The Hershey Company (NYSE:HSY) Shares Bought by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC grew its position in The Hershey Company (NYSE:HSY) by 21.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 4,466 shares of the company’s stock after purchasing an additional 790 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Hershey were worth $821,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Capital Advisors Ltd. LLC grew its stake in Hershey by 218.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after buying an additional 96 shares during the last quarter. Riverview Trust Co purchased a new position in shares of Hershey in the 1st quarter valued at approximately $29,000. OFI Invest Asset Management acquired a new stake in Hershey in the 2nd quarter worth approximately $29,000. Crewe Advisors LLC purchased a new stake in Hershey during the 1st quarter worth approximately $35,000. Finally, Quarry LP acquired a new position in Hershey during the 4th quarter valued at approximately $34,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hershey

In related news, CAO Jennifer Mccalman sold 538 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $199.17, for a total value of $107,153.46. Following the transaction, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of Hershey 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 sale, the chief financial officer now owns 34,228 shares of the company’s stock, valued at approximately $6,531,729.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Jennifer Mccalman sold 538 shares of the stock in a transaction dated Monday, August 12th. The shares were 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 owns 3,238 shares of the company’s stock, valued at $644,912.46. The disclosure for this sale can be found here. Insiders sold 3,538 shares of company stock valued at $667,793 over the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on HSY shares. JPMorgan Chase & Co. lifted their price objective on shares of Hershey from $183.00 to $188.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Piper Sandler reissued a “neutral” rating and issued a $179.00 price objective on shares of Hershey in a report on Friday, June 21st. Citigroup cut Hershey from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $195.00 to $182.00 in a research note on Tuesday, August 27th. Sanford C. Bernstein cut their price target on shares of Hershey from $237.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, July 17th. Finally, Barclays decreased their price objective on shares of Hershey from $210.00 to $204.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 18th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $203.21.

Hershey Price Performance

Shares of Hershey stock opened at $202.83 on Wednesday. The firm has a market cap of $41.03 billion, a PE ratio of 20.10, a P/E/G ratio of 5.80 and a beta of 0.37. The Hershey Company has a twelve month low of $178.82 and a twelve month high of $213.85. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The business has a 50-day moving average price of $194.18 and a 200 day moving average price of $193.49.

Hershey (NYSE:HSY) last announced its earnings results 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 return on equity of 45.36% and a net margin of 16.76%. The business 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 company earned $2.01 earnings per share. The company’s quarterly revenue was down 16.7% compared to the same quarter last year. Sell-side analysts predict that The Hershey Company will post 9.5 earnings per share for the current fiscal year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 16th will be given a $1.37 dividend. The ex-dividend date is Friday, August 16th. This represents a $5.48 annualized dividend and a dividend yield of 2.70%. Hershey’s dividend payout ratio (DPR) is 54.31%.

About Hershey

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.