Cambridge Trust Co. Sells 74 Shares of The Hershey Company (NYSE:HSY)

Posted by on Mar 19th, 2023

Cambridge Trust Co. trimmed its stake in The Hershey Company (NYSE:HSY – Get Rating) by 4.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,527 shares of the company’s stock after selling 74 shares during the period. Cambridge Trust Co.’s holdings in Hershey were worth $354,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HSY. Blair William & Co. IL lifted its position in Hershey by 3.1% during the 1st quarter. Blair William & Co. IL now owns 30,767 shares of the company’s stock worth $6,665,000 after acquiring an additional 916 shares during the last quarter. Dakota Wealth Management bought a new position in shares of Hershey in the first quarter worth about $238,000. Sequoia Financial Advisors LLC lifted its position in shares of Hershey by 28.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,566 shares of the company’s stock worth $339,000 after purchasing an additional 350 shares during the last quarter. Vanguard Group Inc. boosted its stake in Hershey by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 14,057,990 shares of the company’s stock valued at $3,045,383,000 after purchasing an additional 216,715 shares during the period. Finally, Candriam Luxembourg S.C.A. grew its holdings in Hershey by 10.8% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 32,183 shares of the company’s stock valued at $6,972,000 after buying an additional 3,129 shares during the last quarter. 54.17% of the stock is currently owned by institutional investors and hedge funds.

Hershey Stock Down 0.8 %

NYSE HSY opened at $243.15 on Friday. The Hershey Company has a 1-year low of $201.42 and a 1-year high of $247.20. The company has a market capitalization of $49.61 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 3.40 and a beta of 0.31. The stock’s 50 day moving average is $232.96 and its two-hundred day moving average is $230.21. The company has a current ratio of 0.80, a quick ratio of 0.44 and a debt-to-equity ratio of 1.01.

Hershey (NYSE:HSY – Get Rating) last posted its earnings results on Thursday, February 2nd. The company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.77 by $0.25. Hershey had a return on equity of 57.76% and a net margin of 15.79%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter last year, the company earned $1.69 EPS. Hershey’s revenue was up 14.0% on a year-over-year basis. Equities analysts forecast that The Hershey Company will post 9.39 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Friday, February 17th were paid a $1.036 dividend. This represents a $4.14 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Thursday, February 16th. Hershey’s dividend payout ratio (DPR) is currently 52.01%.

Insider Transactions at Hershey

In related news, Director Pamela M. Arway sold 211 shares of the firm’s stock in a transaction on Tuesday, January 10th. The stock was sold at an average price of $225.97, for a total transaction of $47,679.67. Following the completion of the sale, the director now directly owns 15,561 shares of the company’s stock, valued at approximately $3,516,319.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Hershey news, insider Charles R. Raup sold 1,512 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $236.38, for a total value of $357,406.56. Following the completion of the sale, the insider now owns 13,713 shares in the company, valued at approximately $3,241,478.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Pamela M. Arway sold 211 shares of the business’s stock in a transaction dated Tuesday, January 10th. The stock was sold at an average price of $225.97, for a total transaction of $47,679.67. Following the completion of the transaction, the director now directly owns 15,561 shares of the company’s stock, valued at $3,516,319.17. The disclosure for this sale can be found here. Insiders have sold 48,727 shares of company stock valued at $11,522,062 in the last three months. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HSY shares. The Goldman Sachs Group increased their price objective on Hershey from $255.00 to $277.00 in a research report on Thursday, February 2nd. Credit Suisse Group increased their price target on shares of Hershey from $250.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. Morgan Stanley raised their price target on shares of Hershey from $231.00 to $246.00 and gave the stock an “equal weight” rating in a research report on Friday, February 3rd. StockNews.com lowered shares of Hershey from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Hershey from $236.00 to $246.00 and gave the stock a “hold” rating in a research report on Tuesday, December 6th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $245.23.

About Hershey

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The Hershey Co engages in the manufacture and marketing of chocolate, sweets, mints and confectionery products. The firm operates through the following geographical segments: North America and International and Other. The North America is responsible for the traditional chocolate and non-chocolate confectionery market position of the company, as well as its grocery and snacks market positions, in the United States and Canada.

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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