The Hershey Company (NYSE:HSY) Shares Sold by Cromwell Holdings LLC

Cromwell Holdings LLC lowered its stake in shares of The Hershey Company (NYSE:HSY) by 35.0% in the fourth quarter, HoldingsChannel reports. The firm owned 225 shares of the company’s stock after selling 121 shares during the quarter. Cromwell Holdings LLC’s holdings in Hershey were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HSY. Blue Trust Inc. boosted its position in Hershey by 31.4% during the 3rd quarter. Blue Trust Inc. now owns 1,068 shares of the company’s stock valued at $196,000 after purchasing an additional 255 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Hershey by 107.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 17,609 shares of the company’s stock worth $3,377,000 after acquiring an additional 9,129 shares during the period. Foundations Investment Advisors LLC boosted its position in Hershey by 22.1% during the 3rd quarter. Foundations Investment Advisors LLC now owns 1,367 shares of the company’s stock worth $262,000 after acquiring an additional 247 shares during the period. Eastern Bank acquired a new position in Hershey during the 3rd quarter worth $288,000. Finally, Commerzbank Aktiengesellschaft FI acquired a new position in Hershey during the 3rd quarter worth $554,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reduced their price target on Hershey from $184.00 to $148.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. DA Davidson reduced their price target on Hershey from $164.00 to $149.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Barclays reduced their price target on Hershey from $170.00 to $160.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. TD Cowen reduced their price target on Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Piper Sandler lowered Hershey from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $153.00 to $120.00 in a report on Friday, January 31st. Five equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. According to MarketBeat.com, Hershey currently has an average rating of “Hold” and an average target price of $164.15.

Insider Transactions at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was 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. This represents a 9.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by insiders.

Hershey Stock Up 1.4 %

Shares of Hershey stock opened at $166.12 on Friday. The stock’s fifty day moving average is $161.03 and its 200-day moving average is $178.46. The firm has a market capitalization of $33.61 billion, a PE ratio of 15.24, a price-to-earnings-growth ratio of 5.79 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. The Hershey Company has a 12-month low of $140.13 and a 12-month high of $211.92.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share (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%. Equities analysts anticipate that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Friday, February 14th. Hershey’s dividend payout ratio (DPR) is presently 50.28%.

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.