Hershey Company (The) (NYSE:HSY) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC reduced its stake in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 84.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,605 shares of the company's stock after selling 50,802 shares during the period. Kingsview Wealth Management LLC's holdings in Hershey were worth $1,643,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Montag & Caldwell LLC acquired a new position in shares of Hershey during the 4th quarter worth approximately $25,000. Putney Financial Group LLC acquired a new position in Hershey in the 4th quarter valued at $25,000. Crowley Wealth Management Inc. acquired a new position in Hershey in the 4th quarter valued at $28,000. Mpwm Advisory Solutions LLC acquired a new position in Hershey in the 4th quarter valued at $28,000. Finally, Proffitt & Goodson Inc. acquired a new position in Hershey in the 1st quarter valued at $28,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HSY has been the subject of several analyst reports. Sanford C. Bernstein boosted their price target on Hershey from $147.00 to $155.00 and gave the company a "market perform" rating in a report on Friday, May 2nd. Wall Street Zen downgraded Hershey from a "hold" rating to a "sell" rating in a report on Sunday, July 6th. 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. Mizuho dropped their price objective on Hershey from $167.00 to $155.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Finally, DA Davidson upped their price objective on Hershey from $162.00 to $163.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Six analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $158.84.

Insider Buying and Selling at Hershey

In other Hershey news, insider Rohit Grover sold 1,333 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $175.00, for a total value of $233,275.00. Following the sale, the insider owned 39,402 shares in the company, valued at approximately $6,895,350. This trade represents a 3.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jennifer Mccalman sold 974 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $157.11, for a total transaction of $153,025.14. Following the completion of the sale, the chief accounting officer owned 2,994 shares in the company, valued at $470,387.34. The trade was a 24.55% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 54,107 shares of company stock worth $9,008,118. Insiders own 0.34% of the company's stock.

Hershey Stock Performance

Shares of HSY stock opened at $171.26 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.11 and a current ratio of 1.59. Hershey Company has a one year low of $140.13 and a one year high of $208.03. The company's 50-day simple moving average is $165.40 and its 200-day simple moving average is $164.62. The stock has a market capitalization of $34.70 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 6.41 and a beta of 0.30.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.94 by $0.15. Hershey had a net margin of 15.32% and a return on equity of 38.70%. The business had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.81 billion. During the same quarter last year, the company posted $3.07 earnings per share. The company's quarterly revenue was down 13.8% compared to the same quarter last year. Equities analysts anticipate that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

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 $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 3.20%. Hershey's dividend payout ratio is currently 67.57%.

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.

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