Hershey Company (The) (HSY) Position Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in Hershey Company (The) (NYSE:HSY) by 0.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,114,831 shares of the company’s stock after selling 5,782 shares during the period. Bank of New York Mellon Corp owned 0.53% of Hershey Company (The) worth $121,707,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Obermeyer Wood Investment Counsel Lllp boosted its position in shares of Hershey Company (The) by 0.3% during the 2nd quarter. Obermeyer Wood Investment Counsel Lllp now owns 6,344 shares of the company’s stock valued at $681,000 after purchasing an additional 19 shares in the last quarter. Geneva Advisors LLC boosted its position in shares of Hershey Company (The) by 0.4% during the 2nd quarter. Geneva Advisors LLC now owns 4,744 shares of the company’s stock valued at $509,000 after purchasing an additional 19 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Hershey Company (The) by 0.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,545 shares of the company’s stock valued at $918,000 after purchasing an additional 39 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Hershey Company (The) by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,401 shares of the company’s stock valued at $1,117,000 after purchasing an additional 42 shares in the last quarter. Finally, Advisor Partners LLC boosted its position in shares of Hershey Company (The) by 2.2% during the 2nd quarter. Advisor Partners LLC now owns 3,026 shares of the company’s stock valued at $325,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 49.16% of the company’s stock.

Shares of Hershey Company (NYSE:HSY) opened at $108.12 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.95 and a debt-to-equity ratio of 2.45. The stock has a market cap of $22,859.59, a P/E ratio of 22.15, a PEG ratio of 2.95 and a beta of 0.36. Hershey Company has a 52-week low of $95.68 and a 52-week high of $116.49.

Hershey Company (The) (NYSE:HSY) last posted its quarterly earnings results on Thursday, October 26th. The company reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.01 billion. Hershey Company (The) had a net margin of 9.52% and a return on equity of 124.06%. The firm’s revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 earnings per share. research analysts anticipate that Hershey Company will post 4.8 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 22nd will be given a $0.656 dividend. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Tuesday, November 21st. Hershey Company (The)’s dividend payout ratio (DPR) is 77.98%.

Hershey Company (The) announced that its Board of Directors has initiated a stock repurchase program on Thursday, October 26th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

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In related news, insider Michele Buck sold 400 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $108.00, for a total transaction of $43,200.00. Following the transaction, the insider now owns 165,697 shares of the company’s stock, valued at $17,895,276. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Javier H. Idrovo sold 15,132 shares of the firm’s stock in a transaction that occurred on Wednesday, October 11th. The shares were sold at an average price of $110.04, for a total transaction of $1,665,125.28. The disclosure for this sale can be found here. Insiders sold 34,049 shares of company stock valued at $3,715,013 over the last three months. 0.92% of the stock is owned by insiders.

HSY has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Hershey Company (The) from a “buy” rating to a “hold” rating in a report on Monday, October 30th. BMO Capital Markets reiterated a “hold” rating and issued a $105.00 target price on shares of Hershey Company (The) in a report on Friday, October 27th. UBS Group AG decreased their target price on shares of Hershey Company (The) from $110.00 to $106.00 and set a “neutral” rating for the company in a report on Friday, October 27th. Citigroup Inc. raised their target price on shares of Hershey Company (The) from $126.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Finally, Susquehanna Bancshares Inc set a $113.00 target price on shares of Hershey Company (The) and gave the stock a “hold” rating in a report on Thursday, October 26th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $113.35.

Hershey Company (The) Profile

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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