Somerset Trust Co Sells 58 Shares of The Hershey Company (NYSE:HSY)

Somerset Trust Co lessened its holdings in shares of The Hershey Company (NYSE:HSY) by 1.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 4,062 shares of the company’s stock after selling 58 shares during the period. Somerset Trust Co’s holdings in Hershey were worth $779,000 at the end of the most recent reporting period.

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

Hershey Price Performance

Shares of HSY stock opened at $186.97 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.48 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $37.81 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 5.67 and a beta of 0.37. The firm’s 50 day moving average is $195.98 and its 200-day moving average is $193.59. The Hershey Company has a 1 year low of $178.82 and a 1 year high of $211.92.

Hershey (NYSE:HSY) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. The firm’s quarterly revenue was down 16.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.01 earnings per share. Sell-side analysts forecast that The Hershey Company will post 9.49 EPS for the current fiscal year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were issued a dividend of $1.37 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $5.48 annualized dividend and a yield of 2.93%. Hershey’s dividend payout ratio is currently 54.31%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Sanford C. Bernstein lowered Hershey from an “outperform” rating to a “market perform” rating and cut their target price for the company from $230.00 to $205.00 in a research note on Monday. Barclays dropped their price objective on shares of Hershey from $204.00 to $202.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 24th. Jefferies Financial Group lowered shares of Hershey from a “hold” rating to an “underperform” rating and decreased their target price for the company from $184.00 to $163.00 in a research report on Thursday, September 26th. The Goldman Sachs Group assumed coverage on shares of Hershey in a research report on Monday, August 12th. They issued a “sell” rating and a $185.00 price target for the company. Finally, JPMorgan Chase & Co. lifted their price objective on Hershey from $183.00 to $188.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $197.90.

Insider Buying and Selling at Hershey

In other Hershey 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 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 Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $190.83, for a total transaction of $286,245.00. Following the completion of the transaction, the chief financial officer now owns 34,228 shares in the company, valued at approximately $6,531,729.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction on Monday, August 12th. The stock was sold at an average price of $199.17, for a total transaction of $107,153.46. Following the transaction, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% 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.