Fifth Third Bancorp Lowers Holdings in The Hershey Company (NYSE:HSY)

Fifth Third Bancorp cut its holdings in The Hershey Company (NYSE:HSY) by 3.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,096 shares of the company’s stock after selling 648 shares during the period. Fifth Third Bancorp’s holdings in The Hershey were worth $2,881,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of HSY. First Trust Advisors LP lifted its holdings in The Hershey by 1.7% in the 2nd quarter. First Trust Advisors LP now owns 461,471 shares of the company’s stock worth $59,816,000 after purchasing an additional 7,778 shares in the last quarter. Retirement Systems of Alabama raised its holdings in shares of The Hershey by 58.9% during the 2nd quarter. Retirement Systems of Alabama now owns 103,603 shares of the company’s stock worth $13,429,000 after acquiring an additional 38,407 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of The Hershey by 1.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 38,461 shares of the company’s stock worth $4,985,000 after acquiring an additional 639 shares in the last quarter. Creative Planning raised its holdings in shares of The Hershey by 4.7% during the 2nd quarter. Creative Planning now owns 19,852 shares of the company’s stock worth $2,573,000 after acquiring an additional 894 shares in the last quarter. Finally, Dorsey Wright & Associates purchased a new stake in shares of The Hershey during the 2nd quarter worth approximately $264,000. 52.37% of the stock is currently owned by institutional investors.

In other news, CEO Michele Buck sold 2,500 shares of the stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $140.62, for a total transaction of $351,550.00. Following the transaction, the chief executive officer now owns 162,621 shares of the company’s stock, valued at approximately $22,867,765.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Pamela M. Arway sold 256 shares of the stock in a transaction on Wednesday, October 7th. The stock was sold at an average price of $142.02, for a total value of $36,357.12. Following the transaction, the director now directly owns 16,002 shares in the company, valued at approximately $2,272,604.04. The disclosure for this sale can be found here. Insiders have sold a total of 5,256 shares of company stock worth $738,682 in the last three months. Corporate insiders own 29.39% of the company’s stock.

Shares of The Hershey stock opened at $147.78 on Friday. The stock’s fifty day moving average is $146.55 and its two-hundred day moving average is $139.99. The company has a market capitalization of $30.76 billion, a PE ratio of 28.98, a price-to-earnings-growth ratio of 2.80 and a beta of 0.26. The company has a quick ratio of 0.86, a current ratio of 1.31 and a debt-to-equity ratio of 2.33. The Hershey Company has a 52 week low of $109.88 and a 52 week high of $161.83.

The Hershey (NYSE:HSY) last announced its quarterly earnings data on Wednesday, November 11th. The company reported $1.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.72 by $0.14. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.16 billion. The Hershey had a return on equity of 70.65% and a net margin of 13.50%. The Hershey’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.61 EPS. As a group, research analysts anticipate that The Hershey Company will post 6.04 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, November 20th will be given a dividend of $0.804 per share. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Thursday, November 19th. The Hershey’s payout ratio is 55.71%.

HSY has been the topic of several recent research reports. BMO Capital Markets raised The Hershey from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $150.00 to $163.00 in a report on Tuesday, September 29th. Morgan Stanley upped their price objective on The Hershey from $148.00 to $152.00 and gave the stock an “equal weight” rating in a report on Monday, November 9th. Credit Suisse Group upped their price objective on The Hershey from $170.00 to $172.00 and gave the stock an “outperform” rating in a report on Monday, November 9th. Wells Fargo & Company decreased their price objective on The Hershey from $155.00 to $149.00 and set an “equal weight” rating on the stock in a report on Monday, November 9th. Finally, Barclays reaffirmed a “hold” rating on shares of The Hershey in a report on Sunday, November 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $149.13.

The Hershey Company Profile

The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.

Further Reading: Economic Bubble

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

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