Independent Advisor Alliance Lowers Stock Holdings in The Hershey Company (NYSE:HSY)

Independent Advisor Alliance decreased its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 26.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,517 shares of the company's stock after selling 10,652 shares during the quarter. Independent Advisor Alliance's holdings in Hershey were worth $4,999,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of HSY. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Hershey in the 3rd quarter worth $1,337,000. Principal Financial Group Inc. lifted its stake in 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 purchasing an additional 389,404 shares in the last quarter. Woodstock Corp lifted its stake 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 purchasing an additional 1,780 shares in the last quarter. Elevate Capital Advisors LLC purchased a new stake in Hershey in the 4th quarter worth $1,939,000. Finally, Ethos Financial Group LLC lifted its stake in Hershey by 59.8% in the 4th quarter. Ethos Financial Group LLC now owns 3,962 shares of the company's stock worth $671,000 after purchasing an additional 1,483 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Stock Performance

Shares of NYSE:HSY opened at $179.55 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $36.34 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 5.90 and a beta of 0.32. The firm's 50-day moving average is $162.04 and its 200 day moving average is $176.21. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $211.92.

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Hershey (NYSE:HSY - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. Research analysts predict that The Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 17th will be paid a $1.37 dividend. The ex-dividend date is Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a yield of 3.05%. Hershey's dividend payout ratio is currently 50.28%.

Insiders Place Their Bets

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the transaction, the chief accounting officer now directly owns 2,682 shares in the company, valued at $396,936. This represents a 9.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on HSY shares. JPMorgan Chase & Co. decreased their price target on shares of Hershey from $171.00 to $151.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Hershey from $184.00 to $148.00 and set a "hold" rating on the stock in a research report on Thursday, January 23rd. Piper Sandler cut shares of Hershey from a "neutral" rating to an "underweight" rating and decreased their target price for the company from $153.00 to $120.00 in a research report on Friday, January 31st. Mizuho decreased their target price on shares of Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. Finally, Bernstein Bank decreased their target price on shares of Hershey from $177.00 to $146.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. Five investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $164.15.

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.

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