The Hershey Company (NYSE:HSY) Stake Trimmed by American National Bank & Trust

American National Bank & Trust reduced its position in The Hershey Company (NYSE:HSY - Free Report) by 72.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 664 shares of the company's stock after selling 1,709 shares during the quarter. American National Bank & Trust's holdings in Hershey were worth $114,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in HSY. Elevate Capital Advisors LLC purchased a new position in Hershey in the fourth quarter valued at about $1,939,000. Ethos Financial Group LLC grew its position in shares of Hershey by 59.8% in the 4th quarter. Ethos Financial Group LLC now owns 3,962 shares of the company's stock worth $671,000 after buying an additional 1,483 shares during the last quarter. DJE Kapital AG bought a new position in shares of Hershey during the 4th quarter worth approximately $1,040,000. Willis Investment Counsel lifted its position in Hershey by 46.2% during the fourth quarter. Willis Investment Counsel now owns 140,579 shares of the company's stock valued at $23,807,000 after acquiring an additional 44,431 shares during the last quarter. Finally, Old North State Wealth Management LLC acquired a new stake in Hershey in the fourth quarter valued at approximately $513,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on HSY shares. Wells Fargo & Company increased their price objective on Hershey from $125.00 to $132.00 and gave the company an "underweight" rating in a report on Friday, March 14th. Stifel Nicolaus cut their price objective on shares of Hershey from $170.00 to $160.00 and set a "hold" rating for the company in a report on Friday, February 7th. Royal Bank of Canada lowered their target price on shares of Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Mizuho dropped their price objective on Hershey from $167.00 to $155.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Finally, Morgan Stanley reduced their target price on Hershey from $183.00 to $177.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Five investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. Based on data from MarketBeat.com, Hershey has an average rating of "Hold" and a consensus target price of $158.84.

Hershey Trading Down 0.8%

Shares of NYSE HSY traded down $1.35 during midday trading on Wednesday, reaching $161.73. 639,275 shares of the stock were exchanged, compared to its average volume of 1,777,204. The stock has a 50 day moving average price of $163.66 and a 200-day moving average price of $166.06. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $32.77 billion, a P/E ratio of 14.84, a P/E/G ratio of 5.90 and a beta of 0.32. The 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 released its earnings results on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.15. Hershey had a net margin of 19.83% and a return on equity of 44.77%. The business had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.81 billion. During the same period last year, the company earned $3.07 earnings per share. The company's quarterly revenue was down 13.8% on a year-over-year basis. Equities research analysts expect that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Friday, May 16th. Hershey's payout ratio is 67.57%.

Insiders Place Their Bets

In related news, CAO Jennifer Mccalman sold 974 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total transaction of $153,025.14. Following the completion of the transaction, the chief accounting officer now directly owns 2,994 shares in the company, valued at $470,387.34. This represents a 24.55% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michele Buck sold 31,210 shares of the firm's stock in a transaction that occurred on 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 now owns 193,624 shares in the company, valued at $31,134,739.20. The trade was a 13.88% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

About Hershey

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.