New York State Teachers Retirement System Sells 6,075 Shares of Hershey Co (HSY)

New York State Teachers Retirement System lessened its holdings in shares of Hershey Co (NYSE:HSY) by 3.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 179,935 shares of the company’s stock after selling 6,075 shares during the period. New York State Teachers Retirement System’s holdings in Hershey were worth $20,662,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Bremer Trust National Association acquired a new stake in shares of Hershey in the 4th quarter worth approximately $29,000. Claybrook Capital LLC acquired a new stake in shares of Hershey in the 4th quarter worth approximately $29,000. Cornerstone Advisors Inc. lifted its stake in shares of Hershey by 37.3% in the 1st quarter. Cornerstone Advisors Inc. now owns 302 shares of the company’s stock worth $35,000 after acquiring an additional 82 shares during the period. Acima Private Wealth LLC acquired a new stake in Hershey during the fourth quarter valued at approximately $33,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new stake in Hershey during the fourth quarter valued at approximately $36,000. 53.61% of the stock is owned by institutional investors and hedge funds.

In other Hershey news, VP Javier H. Idrovo sold 4,873 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $110.00, for a total value of $536,030.00. Following the transaction, the vice president now owns 21,436 shares in the company, valued at approximately $2,357,960. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michele Buck sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $117.00, for a total transaction of $175,500.00. Following the completion of the transaction, the chief executive officer now owns 161,429 shares in the company, valued at approximately $18,887,193. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,082,011 shares of company stock worth $385,916,058. Company insiders own 0.41% of the company’s stock.

Several equities research analysts recently commented on HSY shares. Bank of America restated a “buy” rating and issued a $130.00 price target (up previously from $120.00) on shares of Hershey in a research report on Friday, April 26th. Zacks Investment Research downgraded shares of Hershey from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. ValuEngine upgraded shares of Hershey from a “hold” rating to a “buy” rating in a research report on Thursday, April 25th. Barclays upped their price target on shares of Hershey from $103.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Finally, UBS Group set a $100.00 price target on shares of Hershey and gave the company a “sell” rating in a research report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. Hershey has an average rating of “Hold” and a consensus target price of $113.27.

Shares of NYSE:HSY opened at $128.90 on Monday. The company has a debt-to-equity ratio of 2.27, a current ratio of 0.92 and a quick ratio of 0.59. The company has a market capitalization of $26.91 billion, a P/E ratio of 24.05, a PEG ratio of 2.83 and a beta of 0.18. Hershey Co has a 52 week low of $89.29 and a 52 week high of $129.67.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.11. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. Hershey had a net margin of 14.44% and a return on equity of 90.64%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.41 EPS. On average, research analysts expect that Hershey Co will post 5.7 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be paid a $0.722 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $2.89 annualized dividend and a yield of 2.24%. Hershey’s dividend payout ratio is presently 53.92%.

COPYRIGHT VIOLATION WARNING: “New York State Teachers Retirement System Sells 6,075 Shares of Hershey Co (HSY)” was originally reported by WKRB News and is the sole property of of WKRB News. If you are accessing this story on another domain, it was illegally stolen and reposted in violation of United States and international trademark and copyright legislation. The original version of this story can be accessed at https://www.wkrb13.com/2019/05/20/new-york-state-teachers-retirement-system-sells-6075-shares-of-hershey-co-hsy.html.

About Hershey

The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.

Featured Article: Asset Allocation, Balancing Your Investments

Want to see what other hedge funds are holding HSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hershey Co (NYSE:HSY).

Institutional Ownership by Quarter for Hershey (NYSE:HSY)

Receive News & Ratings for Hershey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hershey and related companies with MarketBeat.com's FREE daily email newsletter.