Hershey Company (The) $HSY Shares Sold by Commerzbank Aktiengesellschaft FI

Key Points

• Commerzbank Aktiengesellschaft FI sharply reduced its Hershey stake by 88.4% in the first quarter, selling 9,397 shares and leaving it with 1,237 shares valued at about $257,000.
• Hershey insiders also trimmed holdings, with CFO Steven E. Voskuil selling 1,500 shares for about $260,145 in June, a 2.67% decrease in his direct ownership.
• Despite recent selling, Hershey posted solid fundamentals and shareholder returns, beating quarterly EPS and revenue expectations, while paying a quarterly dividend of $1.452 per share, or $5.81 annually at a 3.4% yield.

Commerzbank Aktiengesellschaft FI lessened its stake in Hershey Company (The) (NYSE:HSY - Free Report) by 88.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,237 shares of the company's stock after selling 9,397 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Hershey were worth $257,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bard Associates Inc. bought a new position in shares of Hershey in the fourth quarter valued at approximately $26,000. Reflection Asset Management bought a new stake in Hershey during the fourth quarter worth approximately $26,000. JPL Wealth Management LLC bought a new stake in Hershey during the third quarter worth approximately $26,000. Laurel Wealth Advisors LLC acquired a new stake in Hershey in the fourth quarter worth approximately $27,000. Finally, Manchester Capital Management LLC lifted its position in Hershey by 123.0% in the fourth quarter. Manchester Capital Management LLC now owns 165 shares of the company's stock worth $30,000 after purchasing an additional 91 shares during the period. Institutional investors and hedge funds own 57.96% of the company's stock.

Insider Activity at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $173.43, for a total value of $260,145.00. Following the transaction, the chief financial officer directly owned 54,695 shares of the company's stock, valued at $9,485,753.85. This trade represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.08% of the stock is currently owned by insiders.

Hershey Price Performance

Shares of NYSE:HSY opened at $172.31 on Thursday. The company has a market capitalization of $34.95 billion, a PE ratio of 32.09, a price-to-earnings-growth ratio of 1.06 and a beta of 0.11. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 1.24. The stock has a fifty day moving average of $180.95 and a 200-day moving average of $197.01. Hershey Company has a one year low of $161.43 and a one year high of $239.48.

Hershey (NYSE:HSY - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.04 by $0.31. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.03 billion. Hershey had a return on equity of 28.98% and a net margin of 9.12%.Hershey's revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.09 earnings per share. As a group, equities analysts anticipate that Hershey Company will post 8.42 EPS for the current fiscal year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were paid a dividend of $1.452 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $5.81 dividend on an annualized basis and a yield of 3.4%. Hershey's dividend payout ratio is currently 108.19%.

Analysts Set New Price Targets

HSY has been the topic of several research analyst reports. Stifel Nicolaus lowered their price target on Hershey from $215.00 to $180.00 and set a "hold" rating on the stock in a research report on Wednesday. UBS Group cut their price objective on Hershey from $200.00 to $190.00 and set a "neutral" rating for the company in a report on Thursday, July 16th. Zacks Research cut Hershey from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Bank of America lowered their target price on Hershey from $220.00 to $200.00 and set a "neutral" rating on the stock in a report on Thursday, June 25th. Finally, Morgan Stanley dropped their price target on shares of Hershey from $247.00 to $227.00 and set an "overweight" rating on the stock in a research report on Thursday, April 23rd. Seven equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $209.94.

Hershey Profile

The Hershey Company NYSE: HSY is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey's business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey's product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey's, Reese's, Hershey's Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.

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