Corient Private Wealth LLC Has $6.47 Million Holdings in The Hershey Company (NYSE:HSY)

Corient Private Wealth LLC trimmed its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 12.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,211 shares of the company's stock after selling 5,284 shares during the period. Corient Private Wealth LLC's holdings in Hershey were worth $6,471,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in Hershey during the fourth quarter worth $80,978,000. Principal Financial Group Inc. boosted its stake in shares of Hershey by 66.7% in the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company's stock valued at $186,571,000 after purchasing an additional 389,404 shares in the last quarter. State Street Corp grew its holdings in shares of Hershey by 5.8% in the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company's stock worth $1,348,127,000 after purchasing an additional 386,670 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Hershey by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company's stock worth $785,003,000 after buying an additional 247,675 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Hershey by 31.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company's stock valued at $112,491,000 after purchasing an additional 139,831 shares during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insiders Place Their Bets

In other news, CAO Jennifer Mccalman sold 278 shares of Hershey 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.34% of the company's stock.

Hershey Stock Performance

Shares of NYSE HSY traded down $2.92 during mid-day trading on Tuesday, reaching $165.09. 1,409,398 shares of the company were exchanged, compared to its average volume of 1,752,265. The Hershey Company has a twelve month low of $140.13 and a twelve month high of $211.92. The stock has a market capitalization of $33.42 billion, a P/E ratio of 15.15, a P/E/G ratio of 5.90 and a beta of 0.32. The company's 50-day simple moving average is $162.83 and its 200-day simple moving average is $174.59. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings data 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%. As a group, research analysts predict that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Friday, February 14th. Hershey's dividend payout ratio is 50.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on HSY shares. Piper Sandler lowered shares of Hershey from a "neutral" rating to an "underweight" rating and reduced their target price for the stock from $153.00 to $120.00 in a research report on Friday, January 31st. UBS Group dropped their target price on Hershey from $189.00 to $163.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Barclays dropped their price objective on Hershey from $170.00 to $160.00 and set an "equal weight" rating for the company in a report on Monday, February 10th. JPMorgan Chase & Co. lowered their price target on shares of Hershey from $171.00 to $151.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Finally, Bernstein Bank cut their price objective on shares of Hershey from $177.00 to $146.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. Five analysts have rated the stock with a sell rating and seventeen have given a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $164.67.

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.