Hershey Co (HSY) Major Shareholder Sells $74,042,524.00 in Stock

Hershey Co (NYSE:HSY) major shareholder Hershey Trust Co Trustee In Tr sold 583,012 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $127.00, for a total value of $74,042,524.00. Following the completion of the transaction, the insider now directly owns 1,714,591 shares of the company’s stock, valued at approximately $217,753,057. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Hershey Trust Co Trustee In Tr also recently made the following trade(s):

  • On Friday, May 10th, Hershey Trust Co Trustee In Tr sold 463,856 shares of Hershey stock. The shares were sold at an average price of $125.49, for a total value of $58,209,289.44.
  • On Wednesday, May 8th, Hershey Trust Co Trustee In Tr sold 556,917 shares of Hershey stock. The shares were sold at an average price of $124.22, for a total value of $69,180,229.74.
  • On Monday, May 6th, Hershey Trust Co Trustee In Tr sold 410,468 shares of Hershey stock. The shares were sold at an average price of $122.77, for a total value of $50,393,156.36.
  • On Thursday, May 2nd, Hershey Trust Co Trustee In Tr sold 360,715 shares of Hershey stock. The shares were sold at an average price of $123.09, for a total value of $44,400,409.35.

Shares of HSY traded up $0.30 during mid-day trading on Thursday, reaching $128.04. The company had a trading volume of 49,706 shares, compared to its average volume of 1,185,753. Hershey Co has a twelve month low of $89.29 and a twelve month high of $127.98. The company has a current ratio of 0.92, a quick ratio of 0.59 and a debt-to-equity ratio of 2.27. The stock has a market cap of $26.67 billion, a PE ratio of 23.90, a PEG ratio of 2.79 and a beta of 0.18.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, April 25th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.11. Hershey had a return on equity of 90.64% and a net margin of 14.44%. The business had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. During the same period in the prior year, the firm posted $1.41 EPS. Hershey’s quarterly revenue was up 2.3% compared to the same quarter last year. On average, sell-side analysts forecast that Hershey Co will post 5.7 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be issued a $0.722 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.89 dividend on an annualized basis and a dividend yield of 2.26%. Hershey’s payout ratio is presently 53.92%.

Several research firms have commented on HSY. Zacks Investment Research raised Hershey from a “hold” rating to a “buy” rating and set a $143.00 price target for the company in a report on Thursday. UBS Group set a $100.00 price target on Hershey and gave the company a “sell” rating in a report on Friday, April 26th. Credit Suisse Group set a $123.00 price target on Hershey and gave the company a “hold” rating in a report on Friday, April 26th. Barclays upped their price target on Hershey from $103.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Finally, BMO Capital Markets upped their price target on Hershey from $93.00 to $108.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $113.27.

Several institutional investors and hedge funds have recently modified their holdings of the company. Cornerstone Advisors Inc. increased its holdings in Hershey by 37.3% during the 1st quarter. Cornerstone Advisors Inc. now owns 302 shares of the company’s stock valued at $35,000 after purchasing an additional 82 shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in Hershey by 25.2% during the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 417 shares of the company’s stock valued at $48,000 after purchasing an additional 84 shares in the last quarter. Versant Capital Management Inc increased its holdings in Hershey by 18.5% during the 1st quarter. Versant Capital Management Inc now owns 609 shares of the company’s stock valued at $69,000 after purchasing an additional 95 shares in the last quarter. MML Investors Services LLC increased its holdings in Hershey by 1.1% during the 1st quarter. MML Investors Services LLC now owns 9,183 shares of the company’s stock valued at $1,055,000 after purchasing an additional 97 shares in the last quarter. Finally, Physicians Financial Services Inc. increased its holdings in Hershey by 0.9% during the 4th quarter. Physicians Financial Services Inc. now owns 10,532 shares of the company’s stock valued at $1,129,000 after purchasing an additional 99 shares in the last quarter. 53.61% of the stock is owned by institutional investors and hedge funds.

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About Hershey

The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.

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Insider Buying and Selling by Quarter for Hershey (NYSE:HSY)

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