Bartlett & CO. Wealth Management LLC Cuts Stock Holdings in Hershey Company (The) (NYSE:HSY)

Bartlett & CO. Wealth Management LLC lowered its stake in shares of Hershey Company (The) (NYSE:HSY) by 3.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,078 shares of the company’s stock after selling 128 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Hershey were worth $697,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of HSY. Trust Co. of Vermont increased its holdings in Hershey by 2.4% in the first quarter. Trust Co. of Vermont now owns 2,691 shares of the company’s stock valued at $460,000 after buying an additional 62 shares in the last quarter. UNIVEST FINANCIAL Corp increased its holdings in Hershey by 1.5% in the fourth quarter. UNIVEST FINANCIAL Corp now owns 4,500 shares of the company’s stock valued at $762,000 after buying an additional 68 shares in the last quarter. Fifth Third Wealth Advisors LLC increased its holdings in Hershey by 2.6% in the first quarter. Fifth Third Wealth Advisors LLC now owns 2,768 shares of the company’s stock valued at $473,000 after buying an additional 69 shares in the last quarter. OLD Point Trust & Financial Services N A increased its holdings in Hershey by 2.2% in the fourth quarter. OLD Point Trust & Financial Services N A now owns 3,240 shares of the company’s stock valued at $549,000 after buying an additional 70 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. increased its holdings in Hershey by 1.3% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,546 shares of the company’s stock valued at $939,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Up 0.1%

Shares of HSY opened at $167.09 on Friday. The firm has a market cap of $33.85 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 6.10 and a beta of 0.29. The company’s fifty day moving average is $164.67 and its two-hundred day moving average is $165.01. Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $208.03. The company has a quick ratio of 1.11, a current ratio of 1.59 and a debt-to-equity ratio of 1.11.

Hershey (NYSE:HSY) last announced its quarterly earnings results on Thursday, May 1st. The company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.15. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.81 billion. Hershey had a net margin of 15.32% and a return on equity of 38.70%. Hershey’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same quarter last year, the business earned $3.07 EPS. Analysts forecast that Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 16th were issued a $1.37 dividend. The ex-dividend date was Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.28%. Hershey’s dividend payout ratio (DPR) is presently 67.57%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on HSY shares. DA Davidson raised their price objective on shares of Hershey from $162.00 to $163.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Barclays raised their price objective on shares of Hershey from $160.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Monday, May 5th. Wells Fargo & Company raised their price objective on shares of Hershey from $125.00 to $132.00 and gave the stock an “underweight” rating in a research note on Friday, March 14th. Royal Bank Of Canada dropped their price objective on shares of Hershey from $178.00 to $175.00 and set a “sector perform” rating for the company in a research note on Friday, May 2nd. Finally, Morgan Stanley dropped their price objective on shares of Hershey from $183.00 to $177.00 and set an “equal weight” rating for the company in a research note on Thursday, April 17th. Five investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to MarketBeat, Hershey currently has an average rating of “Hold” and an average target price of $158.84.

Insider Buying and Selling at Hershey

In related news, CAO Jennifer Mccalman sold 974 shares of Hershey stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $157.11, for a total transaction of $153,025.14. Following the transaction, the chief accounting officer now owns 2,994 shares in the company, valued at approximately $470,387.34. The trade was a 24.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michele Buck sold 31,210 shares of Hershey stock in a transaction on Friday, May 30th. The shares were sold at an average price of $160.80, for a total transaction of $5,018,568.00. Following the transaction, the chief executive officer now owns 193,624 shares in the company, valued at $31,134,739.20. The trade was a 13.88% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

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.