Los Angeles Capital Management LLC cut its position in The Hershey Company (NYSE:HSY - Free Report) by 91.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,418 shares of the company's stock after selling 256,371 shares during the quarter. Los Angeles Capital Management LLC's holdings in Hershey were worth $4,366,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in HSY. Costello Asset Management INC purchased a new stake in Hershey during the 3rd quarter worth approximately $25,000. BKM Wealth Management LLC acquired a new position in shares of Hershey in the 4th quarter valued at $26,000. First Financial Corp IN purchased a new position in Hershey in the 4th quarter worth $29,000. Highlander Capital Management LLC raised its stake in Hershey by 125.3% in the 4th quarter. Highlander Capital Management LLC now owns 169 shares of the company's stock worth $32,000 after acquiring an additional 94 shares during the last quarter. Finally, Rakuten Securities Inc. purchased a new stake in Hershey during the 4th quarter valued at about $32,000. 57.96% of the stock is currently owned by institutional investors.
Insider Transactions at Hershey
In other news, CFO Steven E. Voskuil sold 1,500 shares of the firm's stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $185.83, for a total value of $278,745.00. Following the transaction, the chief financial officer now directly owns 38,728 shares of the company's stock, valued at $7,196,824.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on the stock. Piper Sandler reduced their price target on shares of Hershey from $200.00 to $179.00 and set a "neutral" rating for the company in a research report on Monday, April 15th. Royal Bank of Canada restated a "sector perform" rating and set a $213.00 target price on shares of Hershey in a research report on Friday, March 15th. Wells Fargo & Company raised their price target on shares of Hershey from $200.00 to $205.00 and gave the company an "equal weight" rating in a research report on Monday. Citigroup dropped their price target on shares of Hershey from $213.00 to $199.00 and set a "neutral" rating on the stock in a research report on Thursday, April 11th. Finally, Edward Jones restated a "hold" rating on shares of Hershey in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Hershey presently has an average rating of "Hold" and a consensus target price of $213.06.
Check Out Our Latest Research Report on HSY
Hershey Price Performance
Shares of NYSE:HSY traded down $1.43 during midday trading on Monday, hitting $196.49. The company's stock had a trading volume of 1,766,433 shares, compared to its average volume of 1,988,816. The business's 50 day simple moving average is $192.08 and its 200 day simple moving average is $190.80. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.64 and a current ratio of 0.97. The company has a market cap of $40.07 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 3.04 and a beta of 0.33. The Hershey Company has a 12-month low of $178.82 and a 12-month high of $275.89.
Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings results on Friday, May 3rd. The company reported $3.07 earnings per share for the quarter, topping the consensus estimate of $2.74 by $0.33. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.11 billion. Hershey had a net margin of 18.13% and a return on equity of 50.15%. The company's revenue for the quarter was up 8.9% on a year-over-year basis. During the same period last year, the firm posted $2.96 earnings per share. On average, analysts forecast that The Hershey Company will post 9.6 EPS for the current year.
Hershey Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 17th will be paid a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, May 16th. Hershey's dividend payout ratio is currently 54.31%.
About Hershey
(
Free Report)
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.
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