Cypress Capital Group Sells 1,545 Shares of The Hershey Company (NYSE:HSY)

Cypress Capital Group reduced its stake in shares of The Hershey Company (NYSE:HSY) by 41.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,220 shares of the company’s stock after selling 1,545 shares during the period. Cypress Capital Group’s holdings in Hershey were worth $408,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of HSY. Capital Advisors Ltd. LLC lifted its stake in Hershey by 218.2% in the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Riverview Trust Co purchased a new position in shares of Hershey during the 1st quarter valued at $29,000. OFI Invest Asset Management bought a new position in shares of Hershey during the 2nd quarter worth $29,000. Quarry LP purchased a new stake in Hershey in the 4th quarter worth about $34,000. Finally, Crewe Advisors LLC purchased a new stake in Hershey in the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

HSY traded up $1.79 on Monday, reaching $198.12. The company had a trading volume of 151,654 shares, compared to its average volume of 1,803,461. The Hershey Company has a 52-week low of $178.82 and a 52-week high of $219.92. The company has a market cap of $40.07 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 4.96 and a beta of 0.36. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.64 and a current ratio of 0.86. The business has a 50 day simple moving average of $191.11 and a 200 day simple moving average of $193.27.

Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, missing the consensus estimate of $1.44 by ($0.17). Hershey had a net margin of 16.76% and a return on equity of 45.36%. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.30 billion. During the same quarter last year, the business posted $2.01 EPS. The business’s quarterly revenue was down 16.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Hershey Company will post 9.59 EPS for the current year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th 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 of this dividend is Friday, August 16th. Hershey’s dividend payout ratio (DPR) is currently 54.31%.

Insider Transactions at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total value of $286,245.00. Following the completion of the sale, the chief financial officer now owns 34,228 shares in the company, valued at approximately $6,531,729.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction 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 owns 34,228 shares of the company’s stock, valued at approximately $6,531,729.24. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $199.17, for a total transaction of $107,153.46. Following the completion of the sale, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at $644,912.46. The disclosure for this sale can be found here. In the last three months, insiders sold 3,538 shares of company stock worth $667,793. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have commented on HSY. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Hershey from $192.00 to $191.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. Royal Bank of Canada cut their price objective on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Wells Fargo & Company lowered their target price on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating on the stock in a report on Friday, June 21st. Piper Sandler reaffirmed a “neutral” rating and issued a $179.00 price target on shares of Hershey in a report on Friday, June 21st. Finally, Bank of America reduced their price target on Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $203.47.

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.