Citizens Financial Group Inc. RI Decreases Stock Position in The Hershey Company (NYSE:HSY)

Citizens Financial Group Inc. RI cut its position in The Hershey Company (NYSE:HSY) by 66.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,231 shares of the company’s stock after selling 20,554 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Hershey were worth $1,881,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Hershey by 14.2% during the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company’s stock valued at $3,372,965,000 after acquiring an additional 2,158,912 shares during the last quarter. Norges Bank bought a new position in Hershey during the 4th quarter valued at $349,448,000. Janus Henderson Group PLC boosted its stake in Hershey by 6.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock valued at $289,327,000 after acquiring an additional 90,329 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Hershey by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock valued at $144,743,000 after acquiring an additional 25,780 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Hershey by 23.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock valued at $143,962,000 after acquiring an additional 147,215 shares during the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Stock Performance

NYSE:HSY opened at $200.81 on Tuesday. The Hershey Company has a twelve month low of $178.82 and a twelve month high of $213.72. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87. The company has a 50-day moving average of $195.43 and a 200-day moving average of $193.83. The firm has a market cap of $40.61 billion, a price-to-earnings ratio of 19.90, a price-to-earnings-growth ratio of 5.77 and a beta of 0.37.

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 business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same quarter last year, the business posted $2.01 EPS. The business’s revenue for the quarter was down 16.7% on a year-over-year basis. Analysts forecast that The Hershey Company will post 9.5 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 2.73%. The ex-dividend date was Friday, August 16th. Hershey’s payout ratio is 54.31%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Hershey in a research report on Monday, August 12th. They issued a “sell” rating and a $185.00 price target on the stock. Wells Fargo & Company reduced their price target on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Friday, June 21st. Citigroup downgraded shares of Hershey from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $195.00 to $182.00 in a research report on Tuesday, August 27th. Royal Bank of Canada reduced their price target on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating on the stock in a research report on Friday, August 2nd. Finally, Barclays reduced their price target on shares of Hershey from $210.00 to $204.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 18th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hershey presently has an average rating of “Hold” and an average price target of $203.21.

Insiders Place Their Bets

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

Hershey 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.