Hershey Company (The) (NYSE:HSY) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc has reduced its stake in Hershey Company by 11.7%, selling 39,567 shares and now holding approximately 297,512 shares valued at around $50.88 million.
• Several institutional investors, including Capital International Investors and UBS AM, have increased their positions in Hershey, reflecting a broader trend, with institutional ownership now at 57.96%.
• Hershey recently announced a quarterly dividend of $1.37 per share, translating to an annualized dividend yield of 2.94%, with a payout ratio of 67.57%.

TD Asset Management Inc trimmed its stake in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 11.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 297,512 shares of the company's stock after selling 39,567 shares during the period. TD Asset Management Inc owned about 0.15% of Hershey worth $50,883,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of HSY. Kennon Green & Company LLC increased its stake in shares of Hershey by 33.3% during the 1st quarter. Kennon Green & Company LLC now owns 43,146 shares of the company's stock worth $7,379,000 after purchasing an additional 10,784 shares in the last quarter. William Allan Corp increased its position in Hershey by 173.1% during the first quarter. William Allan Corp now owns 18,593 shares of the company's stock worth $3,180,000 after buying an additional 11,785 shares in the last quarter. IFM Investors Pty Ltd increased its position in Hershey by 9.5% during the first quarter. IFM Investors Pty Ltd now owns 31,925 shares of the company's stock worth $5,460,000 after buying an additional 2,757 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Hershey by 8.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,625 shares of the company's stock worth $3,186,000 after acquiring an additional 1,390 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its position in shares of Hershey by 8.1% in the first quarter. Vontobel Holding Ltd. now owns 21,151 shares of the company's stock valued at $3,617,000 after acquiring an additional 1,582 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Trading Up 1.7%

HSY stock traded up $3.25 during midday trading on Friday, reaching $189.38. 845,585 shares of the company's stock traded hands, compared to its average volume of 1,870,327. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.53 and a quick ratio of 1.11. The company has a market capitalization of $38.37 billion, a P/E ratio of 25.14, a PEG ratio of 4.56 and a beta of 0.30. The business has a 50-day moving average price of $169.92 and a two-hundred day moving average price of $165.88. Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $208.03.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $1.21 EPS for the quarter, beating the consensus estimate of $0.98 by $0.23. The company had revenue of $2.61 billion for 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 firm's revenue was up 26.0% compared to the same quarter last year. During the same period last year, the company posted $1.27 earnings per share. Equities research analysts forecast that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Friday, August 15th. This represents a $5.48 annualized dividend and a yield of 2.9%. Hershey's payout ratio is 67.57%.

Analysts Set New Price Targets

A number of analysts recently commented on HSY shares. Wall Street Zen cut Hershey from a "hold" rating to a "sell" rating in a research report on Sunday, July 6th. Royal Bank Of Canada lowered their price target on shares of Hershey from $178.00 to $175.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Barclays upped their price objective on shares of Hershey from $165.00 to $190.00 and gave the company an "equal weight" rating in a research note on Friday. Stifel Nicolaus raised their target price on shares of Hershey from $160.00 to $180.00 and gave the stock a "hold" rating in a research report on Tuesday. Finally, Citigroup cut their price target on Hershey from $173.00 to $165.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Six analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $168.37.

Insider Transactions at Hershey

In related news, SVP James Turoff sold 1,300 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $175.00, for a total transaction of $227,500.00. Following the completion of the sale, the senior vice president directly owned 25,321 shares of the company's stock, valued at approximately $4,431,175. This trade represents a 4.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Jennifer Mccalman sold 974 shares of Hershey stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total transaction of $153,025.14. Following the sale, the chief accounting officer directly owned 2,994 shares in the company, valued at $470,387.34. This trade represents a 24.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 118,311 shares of company stock worth $20,931,348 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

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.