Amalgamated Bank Has $5.57 Million Stock Position in The Hershey Company (NYSE:HSY)

Amalgamated Bank cut its holdings in The Hershey Company (NYSE:HSY) by 5.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,308 shares of the company’s stock after selling 1,849 shares during the period. Amalgamated Bank’s holdings in Hershey were worth $5,572,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in HSY. Capital Advisors Ltd. LLC increased its stake in Hershey by 218.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after buying an additional 96 shares during the last quarter. GHP Investment Advisors Inc. increased its position in shares of Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after acquiring an additional 55 shares during the last quarter. Riverview Trust Co bought a new stake in Hershey during the first quarter worth about $29,000. OFI Invest Asset Management acquired a new position in Hershey during the second quarter valued at approximately $29,000. Finally, Quarry LP bought a new position in Hershey in the fourth quarter valued at approximately $34,000. Institutional investors own 57.96% of the company’s stock.

Analyst Ratings Changes

HSY has been the subject of several recent analyst reports. Sanford C. Bernstein cut their price objective on Hershey from $237.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, July 17th. 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. Argus cut shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Citigroup cut Hershey from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $195.00 to $182.00 in a report on Tuesday, August 27th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $203.21.

Insiders Place Their Bets

In other news, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $199.17, for a total value of $107,153.46. Following the completion of the transaction, the chief accounting officer now directly owns 3,238 shares in the company, valued at approximately $644,912.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $190.83, for a total value of $286,245.00. Following the transaction, the chief financial officer now owns 34,228 shares in the company, valued at $6,531,729.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jennifer Mccalman sold 538 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $199.17, for a total transaction of $107,153.46. Following the completion of the transaction, the chief accounting officer now directly owns 3,238 shares of the company’s stock, valued at approximately $644,912.46. The disclosure for this sale can be found here. Insiders have sold 3,538 shares of company stock worth $667,793 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Hershey Price Performance

Shares of Hershey stock opened at $195.23 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $39.48 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 5.77 and a beta of 0.37. The Hershey Company has a twelve month low of $178.82 and a twelve month high of $211.92. The company has a 50-day simple moving average of $196.30 and a two-hundred day simple moving average of $194.03.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.27 earnings per share for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.17). Hershey had a net margin of 16.76% and a return on equity of 45.36%. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.30 billion. During the same quarter in the previous year, the firm posted $2.01 earnings per share. The firm’s quarterly revenue was down 16.7% on a year-over-year basis. Analysts forecast that The Hershey Company will post 9.5 EPS for the current year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 16th were given a dividend of $1.37 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $5.48 annualized dividend and a yield of 2.81%. Hershey’s dividend payout ratio is 54.31%.

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.