Bridges Investment Management Inc. Sells 3,105 Shares of The Hershey Company (NYSE:HSY)

Bridges Investment Management Inc. cut its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 65,342 shares of the company's stock after selling 3,105 shares during the quarter. Bridges Investment Management Inc.'s holdings in Hershey were worth $11,066,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of Hershey in the third quarter valued at approximately $25,000. Grove Bank & Trust boosted its position in Hershey by 248.0% in the fourth quarter. Grove Bank & Trust now owns 174 shares of the company's stock worth $29,000 after purchasing an additional 124 shares during the last quarter. Peterson Financial Group Inc. bought a new position in Hershey in the 3rd quarter valued at $46,000. ST Germain D J Co. Inc. increased its position in shares of Hershey by 61.7% during the 4th 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 last quarter. Finally, City State Bank raised its stake in shares of Hershey by 210.0% during the 4th quarter. City State Bank now owns 310 shares of the company's stock worth $52,000 after purchasing an additional 210 shares during the period. 57.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on HSY. Bank of America reaffirmed a "neutral" rating and issued a $180.00 price objective on shares of Hershey in a research report on Thursday, December 12th. Wells Fargo & Company dropped their price objective on Hershey from $150.00 to $140.00 and set an "underweight" rating on the stock in a research note on Friday, January 17th. Barclays decreased their target price 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. Citigroup upgraded Hershey from a "sell" rating to a "neutral" rating and lowered their target price for the company from $159.00 to $154.00 in a research note on Friday, February 7th. Finally, Jefferies Financial Group cut their price target on Hershey from $150.00 to $134.00 and set an "underperform" rating for the company in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $164.15.

Insiders Place Their Bets

In other news, CAO Jennifer Mccalman sold 278 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value 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 approximately $396,936. The trade was a 9.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is owned by insiders.

Hershey Price Performance

Hershey stock traded up $0.61 during mid-day trading on Wednesday, hitting $176.99. 1,185,857 shares of the company traded hands, compared to its average volume of 1,814,155. The stock has a fifty day moving average price of $160.89 and a 200-day moving average price of $176.75. The stock has a market cap of $35.83 billion, a price-to-earnings ratio of 16.24, a price-to-earnings-growth ratio of 5.90 and a beta of 0.37. The Hershey Company has a one year low of $140.13 and a one year high of $211.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96.

Hershey (NYSE:HSY - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, beating 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%. On average, equities analysts predict that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 17th will be given a $1.37 dividend. The ex-dividend date is Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a yield of 3.10%. Hershey's payout ratio is 50.28%.

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.