Principal Financial Group Inc. Decreases Holdings in Hershey Company (The) (NYSE:HSY)

Principal Financial Group Inc. trimmed its position in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 11.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 721,900 shares of the company's stock after selling 94,116 shares during the quarter. Principal Financial Group Inc. owned approximately 0.36% of Hershey worth $123,467,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in HSY. Trust Co. of Vermont raised its position in shares of Hershey by 2.4% in the first quarter. Trust Co. of Vermont now owns 2,691 shares of the company's stock valued at $460,000 after buying an additional 62 shares during the last quarter. UNIVEST FINANCIAL Corp grew its stake in Hershey by 1.5% during the 4th quarter. UNIVEST FINANCIAL Corp now owns 4,500 shares of the company's stock valued at $762,000 after acquiring an additional 68 shares in the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in Hershey by 2.6% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,768 shares of the company's stock valued at $473,000 after acquiring an additional 69 shares during the last quarter. Joel Isaacson & Co. LLC lifted its stake in Hershey by 3.0% in the 1st quarter. Joel Isaacson & Co. LLC now owns 2,407 shares of the company's stock worth $412,000 after purchasing an additional 69 shares in the last quarter. Finally, OLD Point Trust & Financial Services N A lifted its stake in Hershey by 2.2% in the 4th quarter. OLD Point Trust & Financial Services N A now owns 3,240 shares of the company's stock worth $549,000 after purchasing an additional 70 shares in the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP James Turoff sold 1,300 shares of Hershey stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $175.00, for a total value of $227,500.00. Following the completion of the transaction, the senior vice president directly owned 25,321 shares in the company, valued at approximately $4,431,175. This trade represents a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michele Buck sold 19,290 shares of the company's stock in a transaction dated 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 sale, the chief executive officer owned 193,624 shares in the company, valued at approximately $33,884,200. This trade represents a 9.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,107 shares of company stock worth $9,008,118 over the last ninety days. Insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

HSY has been the subject of a number of analyst reports. Morgan Stanley dropped their price target 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. Barclays upped their target price on Hershey from $160.00 to $165.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. UBS Group cut their target price on Hershey from $175.00 to $170.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Citigroup lowered their price target on shares of Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, Wall Street Zen upgraded shares of Hershey from a "sell" rating to a "hold" rating in a research report on Saturday, June 28th. Five investment analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $158.84.

Hershey Trading Down 2.3%

HSY traded down $4.08 during mid-day trading on Friday, hitting $173.00. 733,761 shares of the stock were exchanged, compared to its average volume of 1,793,894. The company has a market cap of $35.05 billion, a PE ratio of 21.33, a PEG ratio of 6.52 and a beta of 0.30. 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 firm's fifty day moving average is $165.42 and its two-hundred day moving average is $164.86. Hershey Company has a 1-year low of $140.13 and a 1-year high of $208.03.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.15. The business had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.81 billion. Hershey had a net margin of 15.32% and a return on equity of 38.70%. The business's quarterly revenue was down 13.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.07 earnings per share. Equities analysts forecast that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

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

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.