Insider Selling: The Hershey Company (NYSE:HSY) CEO Sells 31,210 Shares of Stock

The Hershey Company (NYSE:HSY - Get Free Report) CEO Michele Buck sold 31,210 shares of Hershey stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $160.80, for a total value 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 $31,134,739.20. This trade represents a 13.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Hershey Stock Performance

Shares of HSY traded up $1.25 during trading hours on Thursday, hitting $162.73. The stock had a trading volume of 1,403,798 shares, compared to its average volume of 1,778,130. The firm has a market capitalization of $32.97 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 5.90 and a beta of 0.32. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96. The firm has a 50-day moving average price of $163.49 and a 200 day moving average price of $166.03. The 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 results on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.15. The firm had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.81 billion. Hershey had a net margin of 19.83% and a return on equity of 44.77%. The firm's revenue for the quarter was down 13.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.07 EPS. As a group, research analysts anticipate that The Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 16th will be paid a dividend of $1.37 per share. The ex-dividend date is Friday, May 16th. This represents a $5.48 annualized dividend and a yield of 3.37%. Hershey's dividend payout ratio (DPR) is presently 67.57%.

Institutional Investors Weigh In On Hershey

Hedge funds have recently modified their holdings of the business. Montag & Caldwell LLC purchased a new position in Hershey in the fourth quarter worth approximately $25,000. Putney Financial Group LLC acquired a new position in shares of Hershey in the fourth quarter valued at approximately $25,000. Crowley Wealth Management Inc. purchased a new stake in shares of Hershey during the fourth quarter worth $28,000. Mpwm Advisory Solutions LLC acquired a new position in Hershey during the 4th quarter worth approximately $28,000. Finally, Proffitt & Goodson Inc. acquired a new position in shares of Hershey during the first quarter worth $28,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HSY. Morgan Stanley reduced their price target on Hershey from $183.00 to $177.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Royal Bank of Canada reduced 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. DA Davidson raised their price target on Hershey from $162.00 to $163.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Stifel Nicolaus cut their price objective on shares of Hershey from $170.00 to $160.00 and set a "hold" rating on the stock in a report on Friday, February 7th. Finally, Citigroup decreased their price objective on shares of Hershey from $173.00 to $165.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Five research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $158.84.

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.