Mediolanum International Funds Ltd Sells 9,795 Shares of The Hershey Company (NYSE:HSY)

Mediolanum International Funds Ltd lessened its holdings in The Hershey Company (NYSE:HSY) by 60.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,434 shares of the company’s stock after selling 9,795 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Hershey were worth $1,242,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in HSY. Wealth Enhancement Advisory Services LLC lifted its position in shares of Hershey by 62.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 49,407 shares of the company’s stock worth $9,610,000 after purchasing an additional 18,968 shares in the last quarter. Vicus Capital acquired a new position in shares of Hershey in the first quarter valued at $264,000. Founders Financial Securities LLC acquired a new position in shares of Hershey in the first quarter valued at $467,000. Aviance Capital Partners LLC acquired a new position in shares of Hershey in the first quarter valued at $243,000. Finally, Diversified Trust Co boosted its position in shares of Hershey by 332.3% in the first quarter. Diversified Trust Co now owns 7,838 shares of the company’s stock valued at $1,524,000 after acquiring an additional 6,025 shares during the period. Institutional investors own 57.96% of the company’s stock.

Insider Transactions at Hershey

In related news, CAO Jennifer Mccalman sold 538 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $199.17, for a total value of $107,153.46. Following the transaction, the chief accounting officer now directly owns 3,238 shares in the company, valued at $644,912.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.34% of the company’s stock.

Hershey Stock Performance

NYSE:HSY opened at $181.26 on Monday. The company has a market capitalization of $36.66 billion, a PE ratio of 17.96, a P/E/G ratio of 4.22 and a beta of 0.37. The company has a 50 day simple moving average of $192.50 and a two-hundred day simple moving average of $192.71. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.48 and a current ratio of 0.86. The Hershey Company has a fifty-two week low of $178.82 and a fifty-two week high of $211.92.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.17). The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. The business’s quarterly revenue was down 16.7% compared to the same quarter last year. During the same period last year, the business earned $2.01 EPS. Research analysts anticipate that The Hershey Company will post 9.45 earnings per share for the current year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Friday, August 16th. Hershey’s dividend payout ratio (DPR) is 54.31%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Barclays reduced their target price on shares of Hershey from $204.00 to $202.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 24th. Redburn Atlantic began coverage on shares of Hershey in a research report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective for the company. Argus cut shares of Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Finally, Royal Bank of Canada dropped their target price on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company. According to MarketBeat.com, Hershey presently has a consensus rating of “Hold” and a consensus target price of $191.11.

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.