Hershey Company (The) (NYSE:HSY) Stake Cut by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund reduced its holdings in Hershey Company (The) (NYSE:HSY - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,926 shares of the company's stock after selling 8,508 shares during the period. Illinois Municipal Retirement Fund's holdings in Hershey were worth $12,815,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Capital International Investors increased its position in Hershey by 31.4% in the 4th quarter. Capital International Investors now owns 12,460,147 shares of the company's stock worth $2,110,126,000 after purchasing an additional 2,980,997 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Hershey by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company's stock worth $785,003,000 after purchasing an additional 247,675 shares during the last quarter. Geode Capital Management LLC increased its position in Hershey by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 3,801,145 shares of the company's stock worth $642,139,000 after purchasing an additional 47,394 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Hershey by 38.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,628,047 shares of the company's stock worth $275,710,000 after purchasing an additional 453,428 shares during the last quarter. Finally, Northern Trust Corp increased its position in Hershey by 10.8% in the 4th quarter. Northern Trust Corp now owns 1,578,957 shares of the company's stock worth $267,396,000 after purchasing an additional 154,238 shares during the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Price Performance

Shares of HSY stock opened at $167.09 on Friday. The stock has a 50 day moving average of $164.67 and a two-hundred day moving average of $165.10. The company has a current ratio of 1.59, a quick ratio of 1.11 and a debt-to-equity ratio of 1.11. Hershey Company has a 12 month low of $140.13 and a 12 month high of $208.03. The company has a market capitalization of $33.85 billion, a P/E ratio of 20.60, a P/E/G ratio of 6.10 and a beta of 0.29.

Hershey (NYSE:HSY - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.09 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.15. Hershey had a return on equity of 38.70% and a net margin of 15.32%. The company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter last year, the company earned $3.07 EPS. The company's quarterly revenue was down 13.8% on a year-over-year basis. As a group, equities analysts expect that Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 16th were given a $1.37 dividend. The ex-dividend date was Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.28%. Hershey's dividend payout ratio is currently 67.57%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on HSY shares. Morgan Stanley dropped their target price on Hershey from $183.00 to $177.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Citigroup dropped their target price on Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Sanford C. Bernstein upped their target price on Hershey from $147.00 to $155.00 and gave the stock a "market perform" rating in a research report on Friday, May 2nd. UBS Group lowered their price objective on Hershey from $175.00 to $170.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Finally, Barclays increased their price objective on Hershey from $160.00 to $165.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Five research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $158.84.

Insider Buying and Selling

In related news, CEO Michele Buck sold 31,210 shares of the firm'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 transaction of $5,018,568.00. Following the completion of the transaction, the chief executive officer now owns 193,624 shares in the company, valued at $31,134,739.20. This trade represents a 13.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the chief accounting officer now owns 2,994 shares of the company's stock, valued at $470,387.34. This trade represents a 24.55% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by corporate insiders.

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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