Concurrent Investment Advisors LLC Sells 1,523 Shares of The Hershey Company (NYSE:HSY)

Concurrent Investment Advisors LLC trimmed its stake in The Hershey Company (NYSE:HSY) by 14.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,333 shares of the company’s stock after selling 1,523 shares during the period. Concurrent Investment Advisors LLC’s holdings in Hershey were worth $1,581,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of HSY. Principal Financial Group Inc. increased its position in shares of Hershey by 66.7% in 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 during the last quarter. State Street Corp increased its position in shares of Hershey by 5.8% in the third quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after purchasing an additional 386,670 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Hershey by 31.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company’s stock valued at $112,491,000 after acquiring an additional 139,831 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Hershey by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock valued at $841,476,000 after acquiring an additional 109,336 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Hershey by 95.4% during the third quarter. Franklin Resources Inc. now owns 218,055 shares of the company’s stock valued at $40,558,000 after acquiring an additional 106,450 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors.

Hershey Stock Performance

Shares of HSY stock opened at $173.03 on Friday. The stock has a fifty day moving average of $160.47 and a 200 day moving average of $178.21. The Hershey Company has a 52 week low of $140.13 and a 52 week high of $211.92. The firm has a market capitalization of $35.01 billion, a price-to-earnings ratio of 15.87, a PEG 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 announced 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, research analysts expect that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 17th will be paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Friday, February 14th. Hershey’s payout ratio is 50.28%.

Wall Street Analysts Forecast Growth

HSY has been the topic of a number of recent research reports. Jefferies Financial Group reduced their price target on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 21st. Citigroup upgraded shares of Hershey from a “sell” rating to a “neutral” rating and reduced their price target for the company from $159.00 to $154.00 in a research report on Friday, February 7th. Piper Sandler cut shares of Hershey from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $153.00 to $120.00 in a research report on Friday, January 31st. Royal Bank of Canada reiterated a “sector perform” rating and set a $178.00 price target on shares of Hershey in a research report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their price target on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Five investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $164.15.

Insiders Place Their Bets

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $148.00, for a total value of $41,144.00. Following the completion of the transaction, the chief accounting officer now owns 2,682 shares in the company, valued at approximately $396,936. This represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.34% of the stock is owned by corporate insiders.

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.