Econ Financial Services Corp Acquires 15,719 Shares of Hershey Company (The) $HSY

Econ Financial Services Corp boosted its holdings in Hershey Company (The) (NYSE:HSY) by 741.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,838 shares of the company’s stock after acquiring an additional 15,719 shares during the quarter. Hershey accounts for about 1.5% of Econ Financial Services Corp’s investment portfolio, making the stock its 15th largest position. Econ Financial Services Corp’s holdings in Hershey were worth $2,960,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HSY. Proffitt & Goodson Inc. bought a new position in shares of Hershey during the 1st quarter valued at about $28,000. Trust Co. of Toledo NA OH bought a new position in shares of Hershey during the 2nd quarter valued at about $28,000. Fort Vancouver Investment Management LLC bought a new position in shares of Hershey during the 1st quarter valued at about $34,000. MorganRosel Wealth Management LLC bought a new position in shares of Hershey during the 1st quarter valued at about $35,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of Hershey during the 1st quarter valued at about $36,000. 57.96% of the stock is currently owned by institutional investors.

Hershey Trading Down 0.5%

Shares of HSY stock opened at $180.53 on Wednesday. The stock has a market capitalization of $36.60 billion, a PE ratio of 23.97, a P/E/G ratio of 4.36 and a beta of 0.26. Hershey Company has a 1-year low of $140.13 and a 1-year high of $208.03. The business has a 50-day moving average of $186.89 and a 200 day moving average of $175.89. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.53 and a quick ratio of 0.89.

Hershey (NYSE:HSY) last issued its earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.23. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Hershey had a return on equity of 37.36% and a net margin of 13.54%.Hershey’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.27 EPS. As a group, sell-side analysts anticipate that Hershey Company will post 6.12 earnings per share for the current year.

Insiders Place Their Bets

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $187.52, for a total value of $281,280.00. Following the completion of the sale, the chief financial officer owned 56,819 shares in the company, valued at approximately $10,654,698.88. This trade represents a 2.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on HSY shares. BNP Paribas Exane upgraded Hershey from a “neutral” rating to an “outperform” rating in a research report on Monday, September 15th. Stifel Nicolaus increased their price objective on Hershey from $185.00 to $195.00 and gave the company a “hold” rating in a research report on Friday, October 24th. Sanford C. Bernstein increased their price objective on Hershey from $155.00 to $179.00 and gave the company a “market perform” rating in a research report on Thursday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Hershey in a research report on Wednesday, October 8th. Finally, DA Davidson increased their price objective on Hershey from $171.00 to $188.00 and gave the company a “neutral” rating in a research report on Monday, August 4th. Two analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $177.67.

About Hershey

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.