Desjardins Global Asset Management Inc. Sells 135,842 Shares of The Hershey Company (NYSE:HSY)

Desjardins Global Asset Management Inc. lowered its position in The Hershey Company (NYSE:HSY - Free Report) by 89.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,919 shares of the company's stock after selling 135,842 shares during the period. Desjardins Global Asset Management Inc.'s holdings in Hershey were worth $2,968,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. PFS Investments Inc. grew its stake in Hershey by 4.1% during the 4th quarter. PFS Investments Inc. now owns 1,159 shares of the company's stock valued at $268,000 after acquiring an additional 46 shares in the last quarter. Cassia Capital Partners LLC grew its stake in Hershey by 3.2% during the 3rd quarter. Cassia Capital Partners LLC now owns 1,675 shares of the company's stock valued at $335,000 after acquiring an additional 52 shares in the last quarter. Marshall Financial Group LLC grew its stake in Hershey by 1.4% during the 3rd quarter. Marshall Financial Group LLC now owns 3,960 shares of the company's stock valued at $792,000 after acquiring an additional 53 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in Hershey by 7.7% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 754 shares of the company's stock valued at $141,000 after acquiring an additional 54 shares in the last quarter. Finally, Arthur M. Cohen & Associates LLC grew its stake in Hershey by 0.4% during the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 14,261 shares of the company's stock valued at $2,853,000 after acquiring an additional 55 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company's stock.

Insider Activity at Hershey

In related news, CAO Jennifer Mccalman sold 453 shares of the 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 transaction, the chief accounting officer now directly owns 1,862 shares of the company's stock, valued at approximately $369,681.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Hershey news, CAO Jennifer Mccalman sold 453 shares of the firm's stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $198.54, for a total transaction of $89,938.62. Following the transaction, the chief accounting officer now directly owns 1,862 shares of the company's stock, valued at approximately $369,681.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Steven E. Voskuil sold 1,500 shares of the firm's stock in a transaction on Monday, March 25th. The stock was sold at an average price of $197.90, for a total transaction of $296,850.00. Following the transaction, the chief financial officer now directly owns 40,228 shares in the company, valued at $7,961,121.20. The disclosure for this sale can be found here. Insiders have sold 5,518 shares of company stock valued at $1,066,414 in the last ninety days. Insiders own 0.29% of the company's stock.

Hershey Stock Up 0.4 %

Shares of HSY traded up $0.75 during midday trading on Tuesday, reaching $183.32. The stock had a trading volume of 1,620,937 shares, compared to its average volume of 1,995,545. The Hershey Company has a 1-year low of $178.82 and a 1-year high of $276.88. The company's fifty day simple moving average is $193.10 and its two-hundred day simple moving average is $191.17. The company has a market cap of $37.39 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 2.85 and a beta of 0.34. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.97 and a quick ratio of 0.52.

Hershey (NYSE:HSY - Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The company reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.95 by $0.07. Hershey had a net margin of 16.67% and a return on equity of 51.79%. The business had revenue of $2.66 billion for the quarter, compared to analyst estimates of $2.72 billion. During the same period last year, the business earned $2.02 EPS. The company's revenue was up .2% on a year-over-year basis. Equities research analysts expect that The Hershey Company will post 9.6 earnings per share for the current year.

Hershey Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.99%. This is a positive change from Hershey's previous quarterly dividend of $1.19. The ex-dividend date of this dividend was Friday, February 16th. Hershey's dividend payout ratio (DPR) is presently 60.55%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Citigroup dropped their price objective on shares of Hershey from $213.00 to $199.00 and set a "neutral" rating for the company in a research note on Thursday, April 11th. Stifel Nicolaus increased their price target on shares of Hershey from $195.00 to $205.00 and gave the company a "hold" rating in a research note on Thursday, January 25th. Piper Sandler dropped their price target on shares of Hershey from $200.00 to $179.00 and set a "neutral" rating for the company in a research note on Monday. Barclays increased their price target on shares of Hershey from $200.00 to $210.00 and gave the company an "equal weight" rating in a research note on Monday, February 12th. Finally, Morgan Stanley cut shares of Hershey from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $191.00 to $183.00 in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $223.81.

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.