Hershey Trust Co. Lowers Holdings in Hershey Company (The) $HSY

Hershey Trust Co. decreased its position in shares of Hershey Company (The) (NYSE:HSY) by 96.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,066,133 shares of the company’s stock after selling 54,612,098 shares during the quarter. Hershey makes up approximately 3.6% of Hershey Trust Co.’s portfolio, making the stock its 2nd largest position. Hershey Trust Co.’s holdings in Hershey were worth $375,995,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in HSY. JPL Wealth Management LLC bought a new position in Hershey during the 3rd quarter worth $26,000. Laurel Wealth Advisors LLC bought a new position in Hershey during the 4th quarter worth $27,000. Measured Wealth Private Client Group LLC bought a new position in Hershey during the 3rd quarter worth $35,000. Atlantic Edge Private Wealth Management LLC bought a new position in Hershey during the 4th quarter worth $42,000. Finally, WHI TRUST Co LLC bought a new position in Hershey during the 4th quarter worth $45,000. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Performance

NYSE:HSY opened at $182.99 on Thursday. The stock’s 50-day simple moving average is $195.80 and its 200 day simple moving average is $198.83. The firm has a market capitalization of $37.12 billion, a PE ratio of 34.08, a price-to-earnings-growth ratio of 1.10 and a beta of 0.09. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. Hershey Company has a twelve month low of $160.07 and a twelve month high of $239.48.

Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.31. The business had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.03 billion. Hershey had a return on equity of 28.98% and a net margin of 9.12%.Hershey’s revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $2.09 earnings per share. On average, analysts anticipate that Hershey Company will post 8.45 EPS for the current fiscal year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be paid a $1.452 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $5.81 annualized dividend and a yield of 3.2%. Hershey’s dividend payout ratio (DPR) is 108.19%.

Analysts Set New Price Targets

Several research analysts have weighed in on HSY shares. Barclays lowered their price objective on Hershey from $225.00 to $220.00 and set an “equal weight” rating on the stock in a research report on Monday, May 4th. Evercore upgraded Hershey from an “in-line” rating to an “outperform” rating and set a $255.00 price objective on the stock in a research report on Wednesday, May 27th. Piper Sandler reiterated an “overweight” rating and set a $249.00 price objective on shares of Hershey in a research report on Wednesday, February 25th. Stifel Nicolaus decreased their price target on Hershey from $230.00 to $215.00 and set a “hold” rating on the stock in a research report on Tuesday, April 21st. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $250.00 price target on shares of Hershey in a research report on Friday, February 6th. Seven research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $218.06.

Insiders Place Their Bets

In related news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $194.10, for a total value of $291,150.00. Following the sale, the chief financial officer directly owned 57,695 shares of the company’s stock, valued at $11,198,599.50. This trade represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by company insiders.

Hershey Company Profile

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.