Public Employees Retirement System of Ohio Has $8.47 Million Stock Position in The Hershey Company (NYSE:HSY)

Public Employees Retirement System of Ohio cut its holdings in The Hershey Company (NYSE:HSY - Free Report) by 21.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,039 shares of the company's stock after selling 13,803 shares during the period. Public Employees Retirement System of Ohio's holdings in Hershey were worth $8,474,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Montag & Caldwell LLC bought a new position in Hershey during the 4th quarter worth approximately $25,000. Crowley Wealth Management Inc. purchased a new position in Hershey in the 4th quarter worth about $28,000. Mpwm Advisory Solutions LLC bought a new position in shares of Hershey in the 4th quarter worth approximately $28,000. Vision Financial Markets LLC bought a new position in shares of Hershey in the fourth quarter worth about $29,000. Finally, Lee Danner & Bass Inc. purchased a new stake in shares of Hershey during the fourth quarter worth about $34,000. Institutional investors own 57.96% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on HSY. Royal Bank of Canada dropped their price objective on shares of Hershey from $178.00 to $175.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Piper Sandler lowered Hershey from a "neutral" rating to an "underweight" rating and dropped their target price for the stock from $153.00 to $120.00 in a report on Friday, January 31st. Citigroup decreased their price objective on Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. UBS Group decreased their price target on Hershey from $175.00 to $170.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Finally, Morgan Stanley cut their price target on Hershey from $183.00 to $177.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Five equities research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. Based on data from MarketBeat, Hershey currently has a consensus rating of "Hold" and an average price target of $162.15.

Hershey Stock Down 1.5%

HSY traded down $2.31 during trading on Wednesday, reaching $155.92. The company had a trading volume of 1,248,391 shares, compared to its average volume of 1,786,645. The company has a market cap of $31.59 billion, a P/E ratio of 14.30, a PEG ratio of 5.90 and a beta of 0.32. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $208.03. The business's fifty day moving average price is $164.18 and its 200 day moving average price is $166.62. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64.

Hershey (NYSE:HSY - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.15. The business had revenue of $2.81 billion during the quarter, compared to analysts' expectations 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 period last year, the business earned $3.07 earnings per share. Equities analysts anticipate that The Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 16th will be given a dividend of $1.37 per share. The ex-dividend date is Friday, May 16th. This represents a $5.48 annualized dividend and a yield of 3.51%. Hershey's dividend payout ratio is 67.57%.

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.