Avantax Advisory Services Inc. Reduces Holdings in The Hershey Company (NYSE:HSY)

Avantax Advisory Services Inc. cut its stake in The Hershey Company (NYSE:HSYFree Report) by 10.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,711 shares of the company’s stock after selling 690 shares during the period. Avantax Advisory Services Inc.’s holdings in Hershey were worth $1,065,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of HSY. Costello Asset Management INC purchased a new stake in shares of Hershey in the 3rd quarter valued at about $25,000. BKM Wealth Management LLC acquired a new position in Hershey during the fourth quarter worth approximately $26,000. First Financial Corp IN purchased a new stake in Hershey in the fourth quarter valued at approximately $29,000. Highlander Capital Management LLC boosted its holdings in shares of Hershey by 125.3% in the fourth quarter. Highlander Capital Management LLC now owns 169 shares of the company’s stock valued at $32,000 after acquiring an additional 94 shares during the period. Finally, Rakuten Securities Inc. purchased a new position in shares of Hershey during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Stock Down 0.5 %

HSY stock opened at $207.04 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.64 and a debt-to-equity ratio of 0.92. The company’s 50-day moving average price is $194.91 and its 200 day moving average price is $191.77. The Hershey Company has a 52 week low of $178.82 and a 52 week high of $267.25. The company has a market cap of $41.87 billion, a P/E ratio of 20.52, a P/E/G ratio of 3.19 and a beta of 0.33.

Hershey (NYSE:HSYGet Free Report) last announced its quarterly earnings results on Friday, May 3rd. The company reported $3.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.74 by $0.33. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter last year, the business posted $2.96 earnings per share. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, research analysts expect that The Hershey Company will post 9.6 earnings per share for the current fiscal year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 17th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Thursday, May 16th. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

Analysts Set New Price Targets

HSY has been the subject of several research reports. Edward Jones reiterated a “hold” rating on shares of Hershey in a research report on Friday, April 19th. BNP Paribas downgraded shares of Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 target price for the company. in a research note on Tuesday, March 26th. Stifel Nicolaus raised their price target on Hershey from $195.00 to $205.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. upped their price objective on Hershey from $185.00 to $193.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Finally, Morgan Stanley lowered Hershey from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $191.00 to $183.00 in a report on Monday, February 12th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $213.06.

Read Our Latest Stock Report on Hershey

Insider Activity

In other news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $185.83, for a total transaction of $278,745.00. Following the completion of the transaction, the chief financial officer now owns 38,728 shares of the company’s stock, valued at approximately $7,196,824.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.34% of the company’s stock.

Hershey Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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