KBC Group NV Sells 12,604 Shares of Hershey Company (The) (NYSE:HSY)

KBC Group NV decreased its position in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 23.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 40,994 shares of the company's stock after selling 12,604 shares during the quarter. KBC Group NV's holdings in Hershey were worth $7,011,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Montag & Caldwell LLC purchased a new position in shares of Hershey in the fourth quarter valued at $25,000. Putney Financial Group LLC bought a new position in Hershey in the 4th quarter worth about $25,000. Crowley Wealth Management Inc. purchased a new position in Hershey during the 4th quarter valued at about $28,000. Mpwm Advisory Solutions LLC purchased a new position in Hershey during the 4th quarter valued at about $28,000. Finally, Vision Financial Markets LLC bought a new stake in shares of Hershey during the fourth quarter valued at about $29,000. Institutional investors own 57.96% of the company's stock.

Hershey Price Performance

HSY traded up $1.37 during midday trading on Wednesday, hitting $177.18. The stock had a trading volume of 1,071,513 shares, compared to its average volume of 1,794,396. Hershey Company has a 1 year low of $140.13 and a 1 year high of $208.03. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.11 and a current ratio of 1.59. The business has a fifty day moving average of $164.83 and a 200 day moving average of $164.84. The company has a market cap of $35.90 billion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 6.06 and a beta of 0.30.

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, beating analysts' consensus estimates of $1.94 by $0.15. Hershey had a net margin of 15.32% and a return on equity of 38.70%. The company had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.81 billion. During the same quarter in the prior year, the company earned $3.07 EPS. The firm's revenue was down 13.8% on a year-over-year basis. As a group, equities analysts forecast that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 16th were paid 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 dividend yield of 3.09%. Hershey's dividend payout ratio (DPR) is currently 67.57%.

Insider Activity

In other Hershey news, CEO Michele Buck sold 31,210 shares of the business's stock in a transaction that occurred on 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 approximately $31,134,739.20. The trade was a 13.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Jennifer Mccalman sold 974 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $157.11, for a total value of $153,025.14. Following the sale, the chief accounting officer directly owned 2,994 shares of the company's stock, valued at approximately $470,387.34. This trade represents a 24.55% decrease in their position. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Hershey from a "sell" rating to a "hold" rating in a research report on Saturday. 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. 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. Wells Fargo & Company increased their price objective on Hershey from $125.00 to $132.00 and gave the stock an "underweight" rating in a research report on Friday, March 14th. Finally, Citigroup dropped their price objective on Hershey from $173.00 to $165.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Five analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $158.84.

Hershey Company 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.