Bank of New York Mellon Corp Cuts Stock Position in Hershey Company (The) (NYSE:HSY)

Bank of New York Mellon Corp trimmed its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 960,542 shares of the company's stock after selling 12,692 shares during the period. Bank of New York Mellon Corp owned about 0.47% of Hershey worth $164,282,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HSY. Proficio Capital Partners LLC purchased a new position in Hershey in the 4th quarter worth approximately $18,273,000. Raymond James Financial Inc. purchased a new stake in Hershey during the 4th quarter valued at $80,978,000. Candriam S.C.A. boosted its position in Hershey by 18.6% during the 4th quarter. Candriam S.C.A. now owns 13,997 shares of the company's stock valued at $2,370,000 after buying an additional 2,194 shares during the period. Callan Family Office LLC purchased a new stake in Hershey during the 4th quarter valued at $529,000. Finally, Andra AP fonden purchased a new stake in Hershey during the 4th quarter valued at $864,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Stock Performance

Hershey stock traded up $0.18 during midday trading on Friday, reaching $164.82. 1,080,547 shares of the company traded hands, compared to its average volume of 1,806,630. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.59 and a quick ratio of 1.11. Hershey Company has a 12 month low of $140.13 and a 12 month high of $208.03. The firm has a market capitalization of $33.39 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 6.08 and a beta of 0.30. The business has a 50 day moving average of $165.61 and a two-hundred day moving average of $164.80.

Hershey (NYSE:HSY - Get Free Report) last announced 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 return on equity of 38.70% and a net margin of 15.32%. 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 firm posted $3.07 earnings per share. The business's revenue for the quarter was down 13.8% on a year-over-year basis. As a group, research analysts predict that Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 16th were issued a dividend of $1.37 per share. The ex-dividend date was Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a yield of 3.32%. Hershey's dividend payout ratio is currently 67.57%.

Insider Buying and Selling at Hershey

In other Hershey news, CEO Michele Buck sold 31,210 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $160.80, for a total value of $5,018,568.00. Following the completion of the sale, the chief executive officer owned 193,624 shares in the company, valued at $31,134,739.20. This represents a 13.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Rohit Grover sold 1,333 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 value of $233,275.00. Following the transaction, the insider directly owned 39,402 shares in the company, valued at approximately $6,895,350. The trade was a 3.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 54,107 shares of company stock valued at $9,008,118 over the last three months. Insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HSY. UBS Group reduced their price target on Hershey from $175.00 to $170.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company raised their price target on Hershey from $125.00 to $132.00 and gave the stock an "underweight" rating in a research note on Friday, March 14th. DA Davidson raised their price target on Hershey from $162.00 to $163.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Barclays boosted their price target on shares of Hershey from $160.00 to $165.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Finally, Wall Street Zen cut Hershey from a "hold" rating to a "sell" rating in a research note on Sunday, July 6th. Six investment analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $158.84.

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.