PNC Financial Services Group Inc. Sells 91,872 Shares of The Hershey Company (NYSE:HSY)

PNC Financial Services Group Inc. lowered its stake in shares of The Hershey Company (NYSE:HSY) by 21.6% during the fourth quarter, HoldingsChannel reports. The firm owned 332,651 shares of the company’s stock after selling 91,872 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Hershey were worth $56,334,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in shares of Hershey during the 3rd quarter worth approximately $25,000. Grove Bank & Trust increased its holdings in shares of Hershey by 248.0% during the 4th quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after acquiring an additional 124 shares during the last quarter. Vision Financial Markets LLC acquired a new position in shares of Hershey during the 4th quarter worth approximately $29,000. ST Germain D J Co. Inc. increased its holdings in shares of Hershey by 61.7% during the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock worth $44,000 after acquiring an additional 100 shares during the last quarter. Finally, Peterson Financial Group Inc. acquired a new position in shares of Hershey during the 3rd quarter worth approximately $46,000. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Performance

HSY opened at $185.11 on Monday. The firm has a market cap of $37.47 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32. The Hershey Company has a 52-week low of $140.13 and a 52-week high of $211.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96. The business’s fifty day moving average is $161.48 and its 200-day moving average is $176.40.

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

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 17th will be given a dividend of $1.37 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $5.48 annualized dividend and a dividend yield of 2.96%. Hershey’s dividend payout ratio is currently 50.28%.

Insider Buying and Selling

In related news, CAO Jennifer Mccalman sold 278 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction of $41,144.00. Following the completion of the sale, the chief accounting officer now directly owns 2,682 shares in the company, valued at $396,936. This represents a 9.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

HSY has been the topic of a number of recent analyst reports. TD Cowen decreased their target price on Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Bernstein Bank decreased their target price on Hershey from $177.00 to $146.00 and set a “market perform” rating on the stock in a report on Wednesday, February 5th. UBS Group decreased their target price on Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Piper Sandler lowered Hershey from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $153.00 to $120.00 in a report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Hershey from $184.00 to $148.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Five research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $164.15.

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.