Signet Financial Management LLC Trims Stock Holdings in The Hershey Company (NYSE:HSY)

Signet Financial Management LLC decreased its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 37.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,106 shares of the company's stock after selling 4,753 shares during the quarter. Signet Financial Management LLC's holdings in Hershey were worth $1,511,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Hershey in the 4th quarter valued at approximately $411,828,000. Nordea Investment Management AB lifted its holdings in Hershey by 143.7% during the 3rd quarter. Nordea Investment Management AB now owns 2,465,403 shares of the company's stock worth $496,039,000 after buying an additional 1,453,819 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Hershey by 2,693.0% during the first quarter. Wellington Management Group LLP now owns 1,094,755 shares of the company's stock worth $237,156,000 after purchasing an additional 1,055,559 shares during the period. Morgan Stanley increased its holdings in shares of Hershey by 57.2% in the fourth quarter. Morgan Stanley now owns 2,648,666 shares of the company's stock worth $613,352,000 after acquiring an additional 964,019 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Hershey by 36.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,378,426 shares of the company's stock valued at $319,202,000 after purchasing an additional 369,940 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company's stock.

Hershey Trading Down 0.5 %

NYSE HSY traded down $0.86 during trading on Wednesday, hitting $182.45. The company had a trading volume of 1,735,851 shares, compared to its average volume of 1,992,040. 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 Hershey Company has a one year low of $178.82 and a one year high of $276.88. The company has a market cap of $37.21 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 2.80 and a beta of 0.34. The company's fifty day moving average is $192.87 and its 200-day moving average is $191.11.

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 analysts' consensus estimates of $1.95 by $0.07. The firm 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%. The company's revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.02 EPS. On average, sell-side analysts predict 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. Investors of record on Tuesday, February 20th were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.00%. This is an increase 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 is 60.55%.

Analyst Ratings Changes

HSY has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of Hershey from $200.00 to $210.00 and gave the company an "equal weight" rating in a report on Monday, February 12th. BNP Paribas lowered shares of Hershey from an "outperform" rating to a "neutral" rating and set a $208.00 price objective on the stock. in a research note on Tuesday, March 26th. JPMorgan Chase & Co. lifted their price objective on shares of Hershey from $185.00 to $193.00 and gave the stock a "neutral" rating in a research report on Friday, February 9th. Citigroup reduced their target price 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. Finally, Piper Sandler reduced their target price on shares of Hershey from $200.00 to $179.00 and set a "neutral" rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $223.33.

Insider Activity at Hershey

In related news, CAO Jennifer Mccalman sold 453 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $198.54, for a total transaction of $89,938.62. Following the sale, 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 accessible through the SEC website. In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the company's stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $188.97, for a total transaction of $283,455.00. Following the transaction, the chief financial officer now owns 29,816 shares in the company, valued at approximately $5,634,329.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jennifer Mccalman sold 453 shares of the company's stock in a transaction dated 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 owns 1,862 shares in the company, valued at approximately $369,681.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,518 shares of company stock valued at $1,066,414. 0.29% of the stock is owned by insiders.

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.