Carret Asset Management LLC Sells 600 Shares of The Hershey Company (NYSE:HSY)

Carret Asset Management LLC lessened its position in shares of The Hershey Company (NYSE:HSY) by 3.2% during the third quarter, Holdings Channel reports. The institutional investor owned 18,200 shares of the company’s stock after selling 600 shares during the quarter. Carret Asset Management LLC’s holdings in Hershey were worth $3,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC raised its stake 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 period. GHP Investment Advisors Inc. lifted its position 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 purchasing an additional 55 shares during the last quarter. OFI Invest Asset Management purchased a new position in Hershey in the second quarter worth $29,000. Crewe Advisors LLC bought a new position in shares of Hershey during the 1st quarter valued at about $35,000. Finally, Park Place Capital Corp bought a new position in Hershey during the first quarter valued at approximately $36,000. Institutional investors own 57.96% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on HSY shares. Jefferies Financial Group downgraded Hershey from a “hold” rating to an “underperform” rating and decreased their price objective for the stock from $184.00 to $163.00 in a report on Thursday, September 26th. Stifel Nicolaus dropped their price target on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research note on Friday. Royal Bank of Canada cut their price target on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. decreased their price objective on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Finally, Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and cut their target price for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Five research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $191.55.

Hershey Trading Down 0.5 %

NYSE HSY opened at $181.26 on Friday. The stock has a market cap of $36.67 billion, a P/E ratio of 20.14, a P/E/G ratio of 4.22 and a beta of 0.37. The stock’s fifty day moving average price is $192.50 and its 200-day moving average price is $192.71. The Hershey Company has a 12 month low of $178.82 and a 12 month high of $211.92. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87.

Hershey (NYSE:HSY) last released its quarterly earnings data 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). The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. The firm’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 earnings per share. As a group, equities analysts forecast that The Hershey Company will post 9.45 EPS for the current fiscal year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were given a $1.37 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $5.48 annualized dividend and a yield of 3.02%. Hershey’s dividend payout ratio (DPR) is presently 60.89%.

Insider Activity at Hershey

In other news, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $199.17, for a total value of $107,153.46. Following the completion of the transaction, the chief accounting officer now owns 3,238 shares in the company, valued at $644,912.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is currently owned by insiders.

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.