Royal Bank of Canada Reduces Holdings in The Hershey Company (NYSE:HSY)

Royal Bank of Canada cut its stake in shares of The Hershey Company (NYSE:HSY - Free Report) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,196,021 shares of the company's stock after selling 22,750 shares during the quarter. Royal Bank of Canada owned approximately 1.09% of Hershey worth $371,895,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Montag & Caldwell LLC bought a new stake in Hershey in the 4th quarter valued at about $25,000. Crowley Wealth Management Inc. acquired a new position in Hershey during the 4th quarter valued at about $28,000. Grove Bank & Trust boosted its stake in Hershey by 248.0% during the 4th quarter. Grove Bank & Trust now owns 174 shares of the company's stock valued at $29,000 after purchasing an additional 124 shares during the last quarter. Vision Financial Markets LLC acquired a new position in Hershey during the 4th quarter valued at about $29,000. Finally, Lee Danner & Bass Inc. acquired a new position in Hershey during the 4th quarter valued at about $34,000. 57.96% of the stock is owned by institutional investors.

Hershey Stock Performance

Shares of NYSE:HSY traded down $0.82 on Tuesday, hitting $155.73. 1,679,401 shares of the company were exchanged, compared to its average volume of 1,774,843. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68. The stock's 50 day moving average price is $166.08 and its 200 day moving average price is $167.54. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $209.65. The firm has a market capitalization of $31.52 billion, a P/E ratio of 14.29, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32.

Hershey (NYSE:HSY - Get Free Report) last issued its 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. Hershey had a net margin of 19.83% and a return on equity of 44.77%. The firm had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.81 billion. During the same quarter last year, the company posted $3.07 earnings per share. The firm's revenue was down 13.8% compared to the same quarter last year. Sell-side analysts predict that The Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 16th will be issued a $1.37 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $5.48 annualized dividend and a yield of 3.52%. Hershey's payout ratio is 67.57%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. 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 note on Friday, May 2nd. Barclays upped their price objective on Hershey from $160.00 to $165.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Piper Sandler downgraded Hershey from a "neutral" rating to an "underweight" rating and dropped their price objective for the company from $153.00 to $120.00 in a research note on Friday, January 31st. Bernstein Bank lowered their target price on shares of Hershey from $177.00 to $146.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. Finally, Morgan Stanley lowered their target price on shares of Hershey from $183.00 to $177.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Five investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. According to data from MarketBeat, Hershey has a consensus rating of "Hold" and a consensus price target of $161.40.

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.