Hershey Company (The) (NYSE:HSY) Shares Bought by Moors & Cabot Inc.

Key Points

• Moors & Cabot Inc. increased its stake in Hershey Company by 35%, purchasing an additional 3,251 shares during the first quarter, bringing its total holdings to 12,552 shares valued at approximately $2.14 million.
• CEO Michele Buck sold 19,290 shares of Hershey stock for about $3.74 million, reducing her ownership by 9.06%, while CFO Steven E. Voskuil sold 5,000 shares valued at $900,000, decreasing his stake by 7.54%.
• Hershey recently declared a quarterly dividend of $1.37 per share, with the ex-dividend date set for August 15, representing an annualized yield of 2.9%.

Moors & Cabot Inc. raised its stake in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 35.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,552 shares of the company's stock after purchasing an additional 3,251 shares during the quarter. Moors & Cabot Inc.'s holdings in Hershey were worth $2,147,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Montag & Caldwell LLC purchased a new stake in Hershey during the fourth quarter valued at $25,000. Putney Financial Group LLC purchased a new stake in shares of Hershey in the fourth quarter valued at $25,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Hershey during the fourth quarter valued at approximately $28,000. Proffitt & Goodson Inc. bought a new position in Hershey in the 1st quarter valued at $28,000. Finally, Tradewinds Capital Management LLC lifted its holdings in Hershey by 129.5% during the 1st quarter. Tradewinds Capital Management LLC now owns 179 shares of the company's stock valued at $31,000 after buying an additional 101 shares in the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hershey

In related news, CEO Michele Buck sold 19,290 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $194.00, for a total transaction of $3,742,260.00. Following the completion of the transaction, the chief executive officer owned 193,624 shares of the company's stock, valued at approximately $37,563,056. This trade represents a 9.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jennifer Mccalman sold 974 shares of the business'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 value of $153,025.14. Following the completion of the sale, the chief accounting officer directly owned 2,994 shares in the company, valued at approximately $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 quarter, insiders sold 118,311 shares of company stock valued at $20,931,348. 0.28% of the stock is currently owned by company insiders.

Hershey Price Performance

Shares of Hershey stock traded up $1.22 on Monday, hitting $190.23. The company's stock had a trading volume of 1,344,950 shares, compared to its average volume of 2,005,858. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 1.53. Hershey Company has a 1 year low of $140.13 and a 1 year high of $208.03. The firm has a fifty day moving average price of $170.58 and a 200-day moving average price of $166.29. The company has a market capitalization of $38.54 billion, a price-to-earnings ratio of 25.26, a price-to-earnings-growth ratio of 4.56 and a beta of 0.27.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $1.21 EPS for the quarter, topping the consensus estimate of $0.98 by $0.23. The firm had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.50 billion. Hershey had a return on equity of 37.36% and a net margin of 13.54%. The firm's revenue for the quarter was up 26.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.27 earnings per share. As a group, sell-side analysts anticipate that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be given a dividend of $1.37 per share. The ex-dividend date is Friday, August 15th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.9%. Hershey's dividend payout ratio (DPR) is currently 72.78%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Morgan Stanley raised their target price on shares of Hershey from $173.00 to $189.00 and gave the company an "equal weight" rating in a research report on Thursday. Bank of America boosted their price objective on shares of Hershey from $175.00 to $208.00 and gave the stock a "neutral" rating in a research note on Thursday. Royal Bank Of Canada cut their price target on shares of Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Stifel Nicolaus raised their price objective on Hershey from $160.00 to $180.00 and gave the stock a "hold" rating in a research report on Tuesday, July 29th. Finally, Mizuho increased their price target on Hershey from $155.00 to $165.00 and gave the company a "neutral" rating in a research note on Monday, July 28th. Five analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $169.68.

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.