Heartland Advisors Inc. Trims Position in The Hershey Company (NYSE:HSY)

Heartland Advisors Inc. cut its stake in The Hershey Company (NYSE:HSY - Free Report) by 23.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,906 shares of the company's stock after selling 23,848 shares during the quarter. Heartland Advisors Inc.'s holdings in Hershey were worth $13,193,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of HSY. DnB Asset Management AS lifted its holdings in shares of Hershey by 10.8% in the 4th quarter. DnB Asset Management AS now owns 36,771 shares of the company's stock worth $6,227,000 after acquiring an additional 3,570 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in Hershey by 1.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 68,287 shares of the company's stock worth $11,564,000 after purchasing an additional 796 shares during the period. Broadway Wealth Solutions Inc. bought a new stake in Hershey in the fourth quarter worth about $320,000. Norges Bank bought a new stake in Hershey in the fourth quarter worth about $5,618,000. Finally, Blair William & Co. IL boosted its position in shares of Hershey by 6.4% during the fourth quarter. Blair William & Co. IL now owns 39,387 shares of the company's stock valued at $6,670,000 after buying an additional 2,365 shares during the period. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Stock Down 0.4 %

Hershey stock traded down $0.75 during trading hours on Friday, reaching $169.87. The stock had a trading volume of 1,075,173 shares, compared to its average volume of 1,788,113. The Hershey Company has a 52 week low of $140.13 and a 52 week high of $211.92. The company has a market cap of $34.38 billion, a price-to-earnings ratio of 15.58, a PEG ratio of 5.90 and a beta of 0.32. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. The business's 50 day moving average price is $164.03 and its 200-day moving average price is $173.84.

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Hershey (NYSE:HSY - Get Free Report) last announced its earnings results 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 net margin of 19.83% and a return on equity of 44.77%. Sell-side analysts anticipate that The Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were issued a dividend of $1.37 per share. The ex-dividend date was Friday, February 14th. This represents a $5.48 annualized dividend and a dividend yield of 3.23%. Hershey's dividend payout ratio (DPR) is currently 50.28%.

Insider Activity at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer now 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 filing with the SEC, which is accessible through the SEC website. 0.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Piper Sandler lowered Hershey from a "neutral" rating to an "underweight" rating and decreased their price target for the stock from $153.00 to $120.00 in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft decreased their target price on Hershey from $184.00 to $148.00 and set a "hold" rating for the company in a research report on Thursday, January 23rd. Barclays cut their price target 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. Citigroup upgraded shares of Hershey from a "sell" rating to a "neutral" rating and decreased their price objective for the company from $159.00 to $154.00 in a report on Friday, February 7th. Finally, Jefferies Financial Group reduced their target price on shares of Hershey from $150.00 to $134.00 and set an "underperform" rating on the stock in a research report on Tuesday, January 21st. Five research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $162.50.

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.