Bank of Montreal Can Trims Stock Holdings in The Hershey Company (NYSE:HSY)

Bank of Montreal Can lowered its position in The Hershey Company (NYSE:HSY - Free Report) by 29.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 237,428 shares of the company's stock after selling 100,064 shares during the quarter. Bank of Montreal Can owned 0.12% of Hershey worth $40,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Crowley Wealth Management Inc. acquired a new stake in shares of Hershey in the 4th quarter valued at about $28,000. Grove Bank & Trust increased its stake in Hershey by 248.0% in the 4th quarter. Grove Bank & Trust now owns 174 shares of the company's stock valued at $29,000 after buying an additional 124 shares during the last quarter. Vision Financial Markets LLC bought a new position in Hershey in the 4th quarter valued at $29,000. Lee Danner & Bass Inc. purchased a new position in Hershey in the fourth quarter valued at about $34,000. Finally, ST Germain D J Co. Inc. raised its position in shares of Hershey by 61.7% in the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company's stock valued at $44,000 after purchasing an additional 100 shares during the period. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Stock Down 1.4 %

Shares of HSY traded down $2.42 during mid-day trading on Tuesday, reaching $167.88. The company had a trading volume of 712,570 shares, compared to its average volume of 1,795,945. The Hershey Company has a 52 week low of $140.13 and a 52 week high of $211.92. The firm has a 50-day moving average price of $167.88 and a 200 day moving average price of $171.00. 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 company has a market capitalization of $33.98 billion, a price-to-earnings ratio of 15.40, a price-to-earnings-growth ratio of 5.90 and a beta of 0.28.

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Hershey (NYSE:HSY - Get Free Report) last posted its earnings results 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%. On average, sell-side analysts forecast that The Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were issued a dividend of $1.37 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $5.48 annualized dividend and a dividend yield of 3.26%. Hershey's payout ratio is 50.28%.

Analyst Ratings Changes

HSY has been the topic of several research reports. Barclays decreased their price target on shares of Hershey from $170.00 to $160.00 and set an "equal weight" rating on the stock in a research note on Monday, February 10th. Mizuho cut their target price on Hershey from $170.00 to $140.00 in a research note on Wednesday, February 5th. TD Cowen lowered 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. Bernstein Bank cut their price objective on Hershey from $177.00 to $146.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. decreased their target price on Hershey from $171.00 to $151.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Five analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. Based on data from MarketBeat.com, Hershey currently has an average rating of "Hold" and an average price target of $163.05.

Insider Transactions at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the business's stock in a transaction dated 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 sale, the chief accounting officer now directly owns 2,682 shares in the company, valued at $396,936. The trade was a 9.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.34% of the company's stock.

Hershey 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.