Crestline Management LP Lowers Stock Holdings in The Hershey Company (NYSE:HSY)

Crestline Management LP reduced its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 93.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,692 shares of the company's stock after selling 40,530 shares during the period. Crestline Management LP's holdings in Hershey were worth $456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of HSY. Montag & Caldwell LLC acquired a new stake in shares of Hershey in the fourth quarter valued at $25,000. Crowley Wealth Management Inc. acquired a new stake in Hershey in the 4th quarter valued at about $28,000. Grove Bank & Trust raised its position in Hershey by 248.0% in the 4th quarter. Grove Bank & Trust now owns 174 shares of the company's stock valued at $29,000 after purchasing an additional 124 shares in the last quarter. Vision Financial Markets LLC purchased a new position in shares of Hershey in the 4th quarter valued at about $29,000. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Hershey during the fourth quarter worth about $34,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Stock Performance

Shares of NYSE:HSY traded down $1.36 during trading on Wednesday, reaching $161.94. The company had a trading volume of 1,461,385 shares, compared to its average volume of 1,769,040. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. The firm has a market capitalization of $32.78 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32. The stock's fifty day moving average price is $167.69 and its 200 day moving average price is $168.16. The Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $209.65.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $2.09 EPS for the quarter, topping analysts' consensus estimates of $1.94 by $0.15. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.81 billion. Hershey had a net margin of 19.83% and a return on equity of 44.77%. The firm's revenue was down 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.07 earnings per share. As a group, equities research analysts predict that The Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be paid a dividend of $1.37 per share. The ex-dividend date is Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.38%. Hershey's dividend payout ratio (DPR) is 67.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on HSY shares. Morgan Stanley dropped their price objective on shares of Hershey from $183.00 to $177.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. JPMorgan Chase & Co. dropped their target price on Hershey from $171.00 to $151.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Jefferies Financial Group dropped their target price on Hershey from $150.00 to $134.00 and set an "underperform" rating on the stock in a report on Tuesday, January 21st. Citigroup dropped their target price on Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, Royal Bank of Canada lowered their price target on Hershey from $178.00 to $175.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Five research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $161.40.

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.