Bank of America Corp DE Sells 757,406 Shares of The Hershey Company (NYSE:HSY)

Bank of America Corp DE trimmed its holdings in The Hershey Company (NYSE:HSY) by 39.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,185,974 shares of the company’s stock after selling 757,406 shares during the quarter. Bank of America Corp DE owned about 0.59% of Hershey worth $200,845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Principal Financial Group Inc. lifted its holdings in shares of Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after purchasing an additional 389,404 shares during the last quarter. Woodstock Corp boosted its holdings in Hershey by 34.8% in the fourth quarter. Woodstock Corp now owns 6,896 shares of the company’s stock worth $1,168,000 after acquiring an additional 1,780 shares in the last quarter. Elevate Capital Advisors LLC purchased a new stake in shares of Hershey in the fourth quarter worth $1,939,000. Ethos Financial Group LLC increased its holdings in shares of Hershey by 59.8% during the fourth quarter. Ethos Financial Group LLC now owns 3,962 shares of the company’s stock valued at $671,000 after acquiring an additional 1,483 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its position in shares of Hershey by 86.9% in the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 4,782 shares of the company’s stock worth $810,000 after purchasing an additional 2,223 shares during the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Stock Performance

HSY opened at $170.12 on Friday. The firm has a market cap of $34.43 billion, a P/E ratio of 15.61, a PEG ratio of 5.90 and a beta of 0.32. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $211.92. The company has a 50 day simple moving average of $168.31 and a two-hundred day simple moving average of $168.56. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64.

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 analysts’ consensus estimates of $1.94 by $0.15. Hershey had a return on equity of 44.77% and a net margin of 19.83%. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the prior year, the business posted $3.07 EPS. Hershey’s revenue for the quarter was down 13.8% compared to the same quarter last year. Equities analysts forecast that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 yield of 3.22%. Hershey’s payout ratio is 67.57%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HSY shares. Barclays raised their price objective on shares of Hershey from $160.00 to $165.00 and gave the company an “equal weight” rating in a research note on Monday. Citigroup lowered their price objective on Hershey from $173.00 to $165.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Mizuho lowered their price target on Hershey from $170.00 to $140.00 in a report on Wednesday, February 5th. Jefferies Financial Group reduced their price objective on Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a report on Tuesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Hershey from $184.00 to $148.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Five analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $161.40.

Hershey 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.