Toronto Dominion Bank Trims Stock Position in The Hershey Company (NYSE:HSY)

Toronto Dominion Bank cut its holdings in The Hershey Company (NYSE:HSY) by 20.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 65,050 shares of the company’s stock after selling 16,456 shares during the period. Toronto Dominion Bank’s holdings in Hershey were worth $11,016,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in HSY. Montag & Caldwell LLC purchased a new stake in Hershey in the fourth quarter valued at $25,000. Crowley Wealth Management Inc. acquired a new stake in shares of Hershey during the 4th quarter worth about $28,000. Grove Bank & Trust increased its position in shares of Hershey by 248.0% during the 4th quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 124 shares during the last quarter. Vision Financial Markets LLC purchased a new stake in Hershey in the 4th quarter valued at about $29,000. Finally, Lee Danner & Bass Inc. purchased a new stake in Hershey in the 4th quarter valued at about $34,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Stock Performance

HSY opened at $155.73 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average is $165.76 and its 200-day moving average is $167.46. The stock has a market cap of $31.55 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32. The Hershey Company has a twelve month low of $140.13 and a twelve month high of $209.65.

Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, May 1st. The company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.15. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.81 billion. Hershey had a net margin of 19.83% and a return on equity of 44.77%. The company’s quarterly revenue was down 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.07 earnings per share. On average, analysts predict that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be paid a $1.37 dividend. The ex-dividend date is Friday, May 16th. This represents a $5.48 annualized dividend and a dividend yield of 3.52%. Hershey’s dividend payout ratio is currently 67.57%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Bernstein Bank lowered their target price on shares of Hershey from $177.00 to $146.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. UBS Group decreased their price objective on shares of Hershey from $175.00 to $170.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Hershey from $184.00 to $148.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Morgan Stanley cut their target price on Hershey from $183.00 to $177.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Finally, Barclays upped their price target on Hershey from $160.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Five investment analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company. According to data from MarketBeat.com, Hershey currently has a consensus rating of “Hold” and an average price target of $161.40.

Hershey Company 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.