New York State Teachers Retirement System Sells 3,923 Shares of The Hershey Company (NYSE:HSY)

New York State Teachers Retirement System lessened its stake in shares of The Hershey Company (NYSE:HSY) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,060 shares of the company’s stock after selling 3,923 shares during the quarter. New York State Teachers Retirement System owned about 0.07% of Hershey worth $24,460,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in HSY. Riverview Trust Co bought a new position in Hershey in the first quarter worth approximately $29,000. OFI Invest Asset Management acquired a new position in shares of Hershey during the second quarter worth approximately $29,000. Crewe Advisors LLC bought a new position in shares of Hershey in the 1st quarter worth $35,000. Quarry LP acquired a new stake in Hershey in the 4th quarter valued at $34,000. Finally, Park Place Capital Corp bought a new stake in Hershey during the 1st quarter valued at $36,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Stock Up 0.4 %

HSY opened at $196.33 on Friday. The Hershey Company has a twelve month low of $178.82 and a twelve month high of $219.92. The company’s 50-day moving average price is $191.11 and its two-hundred day moving average price is $193.29. The stock has a market cap of $39.70 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 4.96 and a beta of 0.36. The company has a quick ratio of 0.64, a current ratio of 0.86 and a debt-to-equity ratio of 0.87.

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

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 16th will be paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Friday, August 16th. Hershey’s dividend payout ratio is currently 54.31%.

Insiders Place Their Bets

In related news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $182.93, for a total transaction of $274,395.00. Following the sale, the chief financial officer now directly owns 35,728 shares in the company, valued at approximately $6,535,723.04. The sale 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 business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $182.93, for a total transaction of $274,395.00. Following the sale, the chief financial officer now directly owns 35,728 shares in the company, valued at approximately $6,535,723.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Jennifer Mccalman sold 538 shares of the company’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 sale, the chief accounting officer now owns 3,238 shares in the company, valued at $644,912.46. The disclosure for this sale can be found here. Insiders sold 3,538 shares of company stock worth $667,793 over the last quarter. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HSY. Wells Fargo & Company reduced their price objective on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a report on Friday, June 21st. Argus downgraded Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. The Goldman Sachs Group initiated coverage on Hershey in a research note on Monday, August 12th. They issued a “sell” rating and a $185.00 price objective for the company. Citigroup lifted their target price on Hershey from $188.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Piper Sandler reiterated a “neutral” rating and set a $179.00 price target on shares of Hershey in a report on Friday, June 21st. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $203.47.

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.