Bank of New York Mellon Corp Has $164.82 Million Stock Position in The Hershey Company (NYSE:HSY)

Bank of New York Mellon Corp lessened its position in shares of The Hershey Company (NYSE:HSY) by 13.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 973,234 shares of the company’s stock after selling 152,192 shares during the quarter. Bank of New York Mellon Corp’s holdings in Hershey were worth $164,817,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Hershey during the third quarter worth $1,337,000. Principal Financial Group Inc. raised its position in shares of Hershey by 66.7% in the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after acquiring an additional 389,404 shares in the last quarter. Woodstock Corp lifted its stake in shares of Hershey by 34.8% in the 4th quarter. Woodstock Corp now owns 6,896 shares of the company’s stock valued at $1,168,000 after purchasing an additional 1,780 shares during the period. Elevate Capital Advisors LLC bought a new stake in shares of Hershey during the 4th quarter valued at about $1,939,000. Finally, HighTower Advisors LLC grew its stake in Hershey by 61.9% during the third quarter. HighTower Advisors LLC now owns 120,159 shares of the company’s stock worth $23,052,000 after purchasing an additional 45,936 shares during the period. Institutional investors own 57.96% of the company’s stock.

Hershey Trading Up 0.6 %

NYSE HSY opened at $172.33 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68. The business has a fifty day simple moving average of $160.53 and a 200 day simple moving average of $177.50. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $211.92. The firm has a market capitalization of $34.87 billion, a P/E ratio of 15.81, a PEG ratio of 5.90 and a beta of 0.37.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, beating the consensus estimate of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. On average, analysts predict that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 17th will be paid a $1.37 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.18%. Hershey’s payout ratio is presently 50.28%.

Analyst Ratings Changes

HSY has been the topic of several recent analyst reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $178.00 price target on shares of Hershey in a research note on Monday, February 3rd. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Hershey from $184.00 to $148.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. TD Cowen reduced their price target on shares of Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Bernstein Bank dropped their price objective on shares of Hershey from $177.00 to $146.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. Finally, Mizuho reduced their target price on Hershey from $170.00 to $140.00 in a research note on Wednesday, February 5th. Five investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $164.15.

Insider Activity at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $148.00, for a total value of $41,144.00. Following the completion of the transaction, the chief accounting officer now owns 2,682 shares in the company, valued at $396,936. This represents a 9.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is currently owned by company insiders.

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.