Princeton Global Asset Management LLC Reduces Position in The Hershey Company (NYSE:HSY)

by · The Markets Daily

Princeton Global Asset Management LLC lessened its holdings in shares of The Hershey Company (NYSE:HSY – Free Report) by 16.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 300 shares of the company’s stock after selling 58 shares during the period. Princeton Global Asset Management LLC’s holdings in Hershey were worth $58,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. LPL Financial LLC grew its stake in Hershey by 10.0% during the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock valued at $58,951,000 after acquiring an additional 29,246 shares in the last quarter. CreativeOne Wealth LLC grew its stake in Hershey by 179.4% during the 1st quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock valued at $1,353,000 after acquiring an additional 4,468 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Hershey by 119.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 91,766 shares of the company’s stock valued at $19,633,000 after acquiring an additional 50,014 shares in the last quarter. SG Americas Securities LLC grew its stake in Hershey by 239.2% during the 1st quarter. SG Americas Securities LLC now owns 22,035 shares of the company’s stock valued at $4,286,000 after acquiring an additional 15,538 shares in the last quarter. Finally, Sei Investments Co. grew its stake in Hershey by 2.2% during the 1st quarter. Sei Investments Co. now owns 54,540 shares of the company’s stock valued at $10,608,000 after acquiring an additional 1,168 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Insider Buying and Selling at Hershey

In other 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 value of $107,153.46. Following the sale, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. This trade represents 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 this link. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Redburn Atlantic assumed coverage on shares of Hershey in a research note on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price target for the company. Deutsche Bank Aktiengesellschaft increased their price target on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. dropped their price target on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Sanford C. Bernstein cut shares of Hershey from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $230.00 to $205.00 in a research note on Monday, October 7th. Finally, UBS Group cut shares of Hershey from a “buy” rating to a “neutral” rating and dropped their price target for the company from $226.00 to $209.00 in a research note on Monday, October 7th. Five analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $191.61.

Check Out Our Latest Research Report on Hershey

Hershey Stock Performance

Shares of HSY stock opened at $179.26 on Monday. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The Hershey Company has a 52 week low of $176.78 and a 52 week high of $211.92. The stock has a market capitalization of $36.26 billion, a PE ratio of 19.92, a P/E/G ratio of 4.09 and a beta of 0.38. The firm has a 50 day moving average of $190.76 and a two-hundred day moving average of $192.53.

Hershey (NYSE:HSY – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.17). Hershey had a net margin of 16.76% and a return on equity of 45.36%. The business had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.30 billion. During the same period in the prior year, the business earned $2.01 EPS. The business’s quarterly revenue was down 16.7% on a year-over-year basis. On average, research analysts predict that The Hershey Company will post 9.42 EPS for the current fiscal year.

About Hershey

(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.

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