The Hershey Company (NYSE:HSY) is DRH Investments Inc.'s 9th Largest Position

DRH Investments Inc. reduced its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 9.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,722 shares of the company's stock after selling 4,823 shares during the quarter. Hershey makes up about 9.5% of DRH Investments Inc.'s holdings, making the stock its 9th biggest holding. DRH Investments Inc.'s holdings in Hershey were worth $8,251,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of HSY. Principal Financial Group Inc. grew its position 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 worth $186,571,000 after buying an additional 389,404 shares during the period. Woodstock Corp increased its holdings in Hershey by 34.8% in the 4th quarter. Woodstock Corp now owns 6,896 shares of the company's stock worth $1,168,000 after acquiring an additional 1,780 shares in the last quarter. Elevate Capital Advisors LLC bought a new stake in shares of Hershey during the 4th quarter valued at $1,939,000. Ethos Financial Group LLC boosted its stake in shares of Hershey by 59.8% in the fourth quarter. Ethos Financial Group LLC now owns 3,962 shares of the company's stock worth $671,000 after acquiring an additional 1,483 shares during the period. Finally, Pensionfund Sabic grew its holdings in Hershey by 55.6% during the 4th quarter. Pensionfund Sabic now owns 8,400 shares of the company's stock valued at $1,423,000 after buying an additional 3,000 shares in the last quarter. 57.96% of the stock is owned by institutional investors.

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Hershey Trading Down 1.0 %

Shares of HSY stock traded down $1.67 during trading hours on Wednesday, hitting $166.28. The company had a trading volume of 358,895 shares, compared to its average volume of 1,791,394. The Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $211.92. The company's fifty day moving average is $168.19 and its 200 day moving average is $170.98. The stock has a market capitalization of $33.66 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 5.90 and a beta of 0.28. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64.

Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, topping 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%. Research analysts expect that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Friday, February 14th. Hershey's dividend payout ratio is presently 50.28%.

Insider Activity

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction of $41,144.00. Following the sale, the chief accounting officer now owns 2,682 shares in the company, valued at approximately $396,936. This represents a 9.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.28% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on HSY shares. Morgan Stanley began coverage on Hershey in a report on Monday, March 24th. They issued an "equal weight" rating and a $183.00 target price for the company. Citigroup cut their price objective on shares of Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a report on Tuesday. Jefferies Financial Group lowered their price target on shares of Hershey from $150.00 to $134.00 and set an "underperform" rating on the stock in a report on Tuesday, January 21st. Piper Sandler lowered shares of Hershey from a "neutral" rating to an "underweight" rating and cut their price target for the company from $153.00 to $120.00 in a research note on Friday, January 31st. Finally, TD Cowen decreased their price objective on shares of Hershey from $190.00 to $172.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Five investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $163.05.

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.