Sterling Capital Management LLC Sells 298,330 Shares of The Hershey Company (NYSE:HSY)

Sterling Capital Management LLC lowered its holdings in shares of The Hershey Company (NYSE:HSY - Free Report) by 34.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 576,438 shares of the company's stock after selling 298,330 shares during the quarter. Hershey accounts for about 1.3% of Sterling Capital Management LLC's portfolio, making the stock its 18th biggest position. Sterling Capital Management LLC owned about 0.28% of Hershey worth $97,620,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of HSY. Crowley Wealth Management Inc. bought a new position in Hershey in the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC acquired a new position in Hershey in the 4th quarter worth $29,000. Grove Bank & Trust increased its holdings in Hershey by 248.0% during the 4th quarter. Grove Bank & Trust now owns 174 shares of the company's stock worth $29,000 after purchasing an additional 124 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in shares of Hershey in the 4th quarter valued at about $34,000. Finally, Covestor Ltd lifted its holdings in shares of Hershey by 42.5% in the fourth quarter. Covestor Ltd now owns 238 shares of the company's stock valued at $40,000 after purchasing an additional 71 shares in the last quarter. Institutional investors own 57.96% of the company's stock.

Analyst Ratings Changes

HSY has been the subject of a number of research reports. UBS Group decreased their price objective on Hershey from $189.00 to $163.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Mizuho decreased their price target on shares of Hershey from $170.00 to $140.00 in a research note on Wednesday, February 5th. Wells Fargo & Company boosted their price objective on shares of Hershey from $125.00 to $132.00 and gave the stock an "underweight" rating in a research report on Friday, March 14th. Morgan Stanley began coverage on shares of Hershey in a research report on Monday, March 24th. They issued an "equal weight" rating and a $183.00 target price for the company. Finally, DA Davidson cut their price target on shares of Hershey from $164.00 to $149.00 and set a "neutral" rating on the stock in a research report on Monday, February 10th. Five analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $163.05.

Hershey Stock Performance

Shares of NYSE HSY traded down $1.93 during trading hours on Wednesday, reaching $166.02. 367,486 shares of the stock were exchanged, compared to its average volume of 1,943,131. The stock's fifty day simple moving average is $168.19 and its 200 day simple moving average is $170.98. The firm has a market capitalization of $33.60 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 5.90 and a beta of 0.28. The Hershey Company has a 52 week low of $140.13 and a 52 week high of $211.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96.

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

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.30%. The ex-dividend date was Friday, February 14th. Hershey's dividend payout ratio is currently 50.28%.

Insider Activity

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the business'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 completion of the transaction, the chief accounting officer now directly owns 2,682 shares in the company, valued at $396,936. The trade was a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.28% of the company's stock.

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.