The Hershey Company (NYSE:HSY) Shares Sold by Haverford Trust Co

Haverford Trust Co cut its holdings in The Hershey Company (NYSE:HSY) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,855 shares of the company’s stock after selling 184 shares during the quarter. Haverford Trust Co’s holdings in Hershey were worth $1,161,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Raymond James Financial Inc. acquired a new position in Hershey during the fourth quarter worth $80,978,000. Principal Financial Group Inc. increased its stake in shares of Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after purchasing an additional 389,404 shares in the last quarter. State Street Corp lifted its stake in Hershey by 5.8% in the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock valued at $1,348,127,000 after buying an additional 386,670 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Hershey by 5.6% in the 4th 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. Finally, KLP Kapitalforvaltning AS purchased a new stake in Hershey during the 4th quarter worth approximately $21,439,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HSY has been the topic of several research reports. Piper Sandler downgraded Hershey from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $153.00 to $120.00 in a research report on Friday, January 31st. Jefferies Financial Group decreased their price objective on Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a report on Tuesday, January 21st. TD Cowen dropped their target price on shares of Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus decreased their price target on shares of Hershey from $170.00 to $160.00 and set a “hold” rating on the stock in a research note on Friday, February 7th. Finally, Wells Fargo & Company upped their price objective on shares of Hershey from $125.00 to $132.00 and gave the company an “underweight” rating in a research note on Friday, March 14th. Five analysts have rated the stock with a sell rating and seventeen have issued a hold rating to the company. According to data from MarketBeat, Hershey currently has a consensus rating of “Hold” and a consensus price target of $164.67.

Hershey Stock Performance

Shares of HSY stock opened at $168.30 on Tuesday. 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 firm has a market cap of $34.07 billion, a P/E ratio of 15.44, a P/E/G ratio of 5.90 and a beta of 0.32. The firm’s 50 day moving average price is $162.83 and its 200-day moving average price is $174.59. The Hershey Company has a one year low of $140.13 and a one year high of $211.92.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. As a group, equities 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 was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were paid a dividend of $1.37 per share. The ex-dividend date was Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a yield of 3.26%. Hershey’s dividend payout ratio (DPR) is presently 50.28%.

Insider Transactions at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of the company’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 sale, the chief accounting officer now directly owns 2,682 shares of the company’s stock, valued at $396,936. This represents a 9.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

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.