Courier Capital LLC reduced its holdings in shares of The Hershey Company (NYSE:HSY – Free Report) by 12.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,174 shares of the company’s stock after selling 315 shares during the quarter. Courier Capital LLC’s holdings in Hershey were worth $553,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Arlington Partners LLC bought a new stake in shares of Hershey in the first quarter valued at $27,000. Zions Bancorporation N.A. raised its stake in shares of Hershey by 121.3% in the first quarter. Zions Bancorporation N.A. now owns 135 shares of the company’s stock valued at $29,000 after buying an additional 74 shares during the period. ICA Group Wealth Management LLC bought a new stake in shares of Hershey in the fourth quarter valued at $36,000. Kepos Capital LP bought a new stake in shares of Hershey in the fourth quarter valued at $37,000. Finally, Wellington Shields Capital Management LLC bought a new stake in shares of Hershey in the first quarter valued at $38,000. 56.47% of the stock is currently owned by institutional investors.
Hershey Price Performance
HSY opened at $209.71 on Thursday. The stock has a 50-day moving average price of $226.54 and a 200-day moving average price of $246.20. The Hershey Company has a 12-month low of $206.69 and a 12-month high of $276.88. The company has a current ratio of 1.06, a quick ratio of 0.55 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $42.88 billion, a P/E ratio of 24.13, a PEG ratio of 2.56 and a beta of 0.29.
Hershey Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 18th will be issued a $1.192 dividend. This is a boost from Hershey’s previous quarterly dividend of $1.04. This represents a $4.77 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Thursday, August 17th. Hershey’s dividend payout ratio is presently 54.78%.
Insider Transactions at Hershey
In related news, major shareholder Hershey Trust Co Trustee In Tr sold 24,078 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $260.47, for a total transaction of $6,271,596.66. Following the transaction, the insider now directly owns 2,114,347 shares in the company, valued at approximately $550,723,963.09. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $214.36, for a total transaction of $321,540.00. Following the transaction, the chief financial officer now directly owns 37,316 shares in the company, valued at approximately $7,999,057.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Hershey Trust Co Trustee In Tr sold 24,078 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The stock was sold at an average price of $260.47, for a total value of $6,271,596.66. Following the transaction, the insider now owns 2,114,347 shares in the company, valued at $550,723,963.09. The disclosure for this sale can be found here. In the last three months, insiders sold 198,470 shares of company stock worth $51,432,407. 0.34% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the company. Argus lowered their target price on Hershey from $315.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, August 11th. Mizuho decreased their price objective on Hershey from $263.00 to $233.00 in a research note on Monday, July 31st. Wells Fargo & Company decreased their price objective on Hershey from $260.00 to $240.00 and set an “equal weight” rating on the stock in a research note on Friday, July 28th. Deutsche Bank Aktiengesellschaft decreased their price objective on Hershey from $264.00 to $262.00 in a research note on Monday, July 17th. Finally, Morgan Stanley decreased their price objective on Hershey from $270.00 to $245.00 in a research note on Friday, July 28th. Twelve analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $261.50.
Check Out Our Latest Research Report on HSY
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; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.
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