Franklin Resources Inc. Sells 148,828 Shares of The Hershey Company (NYSE:HSY)

Franklin Resources Inc. decreased its holdings in The Hershey Company (NYSE:HSYFree Report) by 61.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 94,469 shares of the company’s stock after selling 148,828 shares during the period. Franklin Resources Inc.’s holdings in Hershey were worth $17,613,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Costello Asset Management INC bought a new position in Hershey during the 3rd quarter worth $25,000. BKM Wealth Management LLC acquired a new stake in shares of Hershey during the 4th quarter valued at $26,000. First Financial Corp IN acquired a new stake in shares of Hershey during the 4th quarter valued at $29,000. Highlander Capital Management LLC boosted its holdings in shares of Hershey by 125.3% during the 4th quarter. Highlander Capital Management LLC now owns 169 shares of the company’s stock valued at $32,000 after acquiring an additional 94 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new position in Hershey during the 4th quarter worth $32,000. Institutional investors own 57.96% of the company’s stock.

Insider Transactions at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $185.83, for a total value of $278,745.00. Following the transaction, the chief financial officer now owns 38,728 shares in the company, valued at approximately $7,196,824.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 4,500 shares of company stock worth $882,405 in the last 90 days. Insiders own 0.29% of the company’s stock.

Hershey Price Performance

HSY stock opened at $197.61 on Wednesday. The company has a market capitalization of $39.96 billion, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 4.41 and a beta of 0.33. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.64 and a current ratio of 0.97. The Hershey Company has a 52-week low of $178.82 and a 52-week high of $263.29. The business has a 50-day simple moving average of $195.60 and a two-hundred day simple moving average of $192.45.

Hershey (NYSE:HSYGet Free Report) last released its quarterly earnings results on Friday, May 3rd. The company reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.74 by $0.33. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.11 billion. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.96 EPS. Research analysts expect that The Hershey Company will post 9.6 EPS for the current fiscal year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 17th will be paid a $1.37 dividend. The ex-dividend date is Thursday, May 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.77%. Hershey’s payout ratio is presently 54.31%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wells Fargo & Company raised their target price on Hershey from $200.00 to $205.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. Edward Jones reaffirmed a “hold” rating on shares of Hershey in a research report on Friday, April 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $213.00 target price on shares of Hershey in a research report on Friday, March 15th. Citigroup lowered their price objective on Hershey from $213.00 to $199.00 and set a “neutral” rating for the company in a research report on Thursday, April 11th. Finally, BNP Paribas lowered Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 price objective for the company. in a research report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $213.06.

Check Out Our Latest Stock Analysis on Hershey

Hershey Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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