Amalgamated Bank Reduces Stake in The Hershey Company (NYSE:HSY)

Amalgamated Bank trimmed its position in shares of The Hershey Company (NYSE:HSY) by 9.0% during the fourth quarter, Holdings Channel reports. The firm owned 36,881 shares of the company’s stock after selling 3,667 shares during the quarter. Amalgamated Bank’s holdings in Hershey were worth $6,876,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HSY. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Hershey by 2.3% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 67,879 shares of the company’s stock worth $13,581,000 after buying an additional 1,507 shares in the last quarter. Stratos Wealth Advisors LLC raised its holdings in Hershey by 21.8% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 1,504 shares of the company’s stock valued at $301,000 after acquiring an additional 269 shares during the last quarter. WESPAC Advisors LLC lifted its stake in shares of Hershey by 1.0% during the 3rd quarter. WESPAC Advisors LLC now owns 6,279 shares of the company’s stock worth $1,256,000 after purchasing an additional 65 shares during the period. FORVIS Wealth Advisors LLC boosted its holdings in shares of Hershey by 2.3% during the third quarter. FORVIS Wealth Advisors LLC now owns 4,957 shares of the company’s stock worth $992,000 after purchasing an additional 113 shares during the last quarter. Finally, IFM Investors Pty Ltd grew its position in shares of Hershey by 5.2% in the third quarter. IFM Investors Pty Ltd now owns 29,926 shares of the company’s stock valued at $5,988,000 after purchasing an additional 1,477 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Price Performance

HSY opened at $197.92 on Monday. The company has a market capitalization of $40.37 billion, a P/E ratio of 19.62, a PEG ratio of 3.04 and a beta of 0.33. The company has a 50-day moving average of $191.93 and a 200-day moving average of $190.76. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.64 and a current ratio of 0.97. The Hershey Company has a 1-year low of $178.82 and a 1-year high of $275.89.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Friday, May 3rd. The company reported $3.07 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.33. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same period in the previous year, the company earned $2.96 earnings per share. Hershey’s quarterly revenue was up 8.9% on a year-over-year basis. Equities analysts expect that The Hershey Company will post 9.6 EPS for the current fiscal year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 17th will be paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 2.77%. The ex-dividend date is Thursday, May 16th. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on HSY shares. Edward Jones reissued a “hold” rating on shares of Hershey in a research note on Friday, April 19th. Wells Fargo & Company lowered their target price on shares of Hershey from $205.00 to $200.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. BNP Paribas downgraded shares of Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 price target on the stock. in a research note on Tuesday, March 26th. Citigroup lowered their price objective on shares of Hershey from $213.00 to $199.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. Finally, Barclays increased their target price on Hershey from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $212.78.

Insiders Place Their Bets

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $185.83, for a total transaction of $278,745.00. Following the sale, the chief financial officer now directly owns 38,728 shares of the company’s stock, valued at $7,196,824.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is currently owned by corporate insiders.

Hershey 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.