Chevy Chase Trust Holdings LLC Has $15.79 Million Stake in The Hershey Company (NYSE:HSY)

Chevy Chase Trust Holdings LLC trimmed its stake in shares of The Hershey Company (NYSE:HSY) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,906 shares of the company’s stock after selling 2,453 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Hershey were worth $15,792,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in HSY. Riverview Trust Co acquired a new stake in shares of Hershey during the first quarter worth $29,000. OFI Invest Asset Management acquired a new stake in Hershey in the 2nd quarter valued at $29,000. Quarry LP acquired a new stake in Hershey in the 4th quarter valued at $34,000. Crewe Advisors LLC acquired a new stake in Hershey in the 1st quarter valued at $35,000. Finally, Park Place Capital Corp acquired a new stake in Hershey in the 1st quarter valued at $36,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Hershey

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $204.54, for a total value of $306,810.00. Following the completion of the transaction, the chief financial officer now directly owns 37,228 shares in the company, valued at approximately $7,614,615.12. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $204.54, for a total transaction of $306,810.00. Following the completion of the sale, the chief financial officer now directly owns 37,228 shares in the company, valued at $7,614,615.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Jennifer Mccalman sold 538 shares of the 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 sale, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at $644,912.46. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,038 shares of company stock worth $974,603. 0.34% of the stock is currently owned by company insiders.

Hershey Stock Performance

Hershey stock traded up $0.74 during midday trading on Tuesday, hitting $197.91. The company’s stock had a trading volume of 1,174,786 shares, compared to its average volume of 1,832,433. The Hershey Company has a 1-year low of $178.82 and a 1-year high of $219.92. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.64. The company has a 50-day moving average price of $190.37 and a two-hundred day moving average price of $193.24. The company has a market cap of $40.02 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 4.96 and a beta of 0.36.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.17). The company 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%. Hershey’s revenue for the quarter was down 16.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.01 EPS. As a group, sell-side analysts predict that The Hershey Company will post 9.59 earnings per share for the current year.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 16th will be given a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 2.77%. The ex-dividend date is Friday, August 16th. Hershey’s dividend payout ratio (DPR) is currently 54.31%.

Wall Street Analysts Forecast Growth

HSY has been the topic of several recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Hershey from $183.00 to $188.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Wells Fargo & Company lowered their price target on shares of Hershey from $205.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Friday, June 21st. Sanford C. Bernstein decreased their price objective on shares of Hershey from $237.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Barclays decreased their price objective on shares of Hershey from $210.00 to $204.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 18th. Finally, Piper Sandler reissued a “neutral” rating and issued a $179.00 price objective on shares of Hershey in a research report on Friday, June 21st. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $203.47.

About Hershey

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.