Retirement Systems of Alabama Has $5.43 Million Holdings in Hershey Company (The) (NYSE:HSY)

Retirement Systems of Alabama decreased its position in Hershey Company (The) (NYSE:HSY) by 0.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,747 shares of the company’s stock after selling 240 shares during the period. Retirement Systems of Alabama’s holdings in Hershey were worth $5,430,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Montag & Caldwell LLC bought a new stake in Hershey in the 4th quarter worth about $25,000. Putney Financial Group LLC bought a new stake in Hershey in the 4th quarter worth about $25,000. Crowley Wealth Management Inc. bought a new stake in Hershey in the 4th quarter worth about $28,000. Mpwm Advisory Solutions LLC bought a new stake in Hershey in the 4th quarter worth about $28,000. Finally, Vision Financial Markets LLC bought a new stake in Hershey in the 4th quarter worth about $29,000. 57.96% of the stock is owned by institutional investors.

Hershey Stock Down 0.6%

NYSE:HSY opened at $172.06 on Wednesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.11 and a current ratio of 1.59. The firm has a market cap of $34.86 billion, a P/E ratio of 21.22, a P/E/G ratio of 6.32 and a beta of 0.29. Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $208.03. The firm has a 50-day simple moving average of $164.58 and a two-hundred day simple moving average of $165.40.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.15. The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Hershey had a net margin of 15.32% and a return on equity of 38.70%. The business’s revenue for the quarter was down 13.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.07 earnings per share. Analysts predict that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 16th were issued a $1.37 dividend. The ex-dividend date was Friday, May 16th. This represents a $5.48 annualized dividend and a yield of 3.18%. Hershey’s dividend payout ratio (DPR) is presently 67.57%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HSY. Morgan Stanley dropped their target price on shares of Hershey from $183.00 to $177.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 17th. Citigroup dropped their target price on shares of Hershey from $173.00 to $165.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. DA Davidson upped their price target on shares of Hershey from $162.00 to $163.00 and gave the company a “neutral” rating in a research note on Monday, May 5th. Mizuho dropped their price target on shares of Hershey from $167.00 to $155.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 28th. Finally, Royal Bank Of Canada dropped their price target on shares of Hershey from $178.00 to $175.00 and set a “sector perform” rating on the stock in a research note on Friday, May 2nd. Five research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $158.84.

Insiders Place Their Bets

In related news, CEO Michele Buck sold 31,210 shares of the business’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $160.80, for a total transaction of $5,018,568.00. Following the completion of the sale, the chief executive officer now directly owns 193,624 shares in the company, valued at approximately $31,134,739.20. The trade was a 13.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Jennifer Mccalman sold 974 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $157.11, for a total transaction of $153,025.14. Following the sale, the chief accounting officer now owns 2,994 shares of the company’s stock, valued at $470,387.34. This trade represents a 24.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.

Hershey Company 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.