Modera Wealth Management LLC Cuts Position in The Hershey Company (NYSE:HSY)

Modera Wealth Management LLC lowered its holdings in shares of The Hershey Company (NYSE:HSY) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,854 shares of the company’s stock after selling 291 shares during the quarter. Modera Wealth Management LLC’s holdings in Hershey were worth $1,330,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Ashton Thomas Securities LLC acquired a new stake in Hershey in the 3rd quarter valued at $25,000. Grove Bank & Trust lifted its holdings 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 purchasing an additional 124 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Hershey in the third quarter valued at about $46,000. ST Germain D J Co. Inc. increased 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 worth $44,000 after purchasing an additional 100 shares in the last quarter. Finally, City State Bank raised its position in shares of 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 during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was 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. 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 at the SEC website. 0.34% of the stock is owned by insiders.

Hershey Price Performance

NYSE:HSY opened at $178.77 on Tuesday. The Hershey Company has a 52 week low of $140.13 and a 52 week high of $211.92. The stock’s fifty day moving average is $160.77 and its two-hundred day moving average is $176.87. The company has a market capitalization of $36.19 billion, a P/E ratio of 16.40, a P/E/G ratio of 5.90 and a beta of 0.37. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. Equities analysts expect that The Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 17th will be given a dividend of $1.37 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.07%. Hershey’s payout ratio is currently 50.28%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HSY. Mizuho lowered their price objective on Hershey from $170.00 to $140.00 in a report on Wednesday, February 5th. Wells Fargo & Company lowered their price target on Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $178.00 price objective on shares of Hershey in a research note on Monday, February 3rd. Jefferies Financial Group lowered their target price on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 21st. Finally, Bank of America reiterated a “neutral” rating and issued a $180.00 target price on shares of Hershey in a research report on Thursday, December 12th. Five research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. According to MarketBeat.com, Hershey presently has a consensus rating of “Hold” and a consensus target price of $164.15.

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.