Pittenger & Anderson Inc. Trims Stock Holdings in Hershey Company (The) (NYSE:HSY)

Pittenger & Anderson Inc. lowered its stake in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 98.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 200 shares of the company's stock after selling 14,524 shares during the period. Pittenger & Anderson Inc.'s holdings in Hershey were worth $34,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HSY. Montag & Caldwell LLC purchased a new stake in Hershey in the 4th quarter worth approximately $25,000. Putney Financial Group LLC bought a new position in shares of Hershey in the fourth quarter worth $25,000. Crowley Wealth Management Inc. bought a new stake in Hershey during the fourth quarter valued at $28,000. Mpwm Advisory Solutions LLC purchased a new position in Hershey during the fourth quarter worth about $28,000. Finally, Proffitt & Goodson Inc. bought a new position in Hershey in the 1st quarter worth about $28,000. Hedge funds and other institutional investors own 57.96% of the company's stock.

Insider Buying and Selling

In related news, CAO Jennifer Mccalman sold 974 shares of the company'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 sale, the chief accounting officer now owns 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michele Buck sold 31,210 shares of the 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 approximately $31,134,739.20. This trade represents a 13.88% decrease in their position. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.

Hershey Stock Performance

Shares of HSY stock opened at $171.70 on Monday. The company has a current ratio of 1.59, a quick ratio of 1.11 and a debt-to-equity ratio of 1.11. The company has a market cap of $34.79 billion, a PE ratio of 21.17, a PEG ratio of 6.26 and a beta of 0.29. Hershey Company has a 12-month low of $140.13 and a 12-month high of $208.03. The business's fifty day simple moving average is $164.44 and its 200-day simple moving average is $165.37.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.94 by $0.15. The business 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 company'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. Analysts expect that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 16th were issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Friday, May 16th. Hershey's dividend payout ratio (DPR) is presently 67.57%.

Wall Street Analysts Forecast Growth

HSY has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Hershey from $160.00 to $165.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. DA Davidson raised their price target on Hershey from $162.00 to $163.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Mizuho cut 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. Royal Bank Of Canada reduced their price objective on Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Finally, Morgan Stanley dropped their target price on Hershey from $183.00 to $177.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Five analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $158.84.

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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