First Trust Direct Indexing L.P. Buys 351 Shares of The Hershey Company (NYSE:HSY)

by · The Markets Daily

First Trust Direct Indexing L.P. grew its stake in shares of The Hershey Company (NYSE:HSY – Free Report) by 8.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,393 shares of the company’s stock after buying an additional 351 shares during the period. First Trust Direct Indexing L.P.’s holdings in Hershey were worth $842,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC raised its position 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 period. GHP Investment Advisors Inc. raised its position in shares of Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares during the period. OFI Invest Asset Management acquired a new stake in shares of Hershey during the second quarter worth about $29,000. Crewe Advisors LLC acquired a new stake in shares of Hershey during the first quarter worth about $35,000. Finally, Gradient Investments LLC raised its position in shares of Hershey by 71.9% during the second quarter. Gradient Investments LLC now owns 251 shares of the company’s stock worth $46,000 after purchasing an additional 105 shares during the period. Institutional investors own 57.96% of the company’s stock.

Analyst Ratings Changes

HSY has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Bank of America dropped their target price on Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Royal Bank of Canada dropped their target price on Hershey from $209.00 to $205.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Argus lowered Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Finally, UBS Group lowered Hershey from a “buy” rating to a “neutral” rating and dropped their target price for the company from $226.00 to $209.00 in a research report on Monday, October 7th. Five equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. Based on data from MarketBeat, Hershey currently has an average rating of “Hold” and an average price target of $191.61.

Get Our Latest Research Report on HSY

Insider Activity at Hershey

In related news, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now directly owns 3,238 shares in the company, valued at $644,912.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.34% of the stock is currently owned by corporate insiders.

Hershey Stock Performance

Shares of NYSE HSY opened at $179.26 on Friday. 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 Hershey Company has a 12 month low of $176.78 and a 12 month high of $211.92. The stock has a 50 day moving average of $190.76 and a 200-day moving average of $192.39. The company has a market capitalization of $36.26 billion, a P/E ratio of 19.92, a P/E/G ratio of 4.09 and a beta of 0.37.

Hershey (NYSE:HSY – Get Free Report) last issued its 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 return on equity of 45.36% and a net margin of 16.76%. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter in the prior year, the firm posted $2.01 earnings per share. The business’s revenue was down 16.7% compared to the same quarter last year. As a group, equities research analysts predict that The Hershey Company will post 9.42 EPS for the current year.

Hershey 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.

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