Cypress Capital Group Sells 3,886 Shares of Hershey Company (The) (HSY)

Cypress Capital Group decreased its holdings in Hershey Company (The) (NYSE:HSY) by 8.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,865 shares of the company’s stock after selling 3,886 shares during the quarter. Hershey Company (The) accounts for approximately 0.9% of Cypress Capital Group’s investment portfolio, making the stock its 29th biggest holding. Cypress Capital Group’s holdings in Hershey Company (The) were worth $4,281,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. OMERS ADMINISTRATION Corp lifted its position in shares of Hershey Company (The) by 118.8% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 22,100 shares of the company’s stock worth $2,414,000 after buying an additional 12,000 shares in the last quarter. Transamerica Financial Advisors Inc. lifted its position in shares of Hershey Company (The) by 0.4% during the 1st quarter. Transamerica Financial Advisors Inc. now owns 13,056 shares of the company’s stock worth $1,427,000 after buying an additional 48 shares in the last quarter. KBC Group NV lifted its position in shares of Hershey Company (The) by 2.2% during the 1st quarter. KBC Group NV now owns 108,946 shares of the company’s stock worth $11,902,000 after buying an additional 2,388 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Hershey Company (The) by 6.3% during the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 322,060 shares of the company’s stock worth $35,185,000 after buying an additional 18,981 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in shares of Hershey Company (The) by 57.5% during the 1st quarter. Stifel Financial Corp now owns 267,606 shares of the company’s stock worth $29,254,000 after buying an additional 97,743 shares in the last quarter. 51.39% of the stock is currently owned by institutional investors and hedge funds.

In other Hershey Company (The) news, major shareholder Hershey Trust Co Trustee In Tr sold 4,500,000 shares of the stock in a transaction that occurred on Thursday, August 24th. The shares were sold at an average price of $106.01, for a total value of $477,045,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michele Buck sold 400 shares of the stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $108.00, for a total transaction of $43,200.00. Following the completion of the transaction, the insider now owns 165,297 shares in the company, valued at $17,852,076. The disclosure for this sale can be found here. Insiders sold 4,504,500 shares of company stock worth $477,527,458 over the last quarter. Insiders own 0.92% of the company’s stock.

Several research firms have commented on HSY. Credit Suisse Group reissued a “buy” rating and set a $121.00 target price on shares of Hershey Company (The) in a research report on Friday, July 28th. Susquehanna Bancshares Inc set a $115.00 target price on shares of Hershey Company (The) and gave the stock a “hold” rating in a research report on Saturday, June 17th. Sanford C. Bernstein raised shares of Hershey Company (The) from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $109.00 to $127.00 in a research report on Thursday, August 17th. BidaskClub cut shares of Hershey Company (The) from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $114.00 target price on shares of Hershey Company (The) in a research report on Friday, July 21st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $111.55.

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Hershey Company (NYSE:HSY) traded up 1.10% during midday trading on Wednesday, hitting $110.23. 280,222 shares of the company were exchanged. The stock has a 50 day moving average of $107.56 and a 200-day moving average of $108.45. Hershey Company has a 1-year low of $94.03 and a 1-year high of $116.49. The stock has a market capitalization of $16.74 billion, a price-to-earnings ratio of 35.22 and a beta of 0.39.

Hershey Company (The) (NYSE:HSY) last issued its quarterly earnings data on Wednesday, July 26th. The company reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.19. Hershey Company (The) had a net margin of 8.95% and a return on equity of 119.66%. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the firm earned $0.85 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities analysts expect that Hershey Company will post $4.82 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 22nd will be given a $0.656 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $2.62 annualized dividend and a yield of 2.41%. Hershey Company (The)’s payout ratio is presently 83.44%.

About Hershey Company (The)

The Hershey Company is a producer of chocolate in North America. The Company’s principal product offerings include chocolate and non-chocolate confectionery products; gum and mint refreshment products; pantry items, such as baking ingredients and beverages, and snack items, such as spreads, meat snacks, bars and snack bites and mixes.

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Institutional Ownership by Quarter for Hershey Company (The) (NYSE:HSY)

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