Hershey Company (The) (NYSE:HSY) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH decreased its stake in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 79.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 15,994 shares of the company's stock after selling 62,121 shares during the period. Allianz Asset Management GmbH's holdings in Hershey were worth $2,735,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HSY. Norges Bank purchased a new stake in Hershey during the fourth quarter valued at about $5,618,000. Brown Brothers Harriman & Co. raised its position in Hershey by 51.4% during the fourth quarter. Brown Brothers Harriman & Co. now owns 710 shares of the company's stock valued at $120,000 after purchasing an additional 241 shares in the last quarter. Allstate Corp purchased a new stake in Hershey during the fourth quarter valued at about $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 purchasing an additional 94,539 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Hershey by 19.5% during the fourth quarter. Franklin Resources Inc. now owns 260,554 shares of the company's stock valued at $44,125,000 after purchasing an additional 42,499 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Stock Up 1.4%

Shares of NYSE HSY traded up $2.57 during mid-day trading on Friday, reaching $188.70. The company had a trading volume of 2,072,840 shares, compared to its average volume of 1,879,591. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 1.15. The firm has a 50 day simple moving average of $169.92 and a two-hundred day simple moving average of $165.88. The stock has a market cap of $38.23 billion, a P/E ratio of 25.06, a PEG ratio of 4.56 and a beta of 0.30. Hershey Company has a 52-week low of $140.13 and a 52-week high of $208.03.

Hershey (NYSE:HSY - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.21 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.23. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.50 billion. Hershey had a net margin of 13.54% and a return on equity of 37.36%. The company's revenue was up 26.0% on a year-over-year basis. During the same period last year, the firm posted $1.27 EPS. Sell-side analysts predict that Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be paid a $1.37 dividend. The ex-dividend date is Friday, August 15th. This represents a $5.48 annualized dividend and a dividend yield of 2.9%. Hershey's dividend payout ratio (DPR) is 67.57%.

Insider Transactions at Hershey

In other Hershey news, CFO Steven E. Voskuil sold 5,000 shares of Hershey stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $180.00, for a total transaction of $900,000.00. Following the completion of the transaction, the chief financial officer owned 61,319 shares in the company, valued at approximately $11,037,420. The trade was a 7.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michele Buck sold 19,290 shares of Hershey stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $194.00, for a total transaction of $3,742,260.00. Following the transaction, the chief executive officer owned 193,624 shares of the company's stock, valued at approximately $37,563,056. The trade was a 9.06% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 118,311 shares of company stock valued at $20,931,348. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Stifel Nicolaus raised their price target on Hershey from $160.00 to $180.00 and gave the company a "hold" rating in a research report on Tuesday. UBS Group decreased their price objective on Hershey from $175.00 to $170.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Bank of America lifted their price objective on Hershey from $175.00 to $208.00 and gave the stock a "neutral" rating in a report on Thursday. Royal Bank Of Canada decreased 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, Morgan Stanley lifted their price objective on Hershey from $173.00 to $189.00 and gave the stock an "equal weight" rating in a report on Thursday. Six research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to data from MarketBeat.com, Hershey presently has an average rating of "Hold" and an average price target of $168.37.

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.