Tobam Decreases Stock Holdings in The Hershey Company (NYSE:HSY)

Tobam lessened its stake in shares of The Hershey Company (NYSE:HSY) by 23.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,589 shares of the company’s stock after selling 8,694 shares during the quarter. Hershey comprises about 1.5% of Tobam’s investment portfolio, making the stock its 19th biggest holding. Tobam’s holdings in Hershey were worth $4,842,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Hershey during the 3rd quarter valued at $1,337,000. Principal Financial Group Inc. boosted its holdings 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 buying an additional 389,404 shares during the last quarter. Woodstock Corp increased its holdings in Hershey by 34.8% during the fourth quarter. Woodstock Corp now owns 6,896 shares of the company’s stock valued at $1,168,000 after buying an additional 1,780 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Hershey by 61.9% during the 3rd quarter. HighTower Advisors LLC now owns 120,159 shares of the company’s stock worth $23,052,000 after acquiring an additional 45,936 shares during the last quarter. Finally, Pensionfund Sabic raised its holdings in Hershey by 55.6% in the 4th quarter. Pensionfund Sabic now owns 8,400 shares of the company’s stock worth $1,423,000 after purchasing an additional 3,000 shares during the period. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Stock Up 4.5 %

Shares of NYSE:HSY opened at $152.43 on Friday. The company has a 50-day moving average price of $165.24 and a 200 day moving average price of $180.97. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $211.92. The company has a market cap of $30.84 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 4.30 and a beta of 0.38.

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 net margin of 16.17% and a return on equity of 43.24%. As a group, equities research analysts predict that The Hershey Company will post 9.06 earnings per share for the current year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 17th will be given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.60%. Hershey’s dividend payout ratio (DPR) is 63.13%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. JPMorgan Chase & Co. reduced their price target on Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Bernstein Bank decreased their target price on shares of Hershey from $177.00 to $146.00 and set a “market perform” rating on the stock in a research note on Wednesday. Redburn Atlantic initiated coverage on shares of Hershey in a research report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective on the stock. Mizuho lowered their target price on shares of Hershey from $170.00 to $140.00 in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Hershey from $184.00 to $148.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Six research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $166.85.

Insider Activity

In other news, CAO Jennifer Mccalman sold 278 shares of Hershey 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 completion of the sale, the chief accounting officer now owns 2,682 shares of the company’s stock, valued at approximately $396,936. The trade was a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company’s stock.

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.