Fairbanks Capital Management Inc. Increases Stock Holdings in The Hershey Company (NYSE:HSY)

Fairbanks Capital Management Inc. raised its stake in The Hershey Company (NYSE:HSY) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,800 shares of the company’s stock after purchasing an additional 96 shares during the period. Fairbanks Capital Management Inc.’s holdings in Hershey were worth $699,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Capital Advisors Ltd. LLC grew its position in shares of Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after acquiring an additional 96 shares during the last quarter. Riverview Trust Co purchased a new position in shares of Hershey during the first quarter worth approximately $29,000. OFI Invest Asset Management purchased a new position in shares of Hershey during the second quarter worth approximately $29,000. Quarry LP purchased a new position in shares of Hershey during the fourth quarter worth approximately $34,000. Finally, Crewe Advisors LLC purchased a new position in shares of Hershey during the first quarter worth approximately $35,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HSY. Argus lowered shares of Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. The Goldman Sachs Group assumed coverage on Hershey in a report on Monday, August 12th. They set a “sell” rating and a $185.00 price target for the company. Wells Fargo & Company decreased their price target on Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Friday, June 21st. Bank of America decreased their price target on Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Sanford C. Bernstein decreased their price target on Hershey from $237.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hershey currently has an average rating of “Hold” and a consensus target price of $202.79.

Insider Buying and Selling

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated 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 sale, the chief financial officer now owns 34,228 shares in the company, valued at approximately $6,531,729.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated 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 sale, the chief financial officer now owns 34,228 shares in the company, valued at approximately $6,531,729.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $199.17, for a total value of $107,153.46. Following the completion of the sale, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,538 shares of company stock worth $667,793. 0.34% of the stock is owned by corporate insiders.

Hershey Trading Up 0.9 %

NYSE:HSY opened at $199.80 on Monday. The company has a market capitalization of $40.42 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 5.80 and a beta of 0.37. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The Hershey Company has a 52-week low of $178.82 and a 52-week high of $213.85. The stock has a fifty day simple moving average of $193.40 and a 200-day simple moving average of $193.36.

Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. The company’s revenue for the quarter was down 16.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.01 EPS. On average, equities research analysts expect that The Hershey Company will post 9.5 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 16th will be given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Friday, August 16th. Hershey’s dividend payout ratio is presently 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.