Central Bank & Trust Co. Reduces Holdings in The Hershey Company (NYSE:HSY)

Central Bank & Trust Co. lessened its position in shares of The Hershey Company (NYSE:HSYFree Report) by 9.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,107 shares of the company’s stock after selling 2,476 shares during the quarter. Central Bank & Trust Co.’s holdings in Hershey were worth $4,883,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. BKM Wealth Management LLC acquired a new position in shares of Hershey in the 4th quarter valued at $26,000. First Financial Corp IN purchased a new position in Hershey during the fourth quarter worth about $29,000. Highlander Capital Management LLC increased its position in shares of Hershey by 125.3% during the fourth quarter. Highlander Capital Management LLC now owns 169 shares of the company’s stock valued at $32,000 after acquiring an additional 94 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in shares of Hershey in the 4th quarter valued at approximately $32,000. Finally, Quarry LP acquired a new position in shares of Hershey in the 4th quarter worth approximately $34,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Stock Up 0.0 %

HSY traded up $0.09 on Friday, reaching $182.09. The company’s stock had a trading volume of 2,280,832 shares, compared to its average volume of 1,382,952. The company has a market capitalization of $36.82 billion, a price-to-earnings ratio of 18.05, a P/E/G ratio of 4.07 and a beta of 0.37. The Hershey Company has a fifty-two week low of $178.82 and a fifty-two week high of $261.58. The company has a quick ratio of 0.64, a current ratio of 0.97 and a debt-to-equity ratio of 0.92. The stock has a 50 day moving average of $194.13 and a two-hundred day moving average of $192.28.

Hershey (NYSE:HSYGet Free Report) last issued its earnings results on Friday, May 3rd. The company reported $3.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.74 by $0.33. Hershey had a net margin of 18.13% and a return on equity of 50.15%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter in the prior year, the business posted $2.96 EPS. The company’s revenue for the quarter was up 8.9% on a year-over-year basis. As a group, analysts forecast that The Hershey Company will post 9.6 EPS for the current fiscal year.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 17th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend was Thursday, May 16th. Hershey’s payout ratio is currently 54.31%.

Insider Activity at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction on Monday, March 25th. The shares were sold at an average price of $197.90, for a total value of $296,850.00. Following the transaction, the chief financial officer now directly owns 40,228 shares of the company’s stock, valued at approximately $7,961,121.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 4,500 shares of company stock valued at $882,405 in the last three months. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

HSY has been the subject of several research reports. Edward Jones reiterated a “hold” rating on shares of Hershey in a report on Friday, April 19th. Citigroup cut their price objective on Hershey from $213.00 to $199.00 and set a “neutral” rating on the stock in a report on Thursday, April 11th. Piper Sandler restated a “neutral” rating and set a $179.00 target price on shares of Hershey in a report on Friday. Wells Fargo & Company cut their price target on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Friday. Finally, Barclays lowered their price objective on shares of Hershey from $210.00 to $204.00 and set an “equal weight” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $209.67.

Check Out Our Latest Report on Hershey

About Hershey

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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