Guggenheim Capital LLC Decreases Stake in The Hershey Company (NYSE:HSY)

Guggenheim Capital LLC reduced its stake in The Hershey Company (NYSE:HSY - Free Report) by 3.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 96,279 shares of the company's stock after selling 3,173 shares during the period. Guggenheim Capital LLC's holdings in Hershey were worth $16,305,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Hershey by 49.1% during the third quarter. Wellington Management Group LLP now owns 4,993 shares of the company's stock worth $958,000 after purchasing an additional 1,645 shares in the last quarter. M&T Bank Corp boosted its holdings in Hershey by 3.6% during the 3rd quarter. M&T Bank Corp now owns 34,468 shares of the company's stock valued at $6,610,000 after acquiring an additional 1,195 shares during the period. Virtu Financial LLC grew its position in Hershey by 83.1% in the 3rd quarter. Virtu Financial LLC now owns 14,170 shares of the company's stock valued at $2,717,000 after acquiring an additional 6,433 shares in the last quarter. Anchor Investment Management LLC boosted its position in Hershey by 86.8% in the 3rd quarter. Anchor Investment Management LLC now owns 1,156 shares of the company's stock valued at $222,000 after buying an additional 537 shares during the period. Finally, Stock Yards Bank & Trust Co. grew its stake in Hershey by 3.1% during the 3rd quarter. Stock Yards Bank & Trust Co. now owns 8,249 shares of the company's stock worth $1,582,000 after purchasing an additional 250 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. TD Cowen lowered their target price on shares of Hershey from $190.00 to $172.00 and set a "hold" rating for the company in a research note on Wednesday, January 8th. Wells Fargo & Company upped their price objective on Hershey from $125.00 to $132.00 and gave the stock an "underweight" rating in a research report on Friday, March 14th. Deutsche Bank Aktiengesellschaft cut their target price on Hershey from $184.00 to $148.00 and set a "hold" rating on the stock in a research report on Thursday, January 23rd. Barclays cut their price objective on shares of Hershey from $170.00 to $160.00 and set an "equal weight" rating on the stock in a report on Monday, February 10th. Finally, DA Davidson dropped their target price on shares of Hershey from $164.00 to $149.00 and set a "neutral" rating on the stock in a research report on Monday, February 10th. Five equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. According to data from MarketBeat, Hershey currently has an average rating of "Hold" and an average price target of $163.35.

Insider Buying and Selling

In related news, CAO Jennifer Mccalman sold 278 shares of the firm'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 sale, the chief accounting officer now directly owns 2,682 shares of the company's stock, valued at approximately $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.28% of the stock is owned by company insiders.

Hershey Price Performance

Shares of Hershey stock traded up $2.18 during trading on Friday, hitting $166.41. 1,120,479 shares of the company were exchanged, compared to its average volume of 1,793,640. The firm has a 50 day moving average price of $168.78 and a 200 day moving average price of $170.58. The stock has a market capitalization of $33.68 billion, a price-to-earnings ratio of 15.27, a P/E/G ratio of 5.90 and a beta of 0.28. 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 Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $211.92.

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, 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, equities analysts expect that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date was Friday, February 14th. Hershey's dividend payout ratio is presently 50.28%.

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.