ING Groep NV Sells 29,542 Shares of Hershey Company (The) $HSY

ING Groep NV reduced its stake in Hershey Company (The) (NYSE:HSY) by 75.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,494 shares of the company’s stock after selling 29,542 shares during the quarter. ING Groep NV’s holdings in Hershey were worth $1,728,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. JPL Wealth Management LLC bought a new position in Hershey in the 3rd quarter valued at approximately $26,000. Laurel Wealth Advisors LLC bought a new position in Hershey in the 4th quarter valued at approximately $27,000. Measured Wealth Private Client Group LLC bought a new position in Hershey in the 3rd quarter valued at approximately $35,000. Atlantic Edge Private Wealth Management LLC bought a new position in Hershey in the 4th quarter valued at approximately $42,000. Finally, Close Asset Management Ltd lifted its position in Hershey by 339.3% in the 3rd quarter. Close Asset Management Ltd now owns 246 shares of the company’s stock valued at $46,000 after acquiring an additional 190 shares in the last quarter. 57.96% of the stock is owned by institutional investors.

Hershey Price Performance

Shares of HSY opened at $175.72 on Wednesday. The firm has a market cap of $35.64 billion, a PE ratio of 32.72, a P/E/G ratio of 1.06 and a beta of 0.09. The company has a current ratio of 1.24, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99. The firm has a fifty day simple moving average of $193.07 and a two-hundred day simple moving average of $198.79. Hershey Company has a 1-year low of $160.07 and a 1-year high of $239.48.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.31. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.03 billion. Hershey had a net margin of 9.12% and a return on equity of 28.98%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.09 EPS. On average, equities analysts anticipate that Hershey Company will post 8.45 EPS for the current year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be paid a $1.452 dividend. This represents a $5.81 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, May 15th. Hershey’s dividend payout ratio is 108.19%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HSY. TD Cowen raised Hershey from a “hold” rating to a “buy” rating and set a $210.00 price objective on the stock in a research report on Friday, May 1st. Stifel Nicolaus lowered their price objective on Hershey from $230.00 to $215.00 and set a “hold” rating on the stock in a research report on Tuesday, April 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hershey in a research report on Tuesday, April 21st. Wells Fargo & Company lowered their price objective on Hershey from $220.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Friday, May 1st. Finally, Morgan Stanley lowered their price objective on Hershey from $247.00 to $227.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Seven analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $218.06.

Insider Activity at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $194.10, for a total value of $291,150.00. Following the completion of the sale, the chief financial officer directly owned 57,695 shares in the company, valued at $11,198,599.50. This represents a 2.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by company insiders.

About Hershey

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.