BTS Asset Management Inc. Makes New $205,000 Investment in The Hershey Company (NYSE:HSY)

BTS Asset Management Inc. bought a new position in The Hershey Company (NYSE:HSY) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 1,070 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC lifted its holdings in shares of Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares in the last quarter. GHP Investment Advisors Inc. lifted its holdings in shares of 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 in the last quarter. Riverview Trust Co bought a new position in shares of Hershey during the first quarter valued at $29,000. OFI Invest Asset Management bought a new position in shares of Hershey during the second quarter valued at $29,000. Finally, Crewe Advisors LLC bought a new position in shares of Hershey during the first quarter valued at $35,000. 57.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Citigroup downgraded Hershey from a “neutral” rating to a “sell” rating and lowered their target price for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. Redburn Atlantic assumed coverage on Hershey in a report on Tuesday. They issued a “sell” rating and a $165.00 target price on the stock. Royal Bank of Canada lowered their target price on Hershey from $209.00 to $205.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. The Goldman Sachs Group assumed coverage on Hershey in a report on Monday, August 12th. They issued a “sell” rating and a $185.00 target price on the stock. Finally, Piper Sandler lowered their target price on Hershey from $179.00 to $165.00 and set a “neutral” rating on the stock in a report on Wednesday. Five research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. According to MarketBeat, Hershey currently has an average rating of “Hold” and a consensus target price of $192.80.

Hershey Stock Performance

NYSE HSY opened at $181.98 on Thursday. The stock has a market capitalization of $36.80 billion, a PE ratio of 18.04, a P/E/G ratio of 5.44 and a beta of 0.37. The business has a 50 day simple moving average of $193.04 and a two-hundred day simple moving average of $192.88. 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 1-year low of $178.82 and a 1-year high of $211.92.

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

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date was Friday, August 16th. Hershey’s dividend payout ratio (DPR) is 54.31%.

Insider Transactions at Hershey

In other news, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction that occurred 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 approximately $644,912.46. 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 the SEC website. Company insiders own 0.34% of the company’s stock.

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.