Hershey Company (The) (HSY) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its position in Hershey Company (The) (NYSE:HSY) by 4.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 559,657 shares of the company’s stock after selling 24,274 shares during the quarter. PNC Financial Services Group Inc. owned 0.37% of Hershey Company (The) worth $60,090,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Martingale Asset Management L P increased its position in shares of Hershey Company (The) by 9.0% in the first quarter. Martingale Asset Management L P now owns 124,909 shares of the company’s stock valued at $13,647,000 after buying an additional 10,303 shares in the last quarter. Assetmark Inc. increased its position in shares of Hershey Company (The) by 499.8% in the first quarter. Assetmark Inc. now owns 15,860 shares of the company’s stock valued at $1,733,000 after buying an additional 13,216 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Hershey Company (The) by 16.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 140,777 shares of the company’s stock valued at $15,117,000 after buying an additional 20,116 shares in the last quarter. Eagle Asset Management Inc. purchased a new position in shares of Hershey Company (The) in the first quarter valued at $2,145,000. Finally, Diversified Trust Co increased its position in shares of Hershey Company (The) by 12.1% in the second quarter. Diversified Trust Co now owns 2,401 shares of the company’s stock valued at $258,000 after buying an additional 260 shares in the last quarter. Institutional investors and hedge funds own 51.39% of the company’s stock.

In related news, insider Michele Buck sold 400 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $108.00, for a total transaction of $43,200.00. Following the transaction, the insider now directly owns 165,697 shares of the company’s stock, valued at $17,895,276. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Hershey Trust Co Trustee In Tr sold 4,500,000 shares of the company’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $106.01, for a total value of $477,045,000.00. The disclosure for this sale can be found here. Insiders have sold 4,509,773 shares of company stock worth $478,121,705 over the last three months. 0.92% of the stock is owned by insiders.

A number of research analysts have recently weighed in on the company. Susquehanna Bancshares Inc set a $115.00 price target on Hershey Company (The) and gave the company a “hold” rating in a research report on Saturday, June 17th. Sanford C. Bernstein upgraded Hershey Company (The) from a “market perform” rating to an “outperform” rating and raised their price target for the company from $109.00 to $127.00 in a research report on Thursday, August 17th. BidaskClub cut Hershey Company (The) from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Royal Bank Of Canada restated a “sector perform” rating and issued a $115.00 price target (up previously from $114.00) on shares of Hershey Company (The) in a research report on Thursday, July 27th. Finally, Zacks Investment Research cut Hershey Company (The) from a “buy” rating to a “sell” rating in a research report on Thursday, June 29th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $111.48.

Hershey Company (NYSE HSY) traded up 1.08% during mid-day trading on Friday, reaching $110.50. The company’s stock had a trading volume of 1,224,543 shares. The firm has a 50-day moving average of $106.42 and a 200 day moving average of $108.51. The firm has a market capitalization of $23.48 billion, a price-to-earnings ratio of 35.30 and a beta of 0.38. Hershey Company has a 1-year low of $94.03 and a 1-year high of $116.49.

Hershey Company (The) (NYSE:HSY) last announced its earnings results on Wednesday, July 26th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.90 by $0.19. Hershey Company (The) had a return on equity of 119.66% and a net margin of 8.95%. The business had revenue of $1.66 billion during the quarter, compared to the consensus estimate of $1.65 billion. During the same period in the prior year, the business posted $0.85 earnings per share. Hershey Company (The)’s revenue was up 1.5% compared to the same quarter last year. Equities analysts expect that Hershey Company will post $4.82 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were given a dividend of $0.656 per share. This represents a $2.62 annualized dividend and a yield of 2.37%. This is a positive change from Hershey Company (The)’s previous quarterly dividend of $0.62. The ex-dividend date was Wednesday, August 23rd. Hershey Company (The)’s payout ratio is presently 83.44%.

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Hershey Company (The) Company Profile

The Hershey Company is a producer of chocolate in North America. The Company’s principal product offerings include chocolate and non-chocolate confectionery products; gum and mint refreshment products; pantry items, such as baking ingredients and beverages, and snack items, such as spreads, meat snacks, bars and snack bites and mixes.

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Institutional Ownership by Quarter for Hershey Company (The) (NYSE:HSY)

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