New York State Teachers Retirement System Reduces Holdings in Hershey Company (The) (NYSE:HSY)

New York State Teachers Retirement System decreased its position in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 4.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,391 shares of the company's stock after selling 5,302 shares during the quarter. New York State Teachers Retirement System owned 0.06% of Hershey worth $19,735,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of HSY. Amalgamated Bank boosted its holdings in Hershey by 0.9% in the first quarter. Amalgamated Bank now owns 28,936 shares of the company's stock valued at $4,949,000 after purchasing an additional 269 shares during the last quarter. Northcape Wealth Management LLC grew its stake in shares of Hershey by 25.2% during the 1st quarter. Northcape Wealth Management LLC now owns 1,637 shares of the company's stock worth $280,000 after purchasing an additional 330 shares during the period. Emerald Advisors LLC acquired a new stake in Hershey during the first quarter valued at $275,000. Joel Isaacson & Co. LLC increased its holdings in Hershey by 3.0% in the first quarter. Joel Isaacson & Co. LLC now owns 2,407 shares of the company's stock valued at $412,000 after buying an additional 69 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Hershey by 1.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 365,503 shares of the company's stock worth $62,512,000 after acquiring an additional 5,108 shares during the period. Institutional investors and hedge funds own 57.96% of the company's stock.

Hershey Trading Down 2.3%

Shares of NYSE:HSY traded down $4.08 during midday trading on Thursday, reaching $173.00. 733,761 shares of the company's stock were exchanged, compared to its average volume of 1,790,790. The stock has a market cap of $35.05 billion, a price-to-earnings ratio of 21.33, a P/E/G ratio of 6.49 and a beta of 0.30. Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $208.03. The firm's 50 day simple moving average is $165.04 and its two-hundred day simple moving average is $164.92. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.59 and a quick ratio of 1.11.

Hershey (NYSE:HSY - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $2.09 earnings per share 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 business 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 earned $3.07 earnings per share. The business's revenue for the quarter was down 13.8% on a year-over-year basis. As a group, sell-side analysts forecast that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 16th were paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date was Friday, May 16th. Hershey's dividend payout ratio (DPR) is 67.57%.

Insider Buying and Selling at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 974 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $157.11, for a total transaction of $153,025.14. Following the sale, the chief accounting officer directly owned 2,994 shares in the company, valued at $470,387.34. This represents a 24.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michele Buck sold 31,210 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $160.80, for a total transaction of $5,018,568.00. Following the sale, the chief executive officer directly owned 193,624 shares in the company, valued at $31,134,739.20. This represents a 13.88% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,474 shares of company stock valued at $8,547,343. Company insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Barclays lifted their price target on Hershey from $160.00 to $165.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. DA Davidson boosted their price objective on Hershey from $162.00 to $163.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Royal Bank Of Canada reduced their target price on Hershey from $178.00 to $175.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Mizuho dropped their price target on shares of Hershey from $167.00 to $155.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Finally, Sanford C. Bernstein upped their price objective on shares of Hershey from $147.00 to $155.00 and gave the stock a "market perform" rating in a research report on Friday, May 2nd. Five equities research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to MarketBeat.com, Hershey currently has an average rating of "Hold" and a consensus price target of $158.84.

Hershey 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.