Congress Asset Management Co. Has $8.69 Million Stock Position in The Hershey Company (NYSE:HSY)

Congress Asset Management Co. lessened its holdings in The Hershey Company (NYSE:HSY) by 0.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,335 shares of the company’s stock after selling 104 shares during the quarter. Congress Asset Management Co.’s holdings in Hershey were worth $8,694,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of HSY. Vanguard Group Inc. raised its stake in Hershey by 14.2% during the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock worth $3,372,965,000 after acquiring an additional 2,158,912 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Hershey by 30,461.7% during the 3rd quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock valued at $1,100,130,000 after purchasing an additional 571,766 shares during the last quarter. Confluence Investment Management LLC increased its position in Hershey by 297.9% during the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after purchasing an additional 537,419 shares in the last quarter. Massachusetts Financial Services Co. MA acquired a new position in Hershey during the 2nd quarter worth approximately $82,123,000. Finally, Bryn Mawr Capital Management LLC lifted its stake in Hershey by 3,404.3% in the 1st quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company’s stock valued at $49,879,000 after purchasing an additional 249,129 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Performance

HSY stock opened at $177.56 on Friday. The Hershey Company has a 1-year low of $176.78 and a 1-year high of $211.92. 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 stock has a 50-day moving average price of $191.10 and a 200-day moving average price of $192.42. The firm has a market cap of $35.92 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 4.09 and a beta of 0.37.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.17). The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. Hershey’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same period last year, the firm posted $2.01 earnings per share. As a group, equities research analysts expect that The Hershey Company will post 9.42 earnings per share for the current year.

Insider Activity

In related news, CAO Jennifer Mccalman sold 538 shares of the 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 transaction, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at $644,912.46. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

HSY has been the subject of several research analyst reports. Royal Bank of Canada lowered their price target on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Barclays lowered their target price on Hershey from $204.00 to $202.00 and set an “equal weight” rating for the company in a report on Tuesday, September 24th. Bank of America cut their price target on Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 15th. JPMorgan Chase & Co. lowered their price objective on Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Finally, Citigroup downgraded shares of Hershey from a “neutral” rating to a “sell” rating and cut their target price for the stock from $195.00 to $182.00 in a research report on Tuesday, August 27th. Five research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to data from MarketBeat.com, Hershey has an average rating of “Hold” and an average target price of $191.61.

Hershey 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.