Atlantic Union Bankshares Corp Decreases Stock Holdings in The Hershey Company (NYSE:HSY)

Atlantic Union Bankshares Corp decreased its position in The Hershey Company (NYSE:HSY) by 9.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,379 shares of the company’s stock after selling 533 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Hershey were worth $1,046,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of HSY. Algert Global LLC bought a new stake in shares of Hershey in the 3rd quarter worth approximately $235,000. Natixis Advisors L.P. boosted its holdings in Hershey by 6.5% in the third quarter. Natixis Advisors L.P. now owns 57,477 shares of the company’s stock valued at $11,500,000 after acquiring an additional 3,511 shares in the last quarter. Westfield Capital Management Co. LP increased its position in Hershey by 22.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 30,629 shares of the company’s stock valued at $6,128,000 after purchasing an additional 5,686 shares during the period. Treasurer of the State of North Carolina raised its holdings in Hershey by 6.1% in the 3rd quarter. Treasurer of the State of North Carolina now owns 84,751 shares of the company’s stock worth $16,957,000 after purchasing an additional 4,908 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Hershey by 26.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 8,949 shares of the company’s stock worth $1,791,000 after purchasing an additional 1,870 shares during the period. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Stock Up 0.1 %

HSY opened at $183.83 on Friday. The Hershey Company has a 52 week low of $178.82 and a 52 week high of $251.73. The company has a quick ratio of 0.64, a current ratio of 0.97 and a debt-to-equity ratio of 0.92. The firm has a 50-day simple moving average of $194.24 and a two-hundred day simple moving average of $192.15. The company has a market capitalization of $37.18 billion, a PE ratio of 18.22, a price-to-earnings-growth ratio of 4.11 and a beta of 0.37.

Hershey (NYSE:HSY) last released its quarterly earnings results on Friday, May 3rd. The company reported $3.07 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.33. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.96 EPS. Analysts forecast that The Hershey Company will post 9.59 earnings per share for the current fiscal year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 17th were paid a $1.37 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.98%. Hershey’s payout ratio is currently 54.31%.

Analysts Set New Price Targets

HSY has been the topic of several research analyst reports. Citigroup reduced their price target on shares of Hershey from $213.00 to $199.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Piper Sandler reissued a “neutral” rating and issued a $179.00 target price on shares of Hershey in a research report on Friday, June 21st. Wells Fargo & Company lowered their target price on Hershey from $205.00 to $195.00 and set an “equal weight” rating for the company in a research note on Friday, June 21st. Argus reduced their price target on Hershey from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $213.00 price objective on shares of Hershey in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Hershey has a consensus rating of “Hold” and an average price target of $209.67.

Insider Transactions at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $182.93, for a total value of $274,395.00. Following the completion of the transaction, the chief financial officer now owns 35,728 shares of the company’s stock, valued at approximately $6,535,723.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 4,500 shares of company stock worth $859,950 in the last three months. Insiders own 0.34% of the company’s stock.

Hershey 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.