Connors Investor Services Inc. Sells 8,810 Shares of The Hershey Company (NYSE:HSY)

Connors Investor Services Inc. decreased its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 86.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,360 shares of the company's stock after selling 8,810 shares during the quarter. Connors Investor Services Inc.'s holdings in Hershey were worth $230,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Montag & Caldwell LLC bought a new stake in shares of Hershey during the fourth quarter worth about $25,000. Crowley Wealth Management Inc. acquired a new stake in Hershey during the 4th quarter worth approximately $28,000. Grove Bank & Trust grew its holdings in 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 Hershey in the 4th quarter valued at approximately $29,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Hershey during the fourth quarter valued at $34,000. Institutional investors own 57.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Sanford C. Bernstein increased their price objective on Hershey from $147.00 to $155.00 and gave the company a "market perform" rating in a report on Friday. Bernstein Bank lowered their price objective on Hershey from $177.00 to $146.00 and set a "market perform" rating for the company in a research report on Wednesday, February 5th. DA Davidson cut their price objective on Hershey from $164.00 to $149.00 and set a "neutral" rating on the stock in a research note on Monday, February 10th. JPMorgan Chase & Co. decreased their target price on shares of Hershey from $171.00 to $151.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Finally, Barclays dropped their price target on shares of Hershey from $170.00 to $160.00 and set an "equal weight" rating on the stock in a research report on Monday, February 10th. Five research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $160.45.

Insider Buying and Selling at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $148.00, for a total value of $41,144.00. Following the transaction, the chief accounting officer now owns 2,682 shares in the company, valued at $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.34% of the company's stock.

Hershey Stock Down 2.4 %

Hershey stock traded down $4.03 during mid-day trading on Friday, reaching $163.10. The stock had a trading volume of 2,230,798 shares, compared to its average volume of 1,778,399. The firm has a market capitalization of $33.01 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 5.90 and a beta of 0.28. The Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $211.92. The stock's 50-day simple moving average is $168.70 and its 200-day simple moving average is $169.00. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96.

Hershey (NYSE:HSY - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.15. The company had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.81 billion. Hershey had a return on equity of 44.77% and a net margin of 19.83%. Hershey's quarterly revenue was down 13.8% compared to the same quarter last year. During the same period last year, the business earned $3.07 EPS. On average, sell-side analysts forecast that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 16th will be given a $1.37 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $5.48 annualized dividend and a yield of 3.36%. Hershey's payout ratio is 50.28%.

Hershey 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.