of Hershey by 218.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of Hershey in the first quarter worth about $29,000. GHP Investment Advisors Inc. boosted its stake in Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after buying an additional 55 shares during the last quarter. OFI Invest Asset Management purchased a new position in Hershey during the 2nd quarter valued at approximately $29,000. Finally, Crewe Advisors LLC purchased a new position in Hershey during the 1st quarter valued at approximately $35,000. 57.96% of the stock is currently owned by institutional investors.

Hershey Stock Performance

HSY stock opened at $199.28 on Wednesday. The Hershey Company has a twelve month low of $178.82 and a twelve month high of $213.72. The firm has a market cap of $40.30 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 5.77 and a beta of 0.37. The business’s fifty day simple moving average is $195.76 and its two-hundred day simple moving average is $193.91. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.17). Hershey had a return on equity of 45.36% and a net margin of 16.76%. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the prior year, the business earned $2.01 EPS. The company’s quarterly revenue was down 16.7% on a year-over-year basis. Analysts predict that The Hershey Company will post 9.5 earnings per share for the current year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend was Friday, August 16th. Hershey’s dividend payout ratio is presently 54.31%.

Insider Activity at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $199.17, for a total transaction of $107,153.46. Following the transaction, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total value of $286,245.00. Following the completion of the sale, the chief financial officer now directly owns 34,228 shares of the company’s stock, valued at $6,531,729.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Jennifer Mccalman sold 538 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $199.17, for a total transaction of $107,153.46. Following the transaction, the chief accounting officer now owns 3,238 shares in the company, valued at $644,912.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,538 shares of company stock worth $667,793. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HSY. JPMorgan Chase & Co. increased their target price on Hershey from $183.00 to $188.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Royal Bank of Canada lowered their price objective on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company dropped their price objective on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Friday, June 21st. Argus cut shares of Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, Citigroup downgraded shares of Hershey from a “neutral” rating to a “sell” rating and lowered their price target for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $203.21.

About Hershey

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.