Lazard Asset Management LLC Sells 4,936 Shares of The Hershey Company (NYSE:HSY)

Lazard Asset Management LLC lessened its stake in shares of The Hershey Company (NYSE:HSY - Free Report) by 50.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,762 shares of the company's stock after selling 4,936 shares during the period. Lazard Asset Management LLC's holdings in Hershey were worth $805,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its position in shares of Hershey by 1.2% in the fourth quarter. Janus Henderson Group PLC now owns 203,238 shares of the company's stock worth $34,419,000 after purchasing an additional 2,401 shares during the period. Gen Wealth Partners Inc grew its stake in Hershey by 28.4% during the fourth quarter. Gen Wealth Partners Inc now owns 3,714 shares of the company's stock worth $629,000 after buying an additional 822 shares in the last quarter. Gotham Asset Management LLC increased its holdings in Hershey by 5.0% in the 4th quarter. Gotham Asset Management LLC now owns 3,019 shares of the company's stock valued at $511,000 after buying an additional 145 shares during the period. Focus Partners Wealth raised its position in shares of Hershey by 76.4% in the 4th quarter. Focus Partners Wealth now owns 207,089 shares of the company's stock valued at $35,108,000 after buying an additional 89,720 shares in the last quarter. Finally, Eisler Capital Management Ltd. bought a new stake in shares of Hershey during the 4th quarter worth approximately $1,727,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Trading Up 1.1%

Shares of NYSE:HSY traded up $1.65 during mid-day trading on Monday, reaching $155.51. 1,907,607 shares of the company's stock were exchanged, compared to its average volume of 1,786,878. 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 Hershey Company has a twelve month low of $140.13 and a twelve month high of $208.03. The firm has a market capitalization of $31.51 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 5.90 and a beta of 0.32. The business's fifty day moving average price is $164.53 and its 200-day moving average price is $166.76.

Hershey (NYSE:HSY - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $2.09 EPS for the quarter, topping the consensus estimate 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 return on equity of 44.77% and a net margin of 19.83%. The business's quarterly revenue was down 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.07 EPS. On average, research analysts predict that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 16th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Friday, May 16th. Hershey's payout ratio is presently 67.57%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Sanford C. Bernstein lifted their price objective on shares of Hershey from $147.00 to $155.00 and gave the company a "market perform" rating in a research note on Friday, May 2nd. Piper Sandler downgraded Hershey from a "neutral" rating to an "underweight" rating and reduced their target price for the company from $153.00 to $120.00 in a report on Friday, January 31st. Bernstein Bank lowered their price target on Hershey from $177.00 to $146.00 and set a "market perform" rating for the company in a report on Wednesday, February 5th. Royal Bank of Canada dropped their price objective on Hershey from $178.00 to $175.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Finally, DA Davidson lifted their target price on Hershey from $162.00 to $163.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Five research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price 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.