The Hershey Company (NYSE:HSY) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC reduced its stake in The Hershey Company (NYSE:HSY - Free Report) by 13.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 285,655 shares of the company's stock after selling 46,232 shares during the quarter. AQR Capital Management LLC owned 0.14% of Hershey worth $48,190,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in HSY. Montag & Caldwell LLC acquired a new position in Hershey during the fourth quarter worth $25,000. Crowley Wealth Management Inc. acquired a new position in Hershey during the 4th quarter worth about $28,000. Vision Financial Markets LLC purchased a new position in Hershey during the 4th quarter valued at about $29,000. Grove Bank & Trust grew its position in Hershey by 248.0% in the 4th quarter. Grove Bank & Trust now owns 174 shares of the company's stock valued at $29,000 after acquiring an additional 124 shares in the last quarter. Finally, Lee Danner & Bass Inc. purchased a new stake in Hershey during the fourth quarter worth about $34,000. Hedge funds and other institutional investors own 57.96% of the company's stock.

Insider Buying and Selling at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction of $41,144.00. Following the transaction, the chief accounting officer now owns 2,682 shares of the company's stock, valued at $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

HSY has been the subject of a number of research reports. Bernstein Bank dropped their price objective on shares of Hershey from $177.00 to $146.00 and set a "market perform" rating for the company in a report on Wednesday, February 5th. Piper Sandler downgraded shares of Hershey from a "neutral" rating to an "underweight" rating and dropped their price target for the stock from $153.00 to $120.00 in a research note on Friday, January 31st. JPMorgan Chase & Co. reduced their price objective on Hershey from $171.00 to $151.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Barclays lowered their target price on Hershey from $170.00 to $160.00 and set an "equal weight" rating for the company in a research note on Monday, February 10th. Finally, DA Davidson reduced their price target on Hershey from $164.00 to $149.00 and set a "neutral" rating on the stock in a research report on Monday, February 10th. Five investment analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $163.35.

Hershey Stock Down 0.2 %

Hershey stock opened at $166.89 on Friday. The company has a market capitalization of $33.78 billion, a P/E ratio of 15.31, a PEG ratio of 5.90 and a beta of 0.28. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96. The Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $211.92. The stock has a 50-day simple moving average of $169.00 and a 200-day simple moving average of $169.15.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.81 billion. Hershey had a return on equity of 44.77% and a net margin of 19.83%. The firm's revenue for the quarter was down 13.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.07 earnings per share. Equities research analysts expect that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 16th will be given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.28%. Hershey's payout ratio is currently 50.28%.

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.

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