Hershey Company (The) (NYSE:HSY) Shares Sold by Dearborn Partners LLC

Dearborn Partners LLC cut its stake in shares of Hershey Company (The) (NYSE:HSY) by 10.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 32,234 shares of the company’s stock after selling 3,665 shares during the period. Dearborn Partners LLC’s holdings in Hershey were worth $5,513,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors purchased a new stake in shares of Hershey during the first quarter worth $906,000. Bayforest Capital Ltd grew its holdings in shares of Hershey by 401.2% during the first quarter. Bayforest Capital Ltd now owns 4,220 shares of the company’s stock worth $722,000 after buying an additional 3,378 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in shares of Hershey during the first quarter worth $471,000. Foundations Investment Advisors LLC grew its holdings in shares of Hershey by 9.1% during the first quarter. Foundations Investment Advisors LLC now owns 1,534 shares of the company’s stock worth $262,000 after buying an additional 128 shares in the last quarter. Finally, Maridea Wealth Management LLC purchased a new stake in shares of Hershey during the first quarter worth $698,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on HSY shares. Citigroup dropped their price objective on shares of Hershey from $173.00 to $165.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Stifel Nicolaus upped their price objective on shares of Hershey from $160.00 to $180.00 and gave the company a “hold” rating in a report on Tuesday. 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 report on Thursday, April 17th. 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 report on Friday, May 2nd. Finally, Mizuho upped their price objective on shares of Hershey from $155.00 to $165.00 and gave the company a “neutral” rating in a report on Monday. Six equities research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $161.74.

Insider Buying and Selling at Hershey

In related news, SVP James Turoff sold 1,300 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $175.00, for a total value of $227,500.00. Following the sale, the senior vice president owned 25,321 shares of the company’s stock, valued at $4,431,175. This trade represents a 4.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michele Buck sold 19,290 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 193,624 shares in the company, valued at approximately $35,820,440. This trade represents a 9.06% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 99,021 shares of company stock valued at $17,189,088. Corporate insiders own 0.28% of the company’s stock.

Hershey Stock Up 0.9%

Shares of HSY opened at $186.29 on Wednesday. The stock has a market capitalization of $37.74 billion, a PE ratio of 22.97, a P/E/G ratio of 4.57 and a beta of 0.30. Hershey Company has a 1 year low of $140.13 and a 1 year high of $208.03. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.11 and a current ratio of 1.59. The company’s 50-day simple moving average is $168.53 and its 200-day simple moving average is $165.52.

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

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 16th were given a dividend of $1.37 per share. The ex-dividend date was Friday, May 16th. This represents a $5.48 annualized dividend and a dividend yield of 2.94%. Hershey’s dividend payout ratio is presently 67.57%.

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.