Teachers Retirement System of The State of Kentucky Lowers Stock Position in The Hershey Company (NYSE:HSY)

Teachers Retirement System of The State of Kentucky lessened its stake in The Hershey Company (NYSE:HSY) by 4.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,183 shares of the company’s stock after selling 631 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Hershey were worth $2,370,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Raleigh Capital Management Inc. raised its position in Hershey by 20.6% during the fourth quarter. Raleigh Capital Management Inc. now owns 316 shares of the company’s stock valued at $59,000 after purchasing an additional 54 shares in the last quarter. Sound View Wealth Advisors Group LLC lifted its position in Hershey by 1.5% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 3,661 shares of the company’s stock worth $683,000 after buying an additional 55 shares during the last quarter. Great Valley Advisor Group Inc. lifted its position in Hershey by 1.0% in the 4th quarter. Great Valley Advisor Group Inc. now owns 5,839 shares of the company’s stock worth $1,089,000 after buying an additional 57 shares during the last quarter. Mount Lucas Management LP grew its position in Hershey by 0.6% during the fourth quarter. Mount Lucas Management LP now owns 9,619 shares of the company’s stock valued at $1,793,000 after acquiring an additional 57 shares during the last quarter. Finally, Sound Income Strategies LLC raised its stake in shares of Hershey by 13.3% during the first quarter. Sound Income Strategies LLC now owns 486 shares of the company’s stock worth $95,000 after acquiring an additional 57 shares in the last quarter. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Down 0.3 %

Shares of HSY traded down $0.54 during mid-day trading on Friday, reaching $199.08. The company had a trading volume of 2,235,769 shares, compared to its average volume of 1,718,185. The Hershey Company has a 52 week low of $178.82 and a 52 week high of $233.21. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.64 and a current ratio of 0.86. The company has a market capitalization of $40.26 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 4.96 and a beta of 0.36. The firm has a 50-day moving average price of $189.85 and a 200 day moving average price of $192.73.

Hershey (NYSE:HSY) last released its earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.17). Hershey had a return on equity of 45.36% and a net margin of 16.76%. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.30 billion. During the same period last year, the firm posted $2.01 earnings per share. The company’s revenue was down 16.7% compared to the same quarter last year. On average, sell-side analysts forecast that The Hershey Company will post 9.59 EPS for the current year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be paid a dividend of $1.37 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $5.48 dividend on an annualized basis and a yield of 2.75%. Hershey’s dividend payout ratio is currently 54.31%.

Analyst Ratings Changes

HSY has been the subject of several analyst reports. Citigroup upped their price target on shares of Hershey from $188.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday. Barclays reduced their price target on Hershey from $210.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 18th. Wells Fargo & Company lowered their price objective on Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Friday, June 21st. Argus cut 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. Finally, Bank of America lowered their price target on shares of Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $204.50.

Insiders Place Their Bets

In related news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $182.93, for a total value of $274,395.00. Following the transaction, the chief financial officer now directly owns 35,728 shares of the company’s stock, valued at approximately $6,535,723.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders sold 4,500 shares of company stock valued at $867,450. Insiders own 0.34% of the company’s stock.

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.