PNC Financial Services Group Inc. Sells 5,869 Shares of Hershey Company (The) $HSY

PNC Financial Services Group Inc. lessened its holdings in Hershey Company (The) (NYSE:HSY) by 2.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 271,206 shares of the company’s stock after selling 5,869 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Hershey were worth $56,381,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the stock. JPL Wealth Management LLC purchased a new stake in shares of Hershey during the 3rd quarter worth approximately $26,000. Reflection Asset Management purchased a new position in Hershey during the 4th quarter valued at about $26,000. Bard Associates Inc. bought a new stake in Hershey during the 4th quarter worth approximately $26,000. Laurel Wealth Advisors LLC purchased a new stake in shares of Hershey in the fourth quarter worth $27,000. Finally, Manchester Capital Management LLC raised its holdings in shares of Hershey by 123.0% in the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the company’s stock valued at $30,000 after acquiring an additional 91 shares in the last quarter. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Performance

NYSE:HSY opened at $172.31 on Friday. The stock has a 50-day simple moving average of $180.59 and a two-hundred day simple moving average of $196.94. The firm has a market capitalization of $34.95 billion, a PE ratio of 32.09, a P/E/G ratio of 1.07 and a beta of 0.11. Hershey Company has a 52-week low of $161.43 and a 52-week high of $239.48. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 1.24.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.04 by $0.31. Hershey had a net margin of 9.12% and a return on equity of 28.98%. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the previous year, the firm earned $2.09 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. Analysts forecast that Hershey Company will post 8.42 EPS for the current year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were issued a dividend of $1.452 per share. This represents a $5.81 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, May 15th. Hershey’s dividend payout ratio is 108.19%.

Key Headlines Impacting Hershey

Here are the key news stories impacting Hershey this week:

• Neutral Sentiment: Hershey is set to report quarterly earnings soon, but UBS said the Q2 print is unlikely to be a meaningful catalyst in either direction, implying limited near-term upside from the report. Hershey Q2 Print Unlikely to Be Meaningful Catalyst, UBS Says
• Neutral Sentiment: Several analysts and market commentary pieces say Hershey does not currently have a strong setup for an earnings beat, keeping expectations muted ahead of the report. Hershey (HSY) Earnings Expected to Grow: Should You Buy?
• Neutral Sentiment: Barclays reiterated a Hold rating on HSY, while Stifel cut its price target from $215 to $180 and also moved to Hold, reinforcing a cautious analyst stance. Barclays Sticks to Its Hold Rating for The Hershey Company (HSY)
• Neutral Sentiment: A recent article warned that HSY looks risky after losing ground over the past six months, with shares lagging the broader market, which may be adding to investor caution. 3 Reasons HSY is Risky and 1 Stock to Buy Instead

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HSY shares. Evercore set a $225.00 price objective on shares of Hershey in a report on Thursday. JPMorgan Chase & Co. dropped their price objective on Hershey from $204.00 to $191.00 and set a “neutral” rating for the company in a research note on Monday, July 13th. TD Cowen upgraded Hershey from a “hold” rating to a “buy” rating and set a $210.00 price target on the stock in a report on Friday, May 1st. Stifel Nicolaus decreased their price objective on shares of Hershey from $215.00 to $180.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Jefferies Financial Group set a $190.00 target price on Hershey in a research report on Thursday, July 16th. Seven analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $208.28.

Insider Buying and Selling

In other news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $173.43, for a total value of $260,145.00. Following the sale, the chief financial officer directly owned 54,695 shares in the company, valued at $9,485,753.85. The trade was a 2.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.08% of the stock is owned by company insiders.

Hershey Company Profile

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.