Chevy Chase Trust Holdings LLC Trims Position in The Hershey Company (NYSE:HSY)

Chevy Chase Trust Holdings LLC trimmed its position in shares of The Hershey Company (NYSE:HSY) by 1.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 88,359 shares of the company’s stock after selling 952 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Hershey were worth $17,186,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. BKM Wealth Management LLC acquired a new position in Hershey during the fourth quarter worth about $26,000. First Financial Corp IN acquired a new stake in shares of Hershey in the fourth quarter valued at approximately $29,000. Riverview Trust Co acquired a new stake in shares of Hershey in the first quarter valued at approximately $29,000. Highlander Capital Management LLC lifted its stake in shares of Hershey by 125.3% during the fourth quarter. Highlander Capital Management LLC now owns 169 shares of the company’s stock valued at $32,000 after buying an additional 94 shares during the period. Finally, Rakuten Securities Inc. purchased a new position in shares of Hershey during the fourth quarter valued at approximately $32,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Price Performance

Shares of HSY traded down $0.66 during mid-day trading on Thursday, hitting $185.02. The company’s stock had a trading volume of 68,952 shares, compared to its average volume of 1,854,081. The firm has a 50-day moving average price of $193.37 and a 200 day moving average price of $192.25. The stock has a market capitalization of $37.42 billion, a price-to-earnings ratio of 18.40, a PEG ratio of 4.14 and a beta of 0.36. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.97 and a quick ratio of 0.64. The Hershey Company has a fifty-two week low of $178.82 and a fifty-two week high of $248.93.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Friday, May 3rd. The company reported $3.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.33. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Hershey had a net margin of 18.13% and a return on equity of 50.15%. The business’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.96 EPS. On average, research analysts predict that The Hershey Company will post 9.59 EPS for the current fiscal year.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 17th were given a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 2.96%. The ex-dividend date was Thursday, May 16th. Hershey’s dividend payout ratio (DPR) is currently 54.31%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. BNP Paribas downgraded shares of Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 price objective on the stock. in a research note on Tuesday, March 26th. Wells Fargo & Company dropped their price objective on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a research report on Friday, June 21st. Citigroup decreased their price objective on shares of Hershey from $213.00 to $199.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. Argus decreased their price objective on shares of Hershey from $240.00 to $225.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Finally, Bank of America decreased their price objective on shares of Hershey from $210.00 to $200.00 and set a “neutral” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Hershey presently has a consensus rating of “Hold” and an average target price of $209.67.

Insider Transactions at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $204.54, for a total value of $306,810.00. Following the transaction, the chief financial officer now directly owns 37,228 shares of the company’s stock, valued at $7,614,615.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 4,500 shares of company stock valued at $859,950 over the last ninety days. Corporate insiders own 0.29% of the company’s stock.

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.