The Hershey Company (NYSE:HSY) Shares Sold by Cypress Asset Management Inc. TX

Cypress Asset Management Inc. TX lessened its stake in The Hershey Company (NYSE:HSY) by 16.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,175 shares of the company’s stock after selling 225 shares during the quarter. Cypress Asset Management Inc. TX’s holdings in Hershey were worth $229,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new stake in shares of Hershey in the first quarter worth approximately $29,000. Highlander Capital Management LLC raised its holdings in Hershey by 125.3% in the 4th 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 position in Hershey in the 4th quarter worth approximately $32,000. Quarry LP purchased a new position in Hershey in the 4th quarter worth approximately $34,000. Finally, Crewe Advisors LLC acquired a new position in shares of Hershey during the 1st quarter worth approximately $35,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently commented on HSY. Bank of America reduced their price target on Hershey from $210.00 to $200.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Hershey from $192.00 to $191.00 and set a “hold” rating for the company in a report on Friday. Royal Bank of Canada lowered their price objective on Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a research report on Friday. Edward Jones reiterated a “hold” rating on shares of Hershey in a report on Friday, April 19th. Finally, Argus reduced their price objective on shares of Hershey from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $204.50.

Hershey Stock Down 0.3 %

Shares of NYSE HSY traded down $0.54 during midday trading on Friday, hitting $199.08. 2,235,769 shares of the company’s stock were exchanged, compared to its average volume of 1,718,185. The firm’s fifty day simple moving average is $189.85 and its 200-day simple moving average is $192.72. The company has a market cap of $40.26 billion, a PE ratio of 19.72, a P/E/G ratio of 4.96 and a beta of 0.36. The Hershey Company has a twelve month low of $178.82 and a twelve month high of $233.21. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.64.

Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). Hershey had a return on equity of 45.36% and a net margin of 16.76%. The company had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.30 billion. During the same period in the previous year, the business posted $2.01 EPS. The firm’s revenue for the quarter was down 16.7% compared to the same quarter last year. Research analysts predict that The Hershey Company will post 9.59 EPS for the current fiscal year.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 2.75%. The ex-dividend date is Friday, August 16th. Hershey’s payout ratio is currently 54.31%.

Insiders Place Their Bets

In other news, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total transaction of $286,245.00. Following the transaction, the chief financial officer now directly owns 34,228 shares in the company, valued at $6,531,729.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 4,500 shares of company stock valued at $867,450 over the last quarter. Company insiders own 0.34% of the company’s stock.

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; 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.