The Hershey Company (NYSE:HSY) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lowered its stake in shares of The Hershey Company (NYSE:HSY) by 70.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,843 shares of the company’s stock after selling 89,968 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Hershey were worth $6,757,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. AE Wealth Management LLC raised its stake in Hershey by 5.6% during the second quarter. AE Wealth Management LLC now owns 3,782 shares of the company’s stock worth $695,000 after purchasing an additional 200 shares during the period. Bridges Investment Management Inc. raised its stake in Hershey by 353.6% during the second quarter. Bridges Investment Management Inc. now owns 68,051 shares of the company’s stock worth $12,510,000 after purchasing an additional 53,050 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in Hershey by 4.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 83,166 shares of the company’s stock worth $15,289,000 after purchasing an additional 3,864 shares during the period. Brighton Jones LLC raised its stake in Hershey by 2.3% during the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after purchasing an additional 59 shares during the period. Finally, MQS Management LLC purchased a new position in Hershey during the second quarter worth approximately $284,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Insiders Place Their Bets

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

Hershey Stock Performance

Hershey stock opened at $195.43 on Friday. The company has a market capitalization of $39.52 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 5.77 and a beta of 0.37. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48. The Hershey Company has a 12-month low of $178.82 and a 12-month high of $211.92. The firm’s fifty day moving average price is $196.30 and its 200 day moving average price is $194.07.

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

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 16th were issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 2.80%. The ex-dividend date was Friday, August 16th. Hershey’s dividend payout ratio is currently 54.31%.

Wall Street Analysts Forecast Growth

HSY has been the topic of a number of recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Hershey in a research note on Monday, August 12th. They set a “sell” rating and a $185.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Wells Fargo & Company cut their target price 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. JPMorgan Chase & Co. raised their target price 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. Finally, Royal Bank of Canada cut their target price on shares of Hershey from $209.00 to $205.00 and set a “sector perform” rating on the stock in a research note on Friday, August 2nd. 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. Based on data from MarketBeat.com, Hershey has a consensus rating of “Hold” and a consensus price target of $203.21.

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.