The Hershey Company (NYSE:HSY) Position Reduced by Bessemer Group Inc.

Bessemer Group Inc. cut its position in The Hershey Company (NYSE:HSY - Free Report) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 214,403 shares of the company's stock after selling 7,605 shares during the period. Bessemer Group Inc. owned approximately 0.11% of Hershey worth $36,308,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crowley Wealth Management Inc. acquired a new position in shares of Hershey in the 4th quarter valued at about $28,000. Grove Bank & Trust lifted its stake in shares of 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 purchasing an additional 124 shares during the period. Vision Financial Markets LLC purchased a new stake in Hershey during the fourth quarter worth $29,000. Lee Danner & Bass Inc. acquired a new stake in Hershey during the fourth quarter valued at $34,000. Finally, ST Germain D J Co. Inc. increased its holdings in 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 buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company's stock.

Hershey Price Performance

Hershey stock traded down $2.66 during mid-day trading on Tuesday, reaching $167.64. The company had a trading volume of 403,348 shares, compared to its average volume of 1,794,542. The stock's 50-day simple moving average is $167.88 and its 200-day simple moving average is $171.00. The Hershey Company has a 1 year low of $140.13 and a 1 year high of $211.92. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. The company has a market capitalization of $33.93 billion, a P/E ratio of 15.38, a P/E/G 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 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, equities analysts predict that The Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Friday, February 14th. Hershey's dividend payout ratio is currently 50.28%.

Insider Activity at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of Hershey 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 transaction, the chief accounting officer now owns 2,682 shares in the company, valued at approximately $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on HSY shares. Stifel Nicolaus dropped their price objective on Hershey from $170.00 to $160.00 and set a "hold" rating on the stock in a report on Friday, February 7th. Piper Sandler lowered shares of Hershey from a "neutral" rating to an "underweight" rating and cut their price target for the stock from $153.00 to $120.00 in a report on Friday, January 31st. Morgan Stanley assumed coverage on shares of Hershey in a research note on Monday, March 24th. They set an "equal weight" rating and a $183.00 target price for the company. Citigroup decreased their price target on shares of Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. cut their price objective on Hershey from $171.00 to $151.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Five equities research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $163.05.

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.