OLD National Bancorp IN Sells 191 Shares of The Hershey Company (NYSE:HSY)

OLD National Bancorp IN lowered its position in shares of The Hershey Company (NYSE:HSY) by 5.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,053 shares of the company’s stock after selling 191 shares during the quarter. OLD National Bancorp IN’s holdings in Hershey were worth $586,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of HSY. B. Riley Wealth Advisors Inc. lifted its position in shares of Hershey by 13.5% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 2,257 shares of the company’s stock worth $421,000 after buying an additional 269 shares in the last quarter. Park Avenue Securities LLC lifted its position in shares of Hershey by 18.8% during the 1st quarter. Park Avenue Securities LLC now owns 5,167 shares of the company’s stock worth $1,005,000 after buying an additional 816 shares in the last quarter. Gateway Investment Advisers LLC lifted its position in shares of Hershey by 19.1% during the 1st quarter. Gateway Investment Advisers LLC now owns 2,663 shares of the company’s stock worth $518,000 after buying an additional 428 shares in the last quarter. Riverview Trust Co bought a new position in shares of Hershey during the 1st quarter worth approximately $29,000. Finally, Thompson Investment Management Inc. lifted its position in shares of Hershey by 57.1% during the 1st quarter. Thompson Investment Management Inc. now owns 275 shares of the company’s stock worth $53,000 after buying an additional 100 shares in the last quarter. Institutional investors own 57.96% of the company’s stock.

Insider Transactions at Hershey

In other news, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction on Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the completion of the sale, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.34% of the stock is currently owned by insiders.

Hershey Stock Down 0.6 %

HSY opened at $183.47 on Wednesday. The company has a fifty day moving average price of $193.41 and a 200-day moving average price of $192.96. The firm has a market capitalization of $37.10 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 5.44 and a beta of 0.37. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48. The Hershey Company has a one year low of $178.82 and a one year high of $211.92.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. The firm’s revenue for the quarter was down 16.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.01 earnings per share. Equities research analysts expect that The Hershey Company will post 9.47 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were given a dividend of $1.37 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.99%. Hershey’s dividend payout ratio (DPR) is currently 54.31%.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Bank of America dropped their target price on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. JPMorgan Chase & Co. decreased their price target on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. The Goldman Sachs Group assumed coverage on shares of Hershey in a research note on Monday, August 12th. They set a “sell” rating and a $185.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their price target on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research note on Tuesday, September 10th. Finally, Redburn Atlantic assumed coverage on shares of Hershey in a research note on Tuesday. They set a “sell” rating and a $165.00 price target for the company. Five investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $193.50.

Hershey 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.