Public Employees Retirement Association of Colorado Lowers Stock Holdings in The Hershey Company (NYSE:HSY)

Public Employees Retirement Association of Colorado reduced its position in The Hershey Company (NYSE:HSY) by 2.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 21,129 shares of the company’s stock after selling 476 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Hershey were worth $4,110,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Riverview Trust Co acquired a new position in shares of Hershey in the 1st quarter valued at $29,000. Highlander Capital Management LLC boosted its holdings in shares of Hershey by 125.3% in the 4th quarter. Highlander Capital Management LLC now owns 169 shares of the company’s stock valued at $32,000 after purchasing an additional 94 shares during the last quarter. Rakuten Securities Inc. acquired a new position in shares of Hershey in the 4th quarter valued at $32,000. Quarry LP acquired a new position in shares of Hershey during the 4th quarter valued at $34,000. Finally, Crewe Advisors LLC acquired a new position in shares of Hershey during the 1st quarter valued at $35,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on HSY. Barclays reduced their target price on shares of Hershey from $210.00 to $204.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 18th. Argus reduced their target price on shares of Hershey from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Bank of America reduced their target price on shares of Hershey from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Citigroup reduced their target price on shares of Hershey from $204.00 to $188.00 and set a “neutral” rating on the stock in a report on Wednesday, July 17th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Hershey from $197.00 to $192.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $204.89.

Insider Buying and Selling at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $204.54, for a total value of $306,810.00. Following the completion of the sale, the chief financial officer now directly owns 37,228 shares of the company’s stock, valued at approximately $7,614,615.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 4,500 shares of company stock valued at $867,450 in the last ninety days. Company insiders own 0.34% of the company’s stock.

Hershey Stock Performance

Shares of NYSE:HSY traded up $0.42 during trading on Monday, reaching $193.95. 1,332,385 shares of the company’s stock traded hands, compared to its average volume of 1,846,830. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.97 and a quick ratio of 0.64. The Hershey Company has a 12 month low of $178.82 and a 12 month high of $235.80. The company has a 50 day moving average of $190.58 and a 200-day moving average of $192.54. The stock has a market capitalization of $39.22 billion, a P/E ratio of 19.11, a price-to-earnings-growth ratio of 4.81 and a beta of 0.36.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Friday, May 3rd. The company reported $3.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.74 by $0.33. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.11 billion. Hershey had a net margin of 18.13% and a return on equity of 50.15%. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.96 EPS. On average, equities analysts expect that The Hershey Company will post 9.58 EPS for the current year.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 17th were paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Thursday, May 16th. Hershey’s payout ratio is 54.31%.

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.