Glassy Mountain Advisors Inc. Grows Stock Holdings in The Hershey Company (NYSE:HSY)

Glassy Mountain Advisors Inc. boosted its stake in The Hershey Company (NYSE:HSY) by 7.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,703 shares of the company’s stock after acquiring an additional 1,842 shares during the period. Hershey accounts for about 1.9% of Glassy Mountain Advisors Inc.’s holdings, making the stock its 23rd biggest position. Glassy Mountain Advisors Inc.’s holdings in Hershey were worth $5,313,000 as of its most recent filing with the Securities & Exchange Commission.

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 second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after purchasing an additional 96 shares during the last quarter. GHP Investment Advisors Inc. increased its stake in Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after buying an additional 55 shares during the period. OFI Invest Asset Management purchased a new position in Hershey during the 2nd quarter worth $29,000. Crewe Advisors LLC purchased a new position in Hershey during the 1st quarter worth $35,000. Finally, Gradient Investments LLC lifted its stake in shares of Hershey by 71.9% in the 2nd quarter. Gradient Investments LLC now owns 251 shares of the company’s stock worth $46,000 after acquiring an additional 105 shares during the period. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Trading Up 0.9 %

Shares of HSY opened at $179.26 on Friday. The Hershey Company has a 1-year low of $176.78 and a 1-year high of $211.92. 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 firm has a 50 day simple moving average of $190.76 and a 200-day simple moving average of $192.46. The stock has a market cap of $36.26 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 4.09 and a beta of 0.38.

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). Hershey had a return on equity of 45.36% and a net margin of 16.76%. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the previous year, the business posted $2.01 EPS. The business’s quarterly revenue was down 16.7% on a year-over-year basis. Equities analysts forecast that The Hershey Company will post 9.42 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Sanford C. Bernstein cut shares of Hershey from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $230.00 to $205.00 in a report on Monday, October 7th. Jefferies Financial Group dropped their target price on Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research report on Thursday. The Goldman Sachs Group began coverage on Hershey in a report on Monday, August 12th. They issued a “sell” rating and a $185.00 price target for the company. Royal Bank of Canada dropped their price objective on Hershey from $209.00 to $205.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Five research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $191.61.

Insider Activity at Hershey

In related news, CAO Jennifer Mccalman sold 538 shares of the business’s 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 transaction, the chief accounting officer now owns 3,238 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. Corporate 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.