Two Sigma Investments LP Reduces Stock Holdings in The Hershey Company (NYSE:HSY)

Two Sigma Investments LP lowered its stake in The Hershey Company (NYSE:HSY - Free Report) by 36.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,990 shares of the company's stock after selling 5,210 shares during the period. Two Sigma Investments LP's holdings in Hershey were worth $1,522,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of HSY. Elevate Capital Advisors LLC acquired a new stake in shares of Hershey in the 4th quarter valued at $1,939,000. Ethos Financial Group LLC boosted its holdings in shares of Hershey by 59.8% during the 4th quarter. Ethos Financial Group LLC now owns 3,962 shares of the company's stock valued at $671,000 after acquiring an additional 1,483 shares in the last quarter. DJE Kapital AG acquired a new stake in shares of Hershey during the 4th quarter valued at $1,040,000. Old North State Wealth Management LLC acquired a new stake in shares of Hershey during the 4th quarter valued at $513,000. Finally, Beacon Financial Group acquired a new stake in shares of Hershey during the 4th quarter valued at $367,000. Institutional investors own 57.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HSY. Sanford C. Bernstein raised their price objective on Hershey from $147.00 to $155.00 and gave the company a "market perform" rating in a report on Friday, May 2nd. Barclays raised their price objective on Hershey from $160.00 to $165.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. Morgan Stanley cut their price objective on Hershey from $183.00 to $177.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Royal Bank of Canada lowered their target price 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 raised their target price on Hershey from $162.00 to $163.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Five equities 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 currently has an average rating of "Hold" and a consensus price target of $158.84.

Hershey Stock Down 0.6%

Hershey stock traded down $0.95 during midday trading on Friday, reaching $161.83. The stock had a trading volume of 1,112,186 shares, compared to its average volume of 1,783,158. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $208.03. The company has a market capitalization of $32.79 billion, a P/E ratio of 14.85, a PEG ratio of 5.90 and a beta of 0.29. The company has a fifty day moving average price of $163.17 and a two-hundred day moving average price of $165.92. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.15. The business had revenue of $2.81 billion during 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 company's quarterly revenue was down 13.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.07 EPS. As a group, equities analysts expect that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 16th will be paid a dividend of $1.37 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a yield of 3.39%. Hershey's dividend payout ratio (DPR) is currently 67.57%.

Insider Buying and Selling at Hershey

In other news, CAO Jennifer Mccalman sold 974 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value of $153,025.14. Following the completion of the transaction, the chief accounting officer now directly owns 2,994 shares of the company's stock, valued at $470,387.34. This represents a 24.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michele Buck sold 31,210 shares of Hershey stock in a transaction on Friday, May 30th. The stock was sold at an average price of $160.80, for a total value of $5,018,568.00. Following the sale, the chief executive officer now owns 193,624 shares in the company, valued at $31,134,739.20. The trade was a 13.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company's stock.

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.