Toronto Dominion Bank Sells 12,572 Shares of The Hershey Company (NYSE:HSY)

Toronto Dominion Bank decreased its position in shares of The Hershey Company (NYSE:HSY) by 14.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,498 shares of the company’s stock after selling 12,572 shares during the period. Toronto Dominion Bank’s holdings in Hershey were worth $14,246,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in HSY. Capital Advisors Ltd. LLC raised its position in shares of Hershey by 218.2% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares during the period. Riverview Trust Co bought a new stake in Hershey during the 1st quarter valued at approximately $29,000. GHP Investment Advisors Inc. boosted its stake in Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares during the period. OFI Invest Asset Management purchased a new stake in Hershey during the 2nd quarter valued at approximately $29,000. Finally, Crewe Advisors LLC bought a new stake in shares of Hershey during the first quarter valued at approximately $35,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Wall Street Analysts Forecast Growth

HSY has been the subject of several research analyst reports. Royal Bank of Canada cut their target price on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd. Argus lowered Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. The Goldman Sachs Group began coverage on Hershey in a report on Monday, August 12th. They set a “sell” rating and a $185.00 price target for the company. JPMorgan Chase & Co. upped their price objective on Hershey from $183.00 to $188.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Finally, 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. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $198.63.

Hershey Price Performance

Hershey stock opened at $193.32 on Friday. The stock has a market cap of $39.09 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 5.67 and a beta of 0.37. The firm has a 50-day moving average of $196.37 and a two-hundred day moving average of $194.04. The Hershey Company has a 1 year low of $178.82 and a 1 year high of $211.92. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). Hershey had a net margin of 16.76% and a return on equity of 45.36%. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.30 billion. During the same period last year, the firm earned $2.01 earnings per share. The company’s revenue for the quarter was down 16.7% on a year-over-year basis. On average, research analysts forecast that The Hershey Company will post 9.49 earnings per share for the current year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were given a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Friday, August 16th. Hershey’s payout ratio is 54.31%.

Insider Buying and Selling

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total transaction of $286,245.00. Following the completion of the sale, the chief financial officer now owns 34,228 shares of the company’s stock, valued at approximately $6,531,729.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total value of $286,245.00. Following the completion of the transaction, the chief financial officer now directly owns 34,228 shares in the company, valued at approximately $6,531,729.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jennifer Mccalman sold 538 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $199.17, for a total value of $107,153.46. Following the transaction, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at $644,912.46. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

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.