OLD National Bancorp IN Has $492,000 Stock Holdings in The Hershey Company (NYSE:HSY)

OLD National Bancorp IN cut its holdings in The Hershey Company (NYSE:HSY) by 16.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,638 shares of the company’s stock after selling 530 shares during the quarter. OLD National Bancorp IN’s holdings in Hershey were worth $492,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Nordea Investment Management AB boosted its position in Hershey by 143.7% during the 3rd quarter. Nordea Investment Management AB now owns 2,465,403 shares of the company’s stock worth $496,039,000 after acquiring an additional 1,453,819 shares during the last quarter. International Assets Investment Management LLC boosted its position in Hershey by 18,495.8% during the 4th quarter. International Assets Investment Management LLC now owns 295,673 shares of the company’s stock worth $55,125,000 after acquiring an additional 294,083 shares during the last quarter. Vanguard Group Inc. boosted its position in Hershey by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 14,911,173 shares of the company’s stock worth $2,983,427,000 after acquiring an additional 222,960 shares during the last quarter. Trexquant Investment LP acquired a new position in Hershey during the 3rd quarter worth approximately $33,672,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Hershey by 270.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 197,312 shares of the company’s stock worth $39,478,000 after acquiring an additional 144,103 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HSY has been the subject of a number of recent research reports. Citigroup reduced their price target on Hershey from $213.00 to $199.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Stifel Nicolaus upped their price target on Hershey from $195.00 to $205.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Edward Jones reiterated a “hold” rating on shares of Hershey in a research note on Friday, April 19th. JPMorgan Chase & Co. upped their price objective on Hershey from $185.00 to $193.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Finally, BNP Paribas cut Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 price objective on the stock. in a research note on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $223.33.

Hershey Stock Up 0.6 %

HSY stock opened at $188.14 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.97 and a quick ratio of 0.52. The stock has a market capitalization of $38.37 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 2.87 and a beta of 0.34. The business’s fifty day moving average price is $191.95 and its two-hundred day moving average price is $190.73. The Hershey Company has a fifty-two week low of $178.82 and a fifty-two week high of $276.88.

Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, February 8th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.07. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Hershey had a return on equity of 51.79% and a net margin of 16.67%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business earned $2.02 EPS. On average, equities analysts anticipate that The Hershey Company will post 9.6 earnings per share for the current year.

Hershey Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th were issued a dividend of $1.37 per share. This is a positive change from Hershey’s previous quarterly dividend of $1.19. This represents a $5.48 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend was Friday, February 16th. Hershey’s dividend payout ratio is 60.55%.

Insider Transactions at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $185.83, for a total transaction of $278,745.00. Following the sale, the chief financial officer now directly owns 38,728 shares of the company’s stock, valued at approximately $7,196,824.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $185.83, for a total transaction of $278,745.00. Following the sale, the chief financial officer now directly owns 38,728 shares of the company’s stock, valued at approximately $7,196,824.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Jennifer Mccalman sold 453 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $198.54, for a total value of $89,938.62. Following the sale, the chief accounting officer now directly owns 1,862 shares in the company, valued at $369,681.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,453 shares of company stock valued at $665,534. 0.34% of the stock is owned by corporate insiders.

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.