The Hershey Company (NYSE:HSY) Shares Sold by Mechanics Bank Trust Department

Mechanics Bank Trust Department trimmed its holdings in The Hershey Company (NYSE:HSY) by 38.0% during the first quarter, HoldingsChannel.com reports. The firm owned 1,675 shares of the company’s stock after selling 1,025 shares during the period. Mechanics Bank Trust Department’s holdings in Hershey were worth $286,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. LaFleur & Godfrey LLC increased its holdings in shares of Hershey by 8.3% in the 4th quarter. LaFleur & Godfrey LLC now owns 46,708 shares of the company’s stock valued at $7,910,000 after acquiring an additional 3,578 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Hershey by 57.5% in the 4th quarter. Blue Trust Inc. now owns 1,682 shares of the company’s stock valued at $285,000 after acquiring an additional 614 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Hershey by 1.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 11,516 shares of the company’s stock valued at $1,950,000 after acquiring an additional 190 shares during the last quarter. OLD National Bancorp IN increased its holdings in shares of Hershey by 8.4% in the 4th quarter. OLD National Bancorp IN now owns 3,309 shares of the company’s stock valued at $560,000 after acquiring an additional 256 shares during the last quarter. Finally, Caprock Group LLC increased its holdings in shares of Hershey by 10.5% in the 4th quarter. Caprock Group LLC now owns 3,311 shares of the company’s stock valued at $561,000 after acquiring an additional 315 shares during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Trading Down 0.4%

NYSE:HSY opened at $160.65 on Monday. The Hershey Company has a 1 year low of $140.13 and a 1 year high of $208.03. The stock has a market cap of $32.55 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 5.90 and a beta of 0.32. The business has a fifty day moving average of $163.95 and a 200-day moving average of $166.15. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96.

Hershey (NYSE:HSY) 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. Hershey had a return on equity of 44.77% and a net margin of 19.83%. The company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the prior year, the business posted $3.07 earnings per share. The company’s revenue for the quarter was down 13.8% compared to the same quarter last year. Equities analysts predict that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be issued a $1.37 dividend. The ex-dividend date is Friday, May 16th. This represents a $5.48 annualized dividend and a dividend yield of 3.41%. Hershey’s dividend payout ratio (DPR) is 67.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on HSY shares. Wells Fargo & Company boosted their price target on Hershey from $125.00 to $132.00 and gave the company an “underweight” rating in a report on Friday, March 14th. Mizuho lowered their price target on Hershey from $167.00 to $155.00 and set a “neutral” rating for the company in a report on Wednesday, May 28th. Stifel Nicolaus lowered their price target on Hershey from $170.00 to $160.00 and set a “hold” rating for the company in a report on Friday, February 7th. Royal Bank of Canada lowered their price objective on Hershey from $178.00 to $175.00 and set a “sector perform” rating for the company in a research note on Friday, May 2nd. Finally, Bernstein Bank lowered their price objective on Hershey from $177.00 to $146.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Five analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $158.84.

Insider Activity

In other news, CAO Jennifer Mccalman sold 974 shares of the company’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value of $153,025.14. Following the completion of the sale, the chief accounting officer now owns 2,994 shares in the company, valued at $470,387.34. This represents a 24.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.34% of the company’s stock.

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.