Somerset Trust Co Has $784,000 Holdings in The Hershey Company (NYSE:HSY)

Somerset Trust Co lessened its holdings in shares of The Hershey Company (NYSE:HSYFree Report) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,033 shares of the company’s stock after selling 113 shares during the period. Somerset Trust Co’s holdings in Hershey were worth $784,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Hershey by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 15,182,809 shares of the company’s stock worth $2,830,683,000 after purchasing an additional 271,636 shares during the period. Norges Bank acquired a new position in shares of Hershey during the fourth quarter worth $349,448,000. Northern Trust Corp lifted its holdings in shares of Hershey by 2.0% during the third quarter. Northern Trust Corp now owns 1,779,549 shares of the company’s stock worth $356,052,000 after purchasing an additional 35,393 shares during the period. FMR LLC lifted its holdings in shares of Hershey by 0.7% during the third quarter. FMR LLC now owns 1,170,830 shares of the company’s stock worth $234,260,000 after purchasing an additional 8,344 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Hershey by 2.2% during the third quarter. Ameriprise Financial Inc. now owns 997,329 shares of the company’s stock worth $198,085,000 after purchasing an additional 21,229 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Piper Sandler lowered their target price on shares of Hershey from $200.00 to $179.00 and set a “neutral” rating for the company in a research note on Monday, April 15th. Wells Fargo & Company lifted their target price on shares of Hershey from $200.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Monday, May 6th. Royal Bank of Canada reissued a “sector perform” rating and set a $213.00 target price on shares of Hershey in a research note on Friday, March 15th. Barclays lowered their target price on shares of Hershey from $210.00 to $204.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Citigroup lowered their target price on shares of Hershey from $213.00 to $199.00 and set a “neutral” rating for the company in a research note on Thursday, April 11th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $210.22.

Read Our Latest Research Report on Hershey

Insider Transactions at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $197.90, for a total value of $296,850.00. Following the transaction, the chief financial officer now owns 40,228 shares of the company’s stock, valued at approximately $7,961,121.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 4,500 shares of company stock valued at $882,405 in the last quarter. Insiders own 0.29% of the company’s stock.

Hershey Price Performance

Hershey stock traded down $0.32 during midday trading on Wednesday, reaching $182.73. 2,294,174 shares of the stock were exchanged, compared to its average volume of 1,357,960. The company’s fifty day moving average is $194.54 and its 200-day moving average is $192.45. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.64 and a current ratio of 0.97. The firm has a market cap of $36.95 billion, a PE ratio of 18.11, a PEG ratio of 4.09 and a beta of 0.37. The Hershey Company has a 52 week low of $178.82 and a 52 week high of $262.30.

Hershey (NYSE:HSYGet Free Report) last posted its earnings results on Friday, May 3rd. The company reported $3.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.74 by $0.33. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.11 billion. Hershey had a net margin of 18.13% and a return on equity of 50.15%. Hershey’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.96 EPS. On average, sell-side analysts forecast that The Hershey Company will post 9.6 EPS for the current year.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 17th were issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Thursday, May 16th. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

Hershey Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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