Bank of New York Mellon Corp Sells 152,192 Shares of The Hershey Company (NYSE:HSY)

Bank of New York Mellon Corp decreased its stake in The Hershey Company (NYSE:HSY - Free Report) by 13.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 973,234 shares of the company's stock after selling 152,192 shares during the quarter. Bank of New York Mellon Corp owned 0.48% of Hershey worth $164,817,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new position in shares of Hershey in the third quarter worth approximately $25,000. Grove Bank & Trust grew its position in Hershey by 248.0% during the 4th quarter. Grove Bank & Trust now owns 174 shares of the company's stock worth $29,000 after purchasing an additional 124 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in Hershey during the 3rd quarter valued at $46,000. ST Germain D J Co. Inc. lifted its holdings in shares of Hershey by 61.7% in the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company's stock valued at $44,000 after purchasing an additional 100 shares in the last quarter. Finally, City State Bank boosted its position in shares of Hershey by 210.0% in the fourth quarter. City State Bank now owns 310 shares of the company's stock worth $52,000 after buying an additional 210 shares during the period. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Stock Performance

Shares of NYSE:HSY traded up $6.06 during trading on Monday, reaching $178.77. The stock had a trading volume of 1,390,103 shares, compared to its average volume of 1,817,442. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. The stock has a fifty day simple moving average of $160.58 and a two-hundred day simple moving average of $177.00. The firm has a market capitalization of $36.19 billion, a price-to-earnings ratio of 16.40, a P/E/G ratio of 5.90 and a beta of 0.37. The Hershey Company has a 52 week low of $140.13 and a 52 week high of $211.92.

Hershey (NYSE:HSY - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. As a group, analysts anticipate that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 17th will be issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date is Friday, February 14th. Hershey's dividend payout ratio (DPR) is currently 50.28%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HSY. Royal Bank of Canada reissued a "sector perform" rating and set a $178.00 price target on shares of Hershey in a research report on Monday, February 3rd. Jefferies Financial Group reduced their price target on shares of Hershey from $150.00 to $134.00 and set an "underperform" rating for the company in a research report on Tuesday, January 21st. UBS Group decreased their price target on shares of Hershey from $189.00 to $163.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Wells Fargo & Company dropped their price objective on shares of Hershey from $150.00 to $140.00 and set an "underweight" rating on the stock in a research note on Friday, January 17th. Finally, Stifel Nicolaus decreased their target price on shares of Hershey from $170.00 to $160.00 and set a "hold" rating for the company in a research note on Friday, February 7th. Five equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. According to MarketBeat.com, Hershey currently has a consensus rating of "Hold" and an average target price of $164.15.

Insiders Place Their Bets

In other news, CAO Jennifer Mccalman sold 278 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the sale, the chief accounting officer now owns 2,682 shares in the company, valued at approximately $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.34% of the company's stock.

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.