Conning Inc. Acquires 895 Shares of The Hershey Company (NYSE:HSY)

by · The Cerbat Gem

Conning Inc. raised its holdings in shares of The Hershey Company (NYSE:HSY – Free Report) by 78.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,029 shares of the company’s stock after purchasing an additional 895 shares during the quarter. Conning Inc.’s holdings in Hershey were worth $389,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on HSY shares. Redburn Atlantic started coverage on shares of Hershey in a research report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 target price on the stock. Citigroup lowered Hershey from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $195.00 to $182.00 in a report on Tuesday, August 27th. Bank of America reduced their price target on Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. JPMorgan Chase & Co. dropped their price objective on Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Finally, Piper Sandler cut their target price on Hershey from $179.00 to $165.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Five research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $191.61.

Read Our Latest Report on Hershey

Insider Buying and Selling at Hershey

In related news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction 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 $644,912.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.34% of the company’s stock.

Hershey Stock Performance

Shares of HSY opened at $179.26 on Monday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.48 and a current ratio of 0.86. The stock has a 50-day moving average of $190.76 and a two-hundred day moving average of $192.53. The stock has a market cap of $36.26 billion, a P/E ratio of 19.92, a P/E/G ratio of 4.09 and a beta of 0.38. The Hershey Company has a one year low of $176.78 and a one year high of $211.92.

Hershey (NYSE:HSY – Get Free Report) last released its earnings results on Thursday, August 1st. The company reported $1.27 EPS 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 firm had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period last year, the firm earned $2.01 EPS. The company’s revenue for the quarter was down 16.7% compared to the same quarter last year. As a group, research analysts predict that The Hershey Company will post 9.42 EPS for the current year.

Hershey Company Profile

(Free Report)

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.

Read More