Silvercrest Asset Management Group LLC Has $41.47 Million Position in The Hershey Company (NYSE:HSY)

Silvercrest Asset Management Group LLC trimmed its stake in The Hershey Company (NYSE:HSY - Free Report) by 9.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 244,877 shares of the company's stock after selling 24,659 shares during the quarter. Silvercrest Asset Management Group LLC owned approximately 0.12% of Hershey worth $41,470,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HSY. Capital International Investors raised its holdings in shares of Hershey by 31.4% during the 4th quarter. Capital International Investors now owns 12,460,147 shares of the company's stock valued at $2,110,126,000 after purchasing an additional 2,980,997 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Hershey during the fourth quarter worth $80,978,000. Charles Schwab Investment Management Inc. raised its holdings in Hershey by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company's stock valued at $785,003,000 after buying an additional 247,675 shares in the last quarter. Freestone Grove Partners LP acquired a new stake in shares of Hershey in the fourth quarter worth about $27,902,000. Finally, Northern Trust Corp boosted its stake in shares of Hershey by 10.8% during the 4th quarter. Northern Trust Corp now owns 1,578,957 shares of the company's stock worth $267,396,000 after acquiring an additional 154,238 shares in the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Stock Performance

HSY traded down $0.82 during trading on Tuesday, hitting $155.73. The stock had a trading volume of 1,679,401 shares, compared to its average volume of 1,774,843. The company has a 50 day moving average price of $166.08 and a 200-day moving average price of $167.54. The firm has a market cap of $31.52 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 5.90 and a beta of 0.32. The Hershey Company has a one year low of $140.13 and a one year high of $209.65. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64.

Hershey (NYSE:HSY - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $2.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.15. The firm had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.81 billion. Hershey had a return on equity of 44.77% and a net margin of 19.83%. The company's revenue was down 13.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.07 EPS. As a group, research analysts predict that The Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be issued a dividend of $1.37 per share. The ex-dividend date is Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.52%. Hershey's dividend payout ratio (DPR) is currently 67.57%.

Analyst Upgrades and Downgrades

HSY has been the topic of a number of analyst reports. Piper Sandler lowered Hershey from a "neutral" rating to an "underweight" rating and lowered their price objective for the company from $153.00 to $120.00 in a report on Friday, January 31st. DA Davidson upped their target price on Hershey from $162.00 to $163.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. UBS Group cut their target price on Hershey from $175.00 to $170.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Morgan Stanley lowered their price target on Hershey from $183.00 to $177.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Finally, Mizuho cut their price objective on Hershey from $170.00 to $140.00 in a report on Wednesday, February 5th. Five equities research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $161.40.

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.