PNC Financial Services Group Inc. Cuts Stock Position in The Hershey Company (NYSE:HSY)

PNC Financial Services Group Inc. decreased its stake in The Hershey Company (NYSE:HSY - Free Report) by 21.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 332,651 shares of the company's stock after selling 91,872 shares during the quarter. PNC Financial Services Group Inc. owned about 0.16% of Hershey worth $56,334,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. State Street Corp raised its stake in shares of Hershey by 5.8% in the third quarter. State Street Corp now owns 7,029,551 shares of the company's stock valued at $1,348,127,000 after acquiring an additional 386,670 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Hershey by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company's stock worth $785,003,000 after acquiring an additional 247,675 shares during the last quarter. Geode Capital Management LLC grew its position in Hershey by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,753,751 shares of the company's stock valued at $717,606,000 after acquiring an additional 35,688 shares during the last quarter. Principal Financial Group Inc. grew its stake in Hershey by 66.7% in the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company's stock worth $186,571,000 after purchasing an additional 389,404 shares in the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Hershey by 3.2% in the 3rd quarter. Stifel Financial Corp now owns 964,748 shares of the company's stock worth $185,027,000 after purchasing an additional 29,507 shares in the last quarter. Institutional investors own 57.96% of the company's stock.

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Insider Buying and Selling

In other news, CAO Jennifer Mccalman sold 278 shares of Hershey stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction of $41,144.00. Following the transaction, the chief accounting officer now directly owns 2,682 shares of the company's stock, valued at $396,936. The trade was a 9.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Jefferies Financial Group cut their price objective on shares of Hershey from $150.00 to $134.00 and set an "underperform" rating for the company in a report on Tuesday, January 21st. Bernstein Bank cut their target price on Hershey from $177.00 to $146.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. Barclays cut their price target on Hershey from $170.00 to $160.00 and set an "equal weight" rating on the stock in a report on Monday, February 10th. DA Davidson cut their price target on Hershey from $164.00 to $149.00 and set a "neutral" rating on the stock in a research note on Monday, February 10th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $178.00 target price on shares of Hershey in a research report on Monday, February 3rd. Five analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, Hershey presently has an average rating of "Hold" and an average price target of $164.15.

Hershey Price Performance

Shares of NYSE:HSY traded down $5.29 during trading on Tuesday, hitting $181.08. 1,196,437 shares of the company were exchanged, compared to its average volume of 1,809,378. 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 Hershey Company has a 1-year low of $140.13 and a 1-year high of $211.92. The company has a market capitalization of $36.65 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32. The business's 50 day moving average is $161.83 and its 200-day moving average is $176.33.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) 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%. Equities analysts forecast that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 17th will be issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Friday, February 14th. Hershey's dividend payout ratio (DPR) is presently 50.28%.

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.