Private Advisor Group LLC Sells 22,905 Shares of Hershey Company (The) (NYSE:HSY)

Private Advisor Group LLC lowered its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 49.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,239 shares of the company's stock after selling 22,905 shares during the period. Private Advisor Group LLC's holdings in Hershey were worth $3,975,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Montag & Caldwell LLC bought a new position in Hershey during the fourth quarter valued at about $25,000. Putney Financial Group LLC bought a new position in Hershey during the fourth quarter valued at about $25,000. Mpwm Advisory Solutions LLC bought a new position in Hershey during the fourth quarter valued at about $28,000. Proffitt & Goodson Inc. bought a new position in Hershey during the first quarter valued at about $28,000. Finally, Tradewinds Capital Management LLC raised its position in shares of Hershey by 129.5% during the first quarter. Tradewinds Capital Management LLC now owns 179 shares of the company's stock worth $31,000 after purchasing an additional 101 shares during the period. Institutional investors own 57.96% of the company's stock.

Hershey Stock Up 2.0%

Shares of HSY traded up $3.64 during trading hours on Friday, hitting $187.54. 1,943,816 shares of the company were exchanged, compared to its average volume of 1,819,132. The company has a market cap of $38.00 billion, a PE ratio of 23.12, a PEG ratio of 7.05 and a beta of 0.30. The firm's 50 day moving average is $167.36 and its 200-day moving average is $165.18. Hershey Company has a 52 week low of $140.13 and a 52 week high of $208.03. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.11 and a current ratio of 1.59.

Hershey (NYSE:HSY - Get Free Report) last released 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 company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.81 billion. Hershey had a return on equity of 38.70% and a net margin of 15.32%. The firm's revenue was down 13.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.07 EPS. On average, equities research analysts forecast that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 16th were given a dividend of $1.37 per share. The ex-dividend date was Friday, May 16th. This represents a $5.48 annualized dividend and a dividend yield of 2.92%. Hershey's dividend payout ratio is presently 67.57%.

Analyst Upgrades and Downgrades

HSY has been the topic of a number of recent analyst reports. Barclays boosted their target price on Hershey from $160.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Mizuho cut their target price on Hershey from $167.00 to $155.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Citigroup cut 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 boosted 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. Finally, Royal Bank Of Canada cut their target price 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. Six analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $160.16.

Insider Buying and Selling at Hershey

In related news, CEO Michele Buck sold 31,210 shares of the business's stock in a transaction dated 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 owned 193,624 shares of the company's stock, valued at approximately $31,134,739.20. The trade was a 13.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven E. Voskuil sold 5,000 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $180.00, for a total value of $900,000.00. Following the transaction, the chief financial officer directly owned 61,319 shares of the company's stock, valued at $11,037,420. This represents a 7.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 99,021 shares of company stock worth $17,189,088 in the last ninety days. 0.34% of the stock is owned by insiders.

Hershey Company 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.