Hershey Company (The) (NYSE:HSY) Holdings Cut by Vestcor Inc

Vestcor Inc lowered its stake in shares of Hershey Company (The) (NYSE:HSY) by 29.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,937 shares of the company’s stock after selling 23,530 shares during the period. Vestcor Inc’s holdings in Hershey were worth $9,738,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HSY. Norges Bank purchased a new position in Hershey in the fourth quarter valued at about $5,618,000. Brown Brothers Harriman & Co. grew its stake in shares of Hershey by 51.4% in the 4th quarter. Brown Brothers Harriman & Co. now owns 710 shares of the company’s stock valued at $120,000 after buying an additional 241 shares in the last quarter. Allstate Corp acquired a new position in Hershey in the fourth quarter worth approximately $757,000. Alliancebernstein L.P. raised its position in Hershey by 55.7% during the fourth quarter. Alliancebernstein L.P. now owns 264,267 shares of the company’s stock valued at $44,754,000 after acquiring an additional 94,539 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Hershey by 19.5% in the fourth quarter. Franklin Resources Inc. now owns 260,554 shares of the company’s stock valued at $44,125,000 after acquiring an additional 42,499 shares during the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Stock Up 0.9%

NYSE HSY opened at $186.29 on Wednesday. Hershey Company has a twelve month low of $140.13 and a twelve month high of $208.03. The stock has a market cap of $37.74 billion, a PE ratio of 22.97, a PEG ratio of 4.57 and a beta of 0.30. The firm has a 50-day simple moving average of $168.53 and a 200 day simple moving average of $165.52. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.11 and a current ratio of 1.59.

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

Hershey Announces Dividend

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

Analyst Ratings Changes

HSY has been the topic of a number of recent research reports. Mizuho raised their price target on shares of Hershey from $155.00 to $165.00 and gave the company a “neutral” rating in a report on Monday. Morgan Stanley cut their target price on Hershey from $183.00 to $177.00 and set an “equal weight” rating on the stock in a report on Thursday, April 17th. Stifel Nicolaus upped their price target on Hershey from $160.00 to $180.00 and gave the stock a “hold” rating in a research note on Tuesday. Royal Bank Of Canada lowered their price objective on Hershey from $178.00 to $175.00 and set a “sector perform” rating on the stock in a report on Friday, May 2nd. Finally, UBS Group reduced their target price on Hershey from $175.00 to $170.00 and set a “neutral” rating for the company in a report on Friday, May 2nd. Six equities research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $161.74.

Insider Buying and Selling

In other news, SVP James Turoff sold 1,300 shares of Hershey stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $175.00, for a total transaction of $227,500.00. Following the sale, the senior vice president directly owned 25,321 shares in the company, valued at approximately $4,431,175. The trade was a 4.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michele Buck sold 31,210 shares of the company’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $160.80, for a total transaction of $5,018,568.00. Following the completion of the sale, the chief executive officer directly owned 193,624 shares in the company, valued at approximately $31,134,739.20. The trade was a 13.88% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 99,021 shares of company stock worth $17,189,088. Insiders own 0.28% of the company’s stock.

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.