Fragasso Financial Advisors Inc cut its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 40.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,531 shares of the company's stock after selling 8,421 shares during the period. Fragasso Financial Advisors Inc's holdings in Hershey were worth $2,143,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also made changes to their positions in HSY. LaFleur & Godfrey LLC increased its position in Hershey by 8.3% during the 4th quarter. LaFleur & Godfrey LLC now owns 46,708 shares of the company's stock valued at $7,910,000 after purchasing an additional 3,578 shares during the period. Blue Trust Inc. boosted its stake in shares of Hershey by 57.5% during the fourth quarter. Blue Trust Inc. now owns 1,682 shares of the company's stock valued at $285,000 after purchasing an additional 614 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Hershey by 1.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 11,516 shares of the company's stock valued at $1,950,000 after buying an additional 190 shares during the period. OLD National Bancorp IN increased its holdings in Hershey by 8.4% during the fourth quarter. OLD National Bancorp IN now owns 3,309 shares of the company's stock valued at $560,000 after buying an additional 256 shares during the period. Finally, Caprock Group LLC raised its stake in Hershey by 10.5% in the fourth quarter. Caprock Group LLC now owns 3,311 shares of the company's stock worth $561,000 after buying an additional 315 shares in the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.
Hershey Stock Performance
HSY stock traded down $1.62 during midday trading on Wednesday, reaching $161.46. The stock had a trading volume of 1,104,004 shares, compared to its average volume of 1,778,455. The firm has a fifty day simple moving average of $163.66 and a two-hundred day simple moving average of $166.06. The Hershey Company has a 52-week low of $140.13 and a 52-week high of $208.03. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96. The stock has a market cap of $32.71 billion, a PE ratio of 14.81, a P/E/G ratio of 5.90 and a beta of 0.32.
Hershey (NYSE:HSY - Get Free Report) last announced its quarterly earnings data 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 44.77% and a net margin of 19.83%. The firm had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.81 billion. During the same period last year, the business posted $3.07 earnings per share. The company's revenue for the quarter was down 13.8% compared to the same quarter last year. As a group, equities research analysts anticipate that The Hershey Company will post 6.12 EPS for the current year.
Hershey Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend is Friday, May 16th. Hershey's dividend payout ratio (DPR) is currently 67.57%.
Wall Street Analysts Forecast Growth
HSY has been the topic of several recent research reports. Wells Fargo & Company increased their target price on Hershey from $125.00 to $132.00 and gave the company an "underweight" rating in a research report on Friday, March 14th. Barclays upped their price objective on Hershey from $160.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. DA Davidson lifted their target price on Hershey from $162.00 to $163.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Mizuho reduced their target price on shares of Hershey from $167.00 to $155.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Finally, Bernstein Bank lowered their price target on shares of Hershey from $177.00 to $146.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. Five analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $158.84.
Check Out Our Latest Research Report on Hershey
Insider Transactions at Hershey
In other Hershey news, CAO Jennifer Mccalman sold 974 shares of Hershey stock in a transaction dated 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 owns 2,994 shares in the company, valued at approximately $470,387.34. This trade represents a 24.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 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. Company insiders own 0.34% of the company's stock.
Hershey Profile
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Free Report)
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.
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