Hershey Company (The) (NYSE:HSY) Shares Sold by SlateStone Wealth LLC

Key Points

• SlateStone Wealth LLC reduced its stake in Hershey Company by 29.1%, selling 1,999 shares to hold a total of 4,882 shares valued at $835,000 as of the end of the recent quarter.
• Insider selling increased, with CEO Michele Buck selling 19,290 shares for over $3.5 million, marking a 9.06% decrease in her position.
• Hershey announced a quarterly dividend of $1.37 per share, reflecting a 2.90% yield based on an annualized basis.

SlateStone Wealth LLC decreased its stake in Hershey Company (The) (NYSE:HSY - Free Report) by 29.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,882 shares of the company's stock after selling 1,999 shares during the quarter. SlateStone Wealth LLC's holdings in Hershey were worth $835,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Montag & Caldwell LLC purchased a new position in shares of Hershey in the 4th quarter worth approximately $25,000. Putney Financial Group LLC purchased a new position in shares of Hershey in the 4th quarter worth approximately $25,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Hershey in the 4th quarter worth approximately $28,000. Proffitt & Goodson Inc. purchased a new position in shares of Hershey in the 1st quarter worth approximately $28,000. Finally, Tradewinds Capital Management LLC boosted its holdings in shares of Hershey by 129.5% in the 1st 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. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Stock Up 1.4%

Shares of HSY traded up $2.57 during trading hours on Friday, hitting $188.70. The company had a trading volume of 2,072,840 shares, compared to its average volume of 1,902,214. The company has a market capitalization of $38.23 billion, a PE ratio of 25.06, a price-to-earnings-growth ratio of 4.49 and a beta of 0.30. The company has a current ratio of 1.53, a quick ratio of 1.11 and a debt-to-equity ratio of 1.15. Hershey Company has a one year low of $140.13 and a one year high of $208.03. The company's fifty day moving average price is $170.58 and its two-hundred day moving average price is $166.11.

Hershey (NYSE:HSY - Get Free Report) last released 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 analyst estimates of $2.50 billion. Hershey had a return on equity of 37.36% and a net margin of 13.54%. The business's revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.27 EPS. As a group, 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 announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, August 15th. Hershey's dividend payout ratio is currently 72.78%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Morgan Stanley lifted their target price on Hershey from $173.00 to $189.00 and gave the stock an "equal weight" rating in a report on Thursday. Stifel Nicolaus boosted their price objective on Hershey from $160.00 to $180.00 and gave the company a "hold" rating in a report on Tuesday. Wells Fargo & Company boosted their price objective on Hershey from $135.00 to $154.00 and gave the company an "underweight" rating in a report on Thursday. Piper Sandler boosted their price objective on Hershey from $145.00 to $160.00 and gave the company an "underweight" rating in a report on Thursday. Finally, Royal Bank Of Canada dropped their price objective on Hershey from $178.00 to $175.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Five research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. According to MarketBeat.com, Hershey has an average rating of "Hold" and a consensus price target of $168.37.

Insider Activity at Hershey

In related news, insider Rohit Grover sold 1,334 shares of Hershey stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $180.00, for a total value of $240,120.00. Following the completion of the sale, the insider directly owned 38,068 shares in the company, valued at $6,852,240. This trade represents a 3.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michele Buck sold 31,210 shares of Hershey 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 sale, the chief executive officer owned 193,624 shares of the company's stock, valued at $31,134,739.20. This trade represents a 13.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 118,311 shares of company stock worth $20,931,348 over the last ninety days. Corporate insiders own 0.34% of the company's stock.

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.