Insider Selling: Hershey Company (The) (NYSE:HSY) CEO Sells 19,290 Shares of Stock

Hershey Company (The) (NYSE:HSY) CEO Michele Buck sold 19,290 shares of Hershey stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $185.00, for a total transaction of $3,568,650.00. Following the sale, the chief executive officer owned 193,624 shares in the company, valued at approximately $35,820,440. This trade represents a 9.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Michele Buck also recently made the following trade(s):

• On Monday, July 21st, Michele Buck sold 19,290 shares of Hershey stock. The shares were sold at an average price of $180.00, for a total transaction of $3,472,200.00.
• On Tuesday, July 1st, Michele Buck sold 19,290 shares of Hershey stock. The shares were sold at an average price of $175.00, for a total transaction of $3,375,750.00.
• On Friday, May 30th, Michele Buck sold 31,210 shares of Hershey stock. The shares were sold at an average price of $160.80, for a total transaction of $5,018,568.00.

Hershey Price Performance

NYSE:HSY opened at $187.54 on Friday. Hershey Company has a 52 week low of $140.13 and a 52 week high of $208.03. The firm has a market cap of $38.00 billion, a price-to-earnings ratio of 23.12, a P/E/G ratio of 6.93 and a beta of 0.30. The firm’s 50-day simple moving average is $167.36 and its 200 day simple moving average is $165.16. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.11 and a current ratio of 1.59.

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

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 16th were issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend was Friday, May 16th. Hershey’s dividend payout ratio (DPR) is presently 67.57%.

Analysts Set New Price Targets

Several analysts have recently weighed in on HSY shares. Barclays lifted their target price on shares of Hershey from $160.00 to $165.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. UBS Group reduced their price target on shares of Hershey from $175.00 to $170.00 and set a “neutral” rating on the stock in a research report on Friday, May 2nd. Morgan Stanley reduced their price target on shares of Hershey from $183.00 to $177.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Mizuho reduced their price target on shares of Hershey from $167.00 to $155.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 28th. Finally, Sanford C. Bernstein boosted their price target on shares of Hershey from $147.00 to $155.00 and gave the company a “market perform” rating in a research report on Friday, May 2nd. Six analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company’s stock. According to MarketBeat.com, Hershey has a consensus rating of “Hold” and an average target price of $160.16.

Institutional Investors Weigh In On Hershey

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas acquired a new stake in Hershey during the 4th quarter worth approximately $1,475,000. LPL Financial LLC boosted its position in Hershey by 19.0% during the 4th quarter. LPL Financial LLC now owns 400,114 shares of the company’s stock worth $67,759,000 after buying an additional 63,882 shares during the period. CoreFirst Bank & Trust acquired a new position in shares of Hershey in the 4th quarter worth approximately $117,000. Zions Bancorporation N.A. lifted its position in shares of Hershey by 50.7% in the 4th quarter. Zions Bancorporation N.A. now owns 2,824 shares of the company’s stock worth $478,000 after purchasing an additional 950 shares during the period. Finally, Signature Estate & Investment Advisors LLC lifted its position in shares of Hershey by 7.3% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 2,065 shares of the company’s stock worth $350,000 after purchasing an additional 140 shares during the period. 57.96% of the stock is owned by institutional investors.

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.