The Hershey Company (NYSE:HSY) Shares Sold by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC trimmed its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 30.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,771 shares of the company's stock after selling 2,998 shares during the period. Prosperity Consulting Group LLC's holdings in Hershey were worth $1,147,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Montag & Caldwell LLC bought a new position in shares of Hershey during the fourth quarter valued at approximately $25,000. Crowley Wealth Management Inc. purchased a new stake in Hershey during the fourth quarter valued at approximately $28,000. Grove Bank & Trust lifted its position in Hershey by 248.0% during the fourth quarter. Grove Bank & Trust now owns 174 shares of the company's stock valued at $29,000 after acquiring an additional 124 shares during the last quarter. Vision Financial Markets LLC purchased a new stake in Hershey during the fourth quarter valued at approximately $29,000. Finally, Lee Danner & Bass Inc. purchased a new stake in Hershey during the fourth quarter valued at approximately $34,000. 57.96% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on HSY. Citigroup decreased their target price on shares of Hershey from $173.00 to $165.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Jefferies Financial Group decreased their price target on shares of Hershey from $150.00 to $134.00 and set an "underperform" rating for the company in a report on Tuesday, January 21st. Stifel Nicolaus decreased their price target on shares of Hershey from $170.00 to $160.00 and set a "hold" rating for the company in a report on Friday, February 7th. TD Cowen decreased their price target on shares of Hershey from $190.00 to $172.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Finally, Piper Sandler cut shares of Hershey from a "neutral" rating to an "underweight" rating and decreased their price target for the stock from $153.00 to $120.00 in a report on Friday, January 31st. Five analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $163.35.

Insider Transactions at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total transaction of $41,144.00. Following the sale, the chief accounting officer now directly owns 2,682 shares in the company, valued at approximately $396,936. This represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.34% of the company's stock.

Hershey Price Performance

Shares of NYSE:HSY traded up $2.19 during midday trading on Wednesday, hitting $167.26. The company had a trading volume of 3,463,471 shares, compared to its average volume of 1,775,569. The Hershey Company has a twelve month low of $140.13 and a twelve month high of $211.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. The stock has a market cap of $33.86 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 5.90 and a beta of 0.28. The business's 50-day simple moving average is $169.34 and its 200-day simple moving average is $169.30.

Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, beating the consensus estimate of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. On average, research analysts predict that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were given a dividend of $1.37 per share. The ex-dividend date was Friday, February 14th. This represents a $5.48 annualized dividend and a dividend yield of 3.28%. Hershey's dividend payout ratio is currently 50.28%.

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.