Tobam Lowers Position in The Hershey Company (NYSE:HSY)

Tobam trimmed its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 101,887 shares of the company's stock after selling 8,686 shares during the period. Hershey accounts for approximately 1.7% of Tobam's portfolio, making the stock its 24th largest holding. Tobam's holdings in Hershey were worth $18,996,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. purchased a new stake in Hershey in the 3rd quarter worth about $25,000. Costello Asset Management INC bought a new stake in shares of Hershey in the third quarter valued at approximately $25,000. Zions Bancorporation N.A. raised its position in shares of Hershey by 121.3% in the first quarter. Zions Bancorporation N.A. now owns 135 shares of the company's stock valued at $29,000 after purchasing an additional 74 shares during the period. BKM Wealth Management LLC purchased a new stake in shares of Hershey during the 4th quarter valued at approximately $26,000. Finally, Indiana Trust & Investment Management CO bought a new position in Hershey in the 3rd quarter worth approximately $30,000. 57.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $188.97, for a total transaction of $283,455.00. Following the completion of the sale, the chief financial officer now owns 29,816 shares of the company's stock, valued at $5,634,329.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Hershey news, CAO Jennifer Mccalman sold 453 shares of the company's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $198.54, for a total value of $89,938.62. Following the sale, the chief accounting officer now directly owns 1,862 shares of the company's stock, valued at $369,681.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $188.97, for a total value of $283,455.00. Following the sale, the chief financial officer now directly owns 29,816 shares in the company, valued at $5,634,329.52. The disclosure for this sale can be found here. Insiders sold 5,518 shares of company stock worth $1,066,414 in the last 90 days. Insiders own 0.34% of the company's stock.

Hershey Stock Up 0.2 %

Shares of HSY stock traded up $0.39 during trading hours on Tuesday, reaching $194.58. 1,350,660 shares of the company's stock were exchanged, compared to its average volume of 2,023,088. The Hershey Company has a 1 year low of $178.82 and a 1 year high of $276.88. The company has a current ratio of 0.97, a quick ratio of 0.52 and a debt-to-equity ratio of 0.92. The stock has a market cap of $39.68 billion, a PE ratio of 21.50, a PEG ratio of 2.97 and a beta of 0.34. The stock's fifty day moving average price is $194.06 and its two-hundred day moving average price is $191.75.

Hershey (NYSE:HSY - Get Free Report) last released its earnings results on Thursday, February 8th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.07. The company had revenue of $2.66 billion for the quarter, compared to the consensus estimate of $2.72 billion. Hershey had a net margin of 16.67% and a return on equity of 51.79%. Hershey's revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.02 EPS. Research analysts predict that The Hershey Company will post 9.6 EPS for the current year.

Hershey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 20th were given a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 2.82%. This is an increase from Hershey's previous quarterly dividend of $1.19. The ex-dividend date was Friday, February 16th. Hershey's dividend payout ratio is presently 60.55%.

Wall Street Analysts Forecast Growth

HSY has been the topic of several recent research reports. Barclays increased their target price on Hershey from $200.00 to $210.00 and gave the stock an "equal weight" rating in a research report on Monday, February 12th. Bank of America downgraded Hershey from a "buy" rating to a "neutral" rating and cut their target price for the stock from $250.00 to $200.00 in a research note on Friday, December 15th. Morgan Stanley cut Hershey from an "equal weight" rating to an "underweight" rating and decreased their price target for the company from $191.00 to $183.00 in a research report on Monday, February 12th. JPMorgan Chase & Co. boosted their price objective on shares of Hershey from $185.00 to $193.00 and gave the company a "neutral" rating in a research note on Friday, February 9th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $213.00 target price on shares of Hershey in a research note on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $225.48.

About Hershey

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.