Deutsche Bank AG Sells 154,896 Shares of Hershey Co (NYSE:HSY)

Deutsche Bank AG cut its stake in Hershey Co (NYSE:HSY) by 18.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 694,108 shares of the company’s stock after selling 154,896 shares during the period. Deutsche Bank AG owned about 0.33% of Hershey worth $74,389,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its holdings in shares of Hershey by 6.7% in the third quarter. JPMorgan Chase & Co. now owns 129,031 shares of the company’s stock worth $13,161,000 after purchasing an additional 8,063 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Hershey by 51.2% in the third quarter. Bank of New York Mellon Corp now owns 1,998,325 shares of the company’s stock worth $203,829,000 after purchasing an additional 676,300 shares during the last quarter. Martingale Asset Management L P grew its holdings in shares of Hershey by 1.9% in the third quarter. Martingale Asset Management L P now owns 385,127 shares of the company’s stock worth $39,284,000 after purchasing an additional 7,202 shares during the last quarter. Korea Investment CORP grew its holdings in shares of Hershey by 1,909.1% in the third quarter. Korea Investment CORP now owns 50,972 shares of the company’s stock worth $5,199,000 after purchasing an additional 48,435 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Hershey by 33.6% in the third quarter. Dimensional Fund Advisors LP now owns 514,808 shares of the company’s stock worth $52,510,000 after purchasing an additional 129,515 shares during the last quarter. Hedge funds and other institutional investors own 52.51% of the company’s stock.

NYSE:HSY opened at $125.17 on Friday. Hershey Co has a 1-year low of $89.10 and a 1-year high of $126.11. The stock has a market capitalization of $24.37 billion, a P/E ratio of 23.35, a price-to-earnings-growth ratio of 2.44 and a beta of 0.15. The company has a quick ratio of 0.60, a current ratio of 0.93 and a debt-to-equity ratio of 2.31.

Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.11. Hershey had a net margin of 15.11% and a return on equity of 95.97%. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. During the same period in the prior year, the firm earned $1.41 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts predict that Hershey Co will post 5.64 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be issued a $0.722 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.89 dividend on an annualized basis and a yield of 2.31%. Hershey’s payout ratio is currently 53.92%.

A number of research firms have recently commented on HSY. Barclays upped their price target on shares of Hershey from $103.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday. Zacks Investment Research cut shares of Hershey from a “buy” rating to a “hold” rating in a report on Monday, January 21st. Bank of America reaffirmed a “buy” rating and issued a $130.00 price objective (up from $120.00) on shares of Hershey in a research note on Friday. BMO Capital Markets reaffirmed a “market perform” rating and issued a $108.00 price objective (up from $93.00) on shares of Hershey in a research note on Friday. Finally, Credit Suisse Group set a $123.00 price objective on shares of Hershey and gave the stock a “hold” rating in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $108.83.

In other news, VP Javier H. Idrovo sold 4,873 shares of Hershey stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $110.00, for a total transaction of $536,030.00. Following the transaction, the vice president now owns 21,436 shares in the company, valued at approximately $2,357,960. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michele Buck sold 1,500 shares of Hershey stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $117.00, for a total value of $175,500.00. Following the transaction, the chief executive officer now owns 161,429 shares in the company, valued at approximately $18,887,193. The disclosure for this sale can be found here. Insiders sold a total of 49,178 shares of company stock worth $5,548,900 in the last 90 days. 0.87% of the stock is currently owned by insiders.

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Hershey Profile

The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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