The Hershey Company (NYSE:HSY) Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its position in The Hershey Company (NYSE:HSY) by 40.8% during the first quarter, Holdings Channel reports. The firm owned 30,713 shares of the company’s stock after selling 21,155 shares during the quarter. Fifth Third Bancorp’s holdings in Hershey were worth $5,253,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HSY. Capital International Investors raised its position in Hershey by 31.4% in the fourth quarter. Capital International Investors now owns 12,460,147 shares of the company’s stock valued at $2,110,126,000 after purchasing an additional 2,980,997 shares during the period. GAMMA Investing LLC raised its position in Hershey by 18,311.7% in the first quarter. GAMMA Investing LLC now owns 1,010,616 shares of the company’s stock valued at $1,728,460,000 after purchasing an additional 1,005,127 shares during the period. Raymond James Financial Inc. purchased a new stake in Hershey in the fourth quarter valued at approximately $80,978,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Hershey by 38.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,628,047 shares of the company’s stock valued at $275,710,000 after purchasing an additional 453,428 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Hershey by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company’s stock valued at $785,003,000 after purchasing an additional 247,675 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Performance

NYSE:HSY opened at $169.06 on Friday. The firm has a market capitalization of $34.25 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 5.90 and a beta of 0.29. The business’s fifty day moving average price is $163.77 and its 200 day moving average price is $165.73. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $208.03.

Hershey (NYSE:HSY) last posted its earnings results on Thursday, May 1st. The company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.94 by $0.15. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.81 billion. Hershey had a return on equity of 44.77% and a net margin of 19.83%. Hershey’s revenue for the quarter was down 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.07 earnings per share. On average, sell-side analysts anticipate that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 16th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.24%. The ex-dividend date of this dividend is Friday, May 16th. Hershey’s dividend payout ratio (DPR) is presently 67.57%.

Insider Activity at Hershey

In other Hershey news, CEO Michele Buck sold 31,210 shares of the company’s stock in a transaction on Friday, May 30th. The shares were sold at an average price of $160.80, for a total value of $5,018,568.00. Following the completion of the transaction, the chief executive officer now owns 193,624 shares in the company, valued at $31,134,739.20. This represents a 13.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Jennifer Mccalman sold 974 shares of the company’s stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $157.11, for a total transaction of $153,025.14. Following the completion of the transaction, the chief accounting officer now owns 2,994 shares of the company’s stock, valued at $470,387.34. This represents a 24.55% decrease in their position. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Morgan Stanley cut their target price on Hershey from $183.00 to $177.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Citigroup cut their target price on Hershey from $173.00 to $165.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Barclays boosted their target price on Hershey from $160.00 to $165.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. DA Davidson boosted their target price on Hershey from $162.00 to $163.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Finally, Mizuho cut their price objective on Hershey from $167.00 to $155.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 28th. Five investment analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $158.84.

About Hershey

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.