First National Trust Co. lowered its stake in shares of Hershey Co. (NYSE:HSY) by 17.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,826 shares of the company’s stock after selling 2,044 shares during the period. First National Trust Co.’s holdings in Hershey were worth $1,115,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Orrstown Financial Services Inc. raised its stake in Hershey by 2.2% in the second quarter. Orrstown Financial Services Inc. now owns 940 shares of the company’s stock worth $107,000 after buying an additional 20 shares in the last quarter. Boys Arnold & Co. Inc. purchased a new stake in shares of Hershey during the second quarter worth about $212,000. Trust Co. of Virginia VA purchased a new stake in shares of Hershey during the second quarter worth about $212,000. Nadler Financial Group Inc. purchased a new stake in shares of Hershey during the second quarter worth about $222,000. Finally, Mechanics Bank Trust Department purchased a new stake in shares of Hershey during the second quarter worth about $227,000. Hedge funds and other institutional investors own 53.11% of the company’s stock.
Hershey Co. (NYSE:HSY) traded down 0.20% during mid-day trading on Monday, reaching $95.41. 910,743 shares of the company’s stock traded hands. The company has a market cap of $20.34 billion, a P/E ratio of 27.94 and a beta of 0.23. The stock has a 50 day moving average of $101.83 and a 200 day moving average of $99.04. Hershey Co. has a 12-month low of $82.42 and a 12-month high of $117.79.
Hershey (NYSE:HSY) last released its earnings results on Thursday, July 28th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.78 by $0.07. Hershey had a net margin of 10.14% and a return on equity of 100.78%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities research analysts predict that Hershey Co. will post $4.26 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, August 25th were issued a $0.618 dividend. This represents a $2.47 annualized dividend and a dividend yield of 2.59%. The ex-dividend date of this dividend was Tuesday, August 23rd. This is an increase from Hershey’s previous quarterly dividend of $0.58. Hershey’s payout ratio is 72.22%.
A number of brokerages have issued reports on HSY. Vetr raised shares of Hershey from a “hold” rating to a “strong-buy” rating and set a $112.59 price objective for the company in a research report on Wednesday, August 31st. Zacks Investment Research raised shares of Hershey from a “sell” rating to a “hold” rating in a research report on Tuesday, June 14th. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $105.00 price objective (up from $92.00) on shares of Hershey in a research report on Wednesday, July 27th. Tigress Financial downgraded shares of Hershey from a “buy” rating to a “neutral” rating in a research report on Monday, July 11th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $102.00 price objective on shares of Hershey in a research report on Wednesday, June 15th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $100.50.
In other news, SVP D Michael Wege sold 1,100 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $111.41, for a total value of $122,551.00. Following the transaction, the senior vice president now owns 27,188 shares of the company’s stock, valued at $3,029,015.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.68% of the stock is currently owned by insiders.
Hershey Company Profile
The Hershey Company is a producer of chocolate and non-chocolate confectionery. The Company’s principal confectionery offerings include gum and mint refreshment products; pantry items, such as baking ingredients, toppings and beverages, and snack items, such as spreads, meat snacks, bars, and snack bites and mixes.
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