New York State Common Retirement Fund Reduces Holdings in The Hershey Company (NYSE:HSY)

New York State Common Retirement Fund lessened its holdings in The Hershey Company (NYSE:HSY) by 5.9% during the 4th quarter, Holdings Channel reports. The firm owned 139,656 shares of the company’s stock after selling 8,700 shares during the quarter. New York State Common Retirement Fund’s holdings in Hershey were worth $23,651,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of HSY. Ashton Thomas Securities LLC purchased a new stake in Hershey in the 3rd quarter valued at approximately $25,000. Grove Bank & Trust raised its holdings in shares of Hershey by 248.0% in the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after acquiring an additional 124 shares during the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of Hershey in the third quarter valued at $46,000. ST Germain D J Co. Inc. boosted its stake in shares of Hershey by 61.7% during the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock valued at $44,000 after acquiring an additional 100 shares during the last quarter. Finally, City State Bank increased its position in Hershey by 210.0% during the 4th quarter. City State Bank now owns 310 shares of the company’s stock worth $52,000 after purchasing an additional 210 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the transaction, the chief accounting officer now owns 2,682 shares in the company, valued at $396,936. The trade was a 9.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HSY. Bank of America reissued a “neutral” rating and issued a $180.00 target price on shares of Hershey in a research note on Thursday, December 12th. Citigroup raised shares of Hershey from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $159.00 to $154.00 in a research note on Friday, February 7th. Mizuho decreased their target price on shares of Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. Bernstein Bank cut their price target on Hershey from $177.00 to $146.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. Finally, Wells Fargo & Company decreased their price objective on Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. Five analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $164.15.

Hershey Trading Up 4.2 %

NYSE:HSY opened at $173.03 on Friday. The business’s 50-day moving average is $160.67 and its two-hundred day moving average is $178.37. The firm has a market capitalization of $35.01 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 5.82 and a beta of 0.37. The Hershey Company has a 12 month low of $140.13 and a 12 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.

Hershey (NYSE:HSY) last announced its 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%. Research analysts predict that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 17th will be paid a $1.37 dividend. The ex-dividend date is Friday, February 14th. This represents a $5.48 annualized dividend and a dividend yield of 3.17%. Hershey’s dividend payout ratio (DPR) is presently 50.28%.

Hershey Company 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.