Illinois Municipal Retirement Fund Grows Position in The Hershey Company (NYSE:HSY)

Illinois Municipal Retirement Fund boosted its stake in shares of The Hershey Company (NYSE:HSY) by 62.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 73,091 shares of the company’s stock after acquiring an additional 28,054 shares during the period. Illinois Municipal Retirement Fund’s holdings in Hershey were worth $13,436,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Capital Advisors Ltd. LLC increased its holdings in shares of Hershey by 218.2% in 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. Riverview Trust Co bought a new position in shares of Hershey during the 1st quarter valued at approximately $29,000. OFI Invest Asset Management purchased a new position in shares of Hershey in the second quarter valued at $29,000. Crewe Advisors LLC purchased a new stake in Hershey during the first quarter valued at $35,000. Finally, Quarry LP bought a new position in Hershey during the fourth quarter valued at $34,000. 57.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HSY has been the topic of a number of research reports. Royal Bank of Canada reduced their target price 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. lifted their target price on Hershey from $183.00 to $188.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Barclays decreased their price target on Hershey from $210.00 to $204.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Hershey from $192.00 to $191.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Finally, Piper Sandler restated a “neutral” rating and issued a $179.00 target price on shares of Hershey in a report on Friday, June 21st. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $202.79.

Insider Activity

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total value of $286,245.00. Following the transaction, the chief financial officer now directly owns 34,228 shares of the company’s stock, valued at $6,531,729.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total transaction of $286,245.00. Following the transaction, the chief financial officer now directly owns 34,228 shares in the company, valued at approximately $6,531,729.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Jennifer Mccalman sold 538 shares of the company’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 transaction, the chief accounting officer now directly owns 3,238 shares in the company, valued at $644,912.46. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,538 shares of company stock worth $667,793. Corporate insiders own 0.34% of the company’s stock.

Hershey Stock Up 0.9 %

Shares of HSY traded up $1.70 during mid-day trading on Friday, hitting $199.80. The company’s stock had a trading volume of 1,190,987 shares, compared to its average volume of 1,780,165. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87. The company’s 50-day moving average is $193.40 and its 200-day moving average is $193.35. The Hershey Company has a 52-week low of $178.82 and a 52-week high of $213.85. The firm has a market capitalization of $40.41 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 5.60 and a beta of 0.37.

Hershey (NYSE:HSY) last posted its earnings results 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). 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 quarter in the prior year, the company earned $2.01 EPS. The firm’s quarterly revenue was down 16.7% on a year-over-year basis. On average, equities research analysts forecast that The Hershey Company will post 9.5 EPS for the current fiscal year.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Friday, August 16th. Hershey’s payout ratio is 54.31%.

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.