Envestnet Asset Management Inc. Sells 220,113 Shares of The Hershey Company (NYSE:HSY)

Envestnet Asset Management Inc. trimmed its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 25.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 655,797 shares of the company's stock after selling 220,113 shares during the period. Envestnet Asset Management Inc. owned 0.32% of Hershey worth $111,059,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in HSY. Raymond James Financial Inc. purchased a new position in shares of Hershey during the fourth quarter valued at $80,978,000. Principal Financial Group Inc. increased its holdings 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 during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Hershey by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company's stock worth $785,003,000 after purchasing an additional 247,675 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Hershey during the fourth quarter worth approximately $21,439,000. Finally, Proficio Capital Partners LLC purchased a new position in Hershey during the fourth quarter valued at approximately $18,273,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Stock Performance

Shares of NYSE HSY traded up $1.47 during trading hours on Friday, hitting $165.56. 1,233,925 shares of the company's stock were exchanged, compared to its average volume of 1,800,614. The company's 50-day moving average price is $167.39 and its 200-day moving average price is $171.16. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $211.92. The stock has a market capitalization of $33.51 billion, a price-to-earnings ratio of 15.19, a PEG 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.

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Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings data 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 return on equity of 44.77% and a net margin of 19.83%. On average, sell-side analysts expect that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were given a $1.37 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $5.48 annualized dividend and a yield of 3.31%. Hershey's dividend payout ratio is 50.28%.

Insider Transactions at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of Hershey stock in a transaction dated 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 directly owns 2,682 shares of the company's stock, valued at $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

HSY has been the subject of a number of research analyst reports. TD Cowen cut their target price 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. Wells Fargo & Company lifted their price objective on Hershey from $125.00 to $132.00 and gave the company an "underweight" rating in a research report on Friday, March 14th. Piper Sandler lowered Hershey from a "neutral" rating to an "underweight" rating and dropped their target price for the stock from $153.00 to $120.00 in a research report on Friday, January 31st. Barclays lowered their price target on Hershey from $170.00 to $160.00 and set an "equal weight" rating for the company in a research note on Monday, February 10th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $178.00 price objective on shares of Hershey in a research report on Monday, February 3rd. Five equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $162.50.

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.