Hershey Company (The) $HSY Shares Sold by Readystate Asset Management LP

Readystate Asset Management LP reduced its stake in shares of Hershey Company (The) (NYSE:HSY) by 67.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 129,513 shares of the company’s stock after selling 266,139 shares during the quarter. Hershey accounts for 1.2% of Readystate Asset Management LP’s holdings, making the stock its 15th largest position. Readystate Asset Management LP’s holdings in Hershey were worth $26,924,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. PBU The Pension Fund of Early Childhood & Youth Educators acquired a new stake in shares of Hershey during the 4th quarter valued at about $9,633,000. Prudential PLC boosted its position in Hershey by 237.3% during the fourth quarter. Prudential PLC now owns 7,988 shares of the company’s stock worth $1,454,000 after purchasing an additional 5,620 shares in the last quarter. Friedenthal Financial grew its holdings in Hershey by 38,266.7% in the fourth quarter. Friedenthal Financial now owns 5,755 shares of the company’s stock valued at $1,047,000 after purchasing an additional 5,740 shares during the period. Jefferies Financial Group Inc. purchased a new stake in shares of Hershey in the fourth quarter valued at approximately $2,744,000. Finally, Fifth Third Bancorp raised its stake in shares of Hershey by 126.4% during the 1st quarter. Fifth Third Bancorp now owns 84,215 shares of the company’s stock worth $17,508,000 after buying an additional 47,017 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Price Performance

Shares of NYSE HSY opened at $183.53 on Wednesday. The firm has a 50-day simple moving average of $179.94 and a 200-day simple moving average of $196.93. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $37.23 billion, a price-to-earnings ratio of 34.18, a price-to-earnings-growth ratio of 1.12 and a beta of 0.11. Hershey Company has a 52 week low of $161.43 and a 52 week high of $239.48.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, April 30th. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.31. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.03 billion. Hershey had a net margin of 9.12% and a return on equity of 28.98%. Hershey’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.09 EPS. On average, equities analysts predict that Hershey Company will post 8.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Weiss Ratings cut shares of Hershey from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, June 26th. Zacks Research lowered shares of Hershey from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. JPMorgan Chase & Co. reduced their price target on shares of Hershey from $204.00 to $191.00 and set a “neutral” rating for the company in a research report on Monday, July 13th. Stifel Nicolaus lowered their price objective on Hershey from $215.00 to $180.00 and set a “hold” rating on the stock in a report on Wednesday, July 22nd. Finally, Mizuho cut their price objective on Hershey from $195.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, May 20th. Seven analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $208.28.

Insider Activity

In related news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $170.00, for a total value of $255,000.00. Following the completion of the sale, the chief financial officer owned 53,195 shares of the company’s stock, valued at approximately $9,043,150. This trade represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by company insiders.

Hershey Company Profile

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.