Eliot Finkel Investment Counsel LLC Purchases 3,985 Shares of The Hershey Company (NYSE:HSY)

Eliot Finkel Investment Counsel LLC boosted its position in shares of The Hershey Company (NYSE:HSY) by 33.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,760 shares of the company’s stock after purchasing an additional 3,985 shares during the period. Hershey comprises about 1.9% of Eliot Finkel Investment Counsel LLC’s investment portfolio, making the stock its 23rd biggest position. Eliot Finkel Investment Counsel LLC’s holdings in Hershey were worth $3,022,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HSY. Vanguard Group Inc. raised its stake in shares of Hershey by 14.2% in the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock valued at $3,372,965,000 after acquiring an additional 2,158,912 shares during the last quarter. Janus Henderson Group PLC raised its position in Hershey by 6.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock valued at $289,327,000 after purchasing an additional 90,329 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Hershey by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock worth $144,743,000 after purchasing an additional 25,780 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Hershey by 23.2% during the second quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock worth $143,962,000 after purchasing an additional 147,215 shares during the last quarter. Finally, Confluence Investment Management LLC increased its stake in shares of Hershey by 297.9% in the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after buying an additional 537,419 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Piper Sandler reissued a “neutral” rating and set a $179.00 price objective on shares of Hershey in a report on Friday, June 21st. UBS Group lowered shares of Hershey from a “buy” rating to a “neutral” rating and lowered their price target for the company from $226.00 to $209.00 in a report on Monday, October 7th. Royal Bank of Canada dropped 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 decreased their price objective on Hershey from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. Finally, Citigroup downgraded Hershey from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $195.00 to $182.00 in a research report on Tuesday, August 27th. Four investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $195.00.

Insider Transactions at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total value of $286,245.00. Following the completion of the transaction, the chief financial officer now directly owns 34,228 shares in the company, valued at approximately $6,531,729.24. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the sale, the chief accounting officer now directly owns 3,238 shares in the company, valued at $644,912.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total transaction of $286,245.00. Following the completion of the transaction, the chief financial officer now directly owns 34,228 shares of the company’s stock, valued at approximately $6,531,729.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by insiders.

Hershey Stock Up 1.0 %

Hershey stock opened at $185.68 on Friday. The firm has a market capitalization of $37.55 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 5.44 and a beta of 0.37. The company’s 50 day simple moving average is $194.01 and its 200 day simple moving average is $193.18. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48. The Hershey Company has a fifty-two week low of $178.82 and a fifty-two week high of $211.92.

Hershey (NYSE:HSY) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). Hershey had a return on equity of 45.36% and a net margin of 16.76%. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period in the prior year, the business earned $2.01 earnings per share. The company’s revenue for the quarter was down 16.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Hershey Company will post 9.47 EPS for the current year.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were issued a $1.37 dividend. The ex-dividend date was Friday, August 16th. This represents a $5.48 annualized dividend and a dividend yield of 2.95%. Hershey’s dividend payout ratio (DPR) is currently 54.31%.

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.