Chevy Chase Trust Holdings LLC Decreases Stake in Hershey Company (The) (NYSE:HSY)

Chevy Chase Trust Holdings LLC lowered its stake in Hershey Company (The) (NYSE:HSY) by 1.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 81,483 shares of the company’s stock after selling 1,077 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Hershey were worth $13,936,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. LaFleur & Godfrey LLC raised its holdings in Hershey by 8.3% during the 4th quarter. LaFleur & Godfrey LLC now owns 46,708 shares of the company’s stock valued at $7,910,000 after buying an additional 3,578 shares during the last quarter. Sigma Planning Corp increased its position in shares of Hershey by 22.6% in the fourth quarter. Sigma Planning Corp now owns 2,234 shares of the company’s stock valued at $378,000 after acquiring an additional 412 shares during the period. Wealthspire Advisors LLC raised its stake in shares of Hershey by 9.5% during the fourth quarter. Wealthspire Advisors LLC now owns 5,949 shares of the company’s stock valued at $1,007,000 after acquiring an additional 516 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Hershey during the fourth quarter valued at about $1,692,000. Finally, IFP Advisors Inc boosted its holdings in shares of Hershey by 86.4% during the fourth quarter. IFP Advisors Inc now owns 12,992 shares of the company’s stock worth $2,200,000 after purchasing an additional 6,021 shares during the period. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Down 2.6%

Shares of NYSE:HSY opened at $167.65 on Thursday. Hershey Company has a 12-month low of $140.13 and a 12-month high of $208.03. The stock has a market capitalization of $33.97 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 6.28 and a beta of 0.29. The stock has a fifty day simple moving average of $164.64 and a two-hundred day simple moving average of $165.42. The company has a current ratio of 1.59, a quick ratio of 1.11 and a debt-to-equity ratio of 1.11.

Hershey (NYSE:HSY) last announced its quarterly earnings results on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.15. Hershey had a net margin of 15.32% and a return on equity of 38.70%. The company had revenue of $2.81 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the previous year, the business posted $3.07 EPS. Hershey’s revenue was down 13.8% compared to the same quarter last year. On average, research analysts anticipate that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 16th were issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Friday, May 16th. Hershey’s payout ratio is 67.57%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HSY. DA Davidson boosted their price target on Hershey from $162.00 to $163.00 and gave the company a “neutral” rating in a report on Monday, May 5th. Citigroup reduced their target price on Hershey from $173.00 to $165.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Mizuho decreased their target price on Hershey from $167.00 to $155.00 and set a “neutral” rating for the company in a report on Wednesday, May 28th. Sanford C. Bernstein raised their price target on Hershey from $147.00 to $155.00 and gave the stock a “market perform” rating in a research note on Friday, May 2nd. Finally, Barclays lifted their price target on shares of Hershey from $160.00 to $165.00 and gave the company an “equal weight” rating in a report on Monday, May 5th. Five research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $158.84.

Insider Activity at Hershey

In other news, CEO Michele Buck sold 31,210 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 193,624 shares of the company’s stock, valued at $31,134,739.20. This represents a 13.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Jennifer Mccalman sold 974 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $157.11, for a total value of $153,025.14. Following the sale, the chief accounting officer now directly owns 2,994 shares in the company, valued at $470,387.34. This trade represents a 24.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.

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.