The Hershey Company (NYSE:HSY) Shares Sold by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp reduced its stake in shares of The Hershey Company (NYSE:HSY) by 6.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,205 shares of the company’s stock after selling 352 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Hershey were worth $881,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of HSY. Ashton Thomas Securities LLC purchased a new position in Hershey during the third quarter valued at approximately $25,000. Grove Bank & Trust raised its position in Hershey by 248.0% during the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock valued at $29,000 after acquiring an additional 124 shares in the last quarter. Vision Financial Markets LLC purchased a new position in Hershey during the fourth quarter valued at approximately $29,000. ST Germain D J Co. Inc. raised its position in Hershey by 61.7% during the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock valued at $44,000 after acquiring an additional 100 shares in the last quarter. Finally, Peterson Financial Group Inc. purchased a new position in Hershey during the third quarter valued at approximately $46,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Bank of America reiterated a “neutral” rating and set a $180.00 price target on shares of Hershey in a research report on Thursday, December 12th. Citigroup upgraded Hershey from a “sell” rating to a “neutral” rating and cut their price objective for the company from $159.00 to $154.00 in a research report on Friday, February 7th. Mizuho cut their price objective on Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. TD Cowen cut their price objective on Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Bernstein Bank cut their price objective on Hershey from $177.00 to $146.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Five analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $164.15.

Hershey Stock Up 2.8 %

Shares of NYSE:HSY opened at $185.11 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. The business has a fifty day moving average of $161.48 and a two-hundred day moving average of $176.54. The stock has a market cap of $37.47 billion, a P/E ratio of 16.98, a PEG ratio of 5.90 and a beta of 0.32. The Hershey Company has a 52-week low of $140.13 and a 52-week high of $211.92.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. On average, research analysts expect that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 17th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 2.96%. The ex-dividend date is Friday, February 14th. Hershey’s payout ratio is currently 50.28%.

Insider Buying and Selling at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction of $41,144.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,682 shares in the company, valued at approximately $396,936. This represents a 9.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is owned by company insiders.

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.