M&T Bank Corp Boosts Holdings in Hershey Company (The) (NYSE:HSY)

M&T Bank Corp raised its holdings in Hershey Company (The) (NYSE:HSY - Free Report) by 14.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,507 shares of the company's stock after acquiring an additional 4,684 shares during the quarter. M&T Bank Corp's holdings in Hershey were worth $6,244,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Montag & Caldwell LLC acquired a new position in shares of Hershey during the 4th quarter worth $25,000. Putney Financial Group LLC purchased a new stake in shares of Hershey in the 4th quarter worth about $25,000. Crowley Wealth Management Inc. purchased a new stake in shares of Hershey in the 4th quarter worth about $28,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Hershey in the 4th quarter worth about $28,000. Finally, Proffitt & Goodson Inc. purchased a new stake in shares of Hershey in the 1st quarter worth about $28,000. Institutional investors and hedge funds own 57.96% of the company's stock.

Hershey Stock Performance

Shares of NYSE:HSY opened at $164.60 on Friday. The business's fifty day moving average price is $165.61 and its two-hundred day moving average price is $164.80. Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $208.03. The stock has a market capitalization of $33.35 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 5.98 and a beta of 0.30. 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 posted 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. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.81 billion. Hershey had a return on equity of 38.70% and a net margin of 15.32%. The business's revenue was down 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.07 earnings per share. As a group, analysts predict that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 16th were issued a $1.37 dividend. The ex-dividend date was Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a yield of 3.33%. Hershey's dividend payout ratio is presently 67.57%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HSY. Citigroup cut their target price on shares of Hershey from $173.00 to $165.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley cut their target price on shares of Hershey from $183.00 to $177.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Sanford C. Bernstein boosted their target price on shares of Hershey from $147.00 to $155.00 and gave the company a "market perform" rating in a research note on Friday, May 2nd. Wells Fargo & Company boosted their target price on shares of Hershey from $125.00 to $132.00 and gave the company an "underweight" rating in a research note on Friday, March 14th. Finally, Barclays boosted their target price on shares of Hershey from $160.00 to $165.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Six investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $158.84.

Insider Buying and Selling

In related news, insider Rohit Grover sold 1,333 shares of Hershey stock in a transaction dated Tuesday, July 1st. The stock was 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 of the company's stock, valued at approximately $6,895,350. The trade was a 3.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michele Buck sold 19,290 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $175.00, for a total value of $3,375,750.00. Following the transaction, the chief executive officer directly owned 193,624 shares in the company, valued at $33,884,200. This trade represents a 9.06% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 54,107 shares of company stock worth $9,008,118. Company insiders own 0.34% of the company's stock.

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.

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