Stock Yards Bank & Trust Co. Reduces Stake in The Hershey Company (NYSE:HSY)

Stock Yards Bank & Trust Co. decreased its stake in shares of The Hershey Company (NYSE:HSY) by 17.2% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,922 shares of the company’s stock after selling 1,228 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Hershey were worth $1,013,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Montag & Caldwell LLC purchased a new stake in Hershey during the 4th quarter worth about $25,000. Putney Financial Group LLC purchased a new stake in Hershey during the 4th quarter worth about $25,000. Crowley Wealth Management Inc. purchased a new stake in Hershey during the 4th quarter worth about $28,000. Mpwm Advisory Solutions LLC purchased a new stake in Hershey during the 4th quarter worth about $28,000. Finally, Vision Financial Markets LLC purchased a new stake in Hershey during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michele Buck sold 31,210 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $160.80, for a total transaction of $5,018,568.00. Following the transaction, the chief executive officer now directly owns 193,624 shares in the company, valued at $31,134,739.20. This trade represents a 13.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Jennifer Mccalman sold 974 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value of $153,025.14. Following the transaction, the chief accounting officer now owns 2,994 shares in the company, valued at approximately $470,387.34. The trade was a 24.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.28% of the stock is owned by corporate insiders.

Hershey Price Performance

Shares of Hershey stock opened at $169.06 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $34.25 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 5.90 and a beta of 0.29. The business’s 50-day moving average price is $163.77 and its 200-day moving average price is $165.67. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $208.03.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.09 EPS for the quarter, beating the consensus estimate of $1.94 by $0.15. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.81 billion. Hershey had a return on equity of 44.77% and a net margin of 19.83%. The company’s revenue was down 13.8% on a year-over-year basis. During the same period in the prior year, the company earned $3.07 EPS. Sell-side analysts forecast that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 16th will be given a dividend of $1.37 per share. The ex-dividend date is Friday, May 16th. This represents a $5.48 annualized dividend and a yield of 3.24%. Hershey’s payout ratio is 67.57%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on HSY shares. Citigroup dropped their price objective on Hershey from $173.00 to $165.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Sanford C. Bernstein upped their target price on Hershey from $147.00 to $155.00 and gave the stock a “market perform” rating in a research note on Friday, May 2nd. UBS Group decreased their target price on Hershey from $175.00 to $170.00 and set a “neutral” rating on the stock in a research note on Friday, May 2nd. DA Davidson upped their target price on Hershey from $162.00 to $163.00 and gave the stock a “neutral” rating in a research note on Monday, May 5th. Finally, Royal Bank of Canada decreased their target price on Hershey from $178.00 to $175.00 and set a “sector perform” rating on the stock in a research note on Friday, May 2nd. Five research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. According to MarketBeat.com, Hershey currently has a consensus rating of “Hold” and an average price target of $158.84.

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.