Callahan Advisors LLC Purchases Shares of 1,769 The Hershey Company (NYSE:HSY)

Callahan Advisors LLC acquired a new stake in The Hershey Company (NYSE:HSY - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,769 shares of the company's stock, valued at approximately $300,000.

Several other institutional investors have also modified their holdings of HSY. Ashton Thomas Securities LLC purchased a new position in shares of Hershey during the 3rd quarter worth $25,000. Grove Bank & Trust raised its holdings in shares of Hershey by 248.0% during the 4th quarter. Grove Bank & Trust now owns 174 shares of the company's stock worth $29,000 after acquiring an additional 124 shares during the period. 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 worth $44,000 after purchasing an additional 100 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Hershey during the 3rd quarter worth about $46,000. Finally, City State Bank increased its position 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 last quarter. Hedge funds and other institutional investors own 57.96% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HSY. Wells Fargo & Company cut their price objective on Hershey from $150.00 to $140.00 and set an "underweight" rating for the company in a research report on Friday, January 17th. DA Davidson dropped their target price on Hershey from $164.00 to $149.00 and set a "neutral" rating for the company in a research report on Monday, February 10th. Piper Sandler downgraded Hershey from a "neutral" rating to an "underweight" rating and dropped their target price for the company from $153.00 to $120.00 in a research report on Friday, January 31st. Stifel Nicolaus dropped their target price on Hershey from $170.00 to $160.00 and set a "hold" rating for the company in a research report on Friday, February 7th. Finally, Barclays dropped 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. Five equities research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to MarketBeat.com, Hershey presently has an average rating of "Hold" and a consensus price target of $164.15.

Insider Activity

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

Hershey Stock Performance

Shares of NYSE HSY traded up $6.93 during mid-day trading on Friday, hitting $173.03. 4,114,899 shares of the company were exchanged, compared to its average volume of 2,072,895. 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 stock has a 50 day simple moving average of $160.67 and a 200-day simple moving average of $178.37. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $211.92. The firm has a market cap of $35.01 billion, a price-to-earnings ratio of 15.87, a price-to-earnings-growth ratio of 5.82 and a beta of 0.37.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. On average, sell-side analysts forecast that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 17th will be issued a $1.37 dividend. The ex-dividend date is Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.17%. Hershey's dividend payout ratio is presently 50.28%.

Hershey Company 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.