Grimes & Company Inc. Has $16.67 Million Stake in The Hershey Company (NYSE:HSY)

Grimes & Company Inc. boosted its holdings in shares of The Hershey Company (NYSE:HSY - Free Report) by 29.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,460 shares of the company's stock after purchasing an additional 22,352 shares during the period. Grimes & Company Inc.'s holdings in Hershey were worth $16,669,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Montag & Caldwell LLC bought a new position in Hershey in the 4th quarter valued at $25,000. Putney Financial Group LLC bought a new position in Hershey in the 4th quarter valued at $25,000. Crowley Wealth Management Inc. bought a new position in Hershey in the 4th quarter valued at $28,000. Mpwm Advisory Solutions LLC bought a new position in Hershey in the 4th quarter valued at $28,000. Finally, Vision Financial Markets LLC bought a new position in Hershey in the 4th quarter valued at $29,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Stock Up 0.8%

NYSE:HSY opened at $170.40 on Tuesday. 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 company has a market cap of $34.52 billion, a PE ratio of 15.63, a PEG ratio of 5.90 and a beta of 0.29. The Hershey Company has a 52-week low of $140.13 and a 52-week high of $208.03. The stock has a 50-day simple moving average of $164.00 and a 200 day simple moving average of $165.57.

Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.15. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.81 billion. Hershey had a return on equity of 44.77% and a net margin of 19.83%. Hershey's quarterly revenue was down 13.8% on a year-over-year basis. During the same period last year, the company earned $3.07 earnings per share. On average, sell-side analysts expect that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 16th were paid a $1.37 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a yield of 3.22%. Hershey's dividend payout ratio is 67.57%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Mizuho decreased their price objective on Hershey from $167.00 to $155.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Wells Fargo & Company increased their price objective on Hershey from $125.00 to $132.00 and gave the company an "underweight" rating in a research report on Friday, March 14th. Barclays raised their price target on Hershey from $160.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Royal Bank of Canada dropped their price objective on Hershey from $178.00 to $175.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Finally, Citigroup cut their target price on Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Five research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $158.84.

Insider Buying and Selling at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 974 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value 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 trade represents a 24.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 value of $5,018,568.00. Following the completion of the transaction, the chief executive officer now owns 193,624 shares of the company's stock, valued at approximately $31,134,739.20. This represents a 13.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company's stock.

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.

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