Intact Investment Management Inc. Has $4.10 Million Position in The Hershey Company (NYSE:HSY)

Intact Investment Management Inc. trimmed its holdings in The Hershey Company (NYSE:HSY - Free Report) by 23.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,200 shares of the company's stock after selling 7,300 shares during the period. Intact Investment Management Inc.'s holdings in Hershey were worth $4,098,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in HSY. Ashton Thomas Securities LLC acquired a new stake in shares of Hershey in the third quarter valued at approximately $25,000. Grove Bank & Trust lifted its holdings in Hershey by 248.0% during the 4th quarter. Grove Bank & Trust now owns 174 shares of the company's stock worth $29,000 after purchasing an additional 124 shares during the last quarter. Vision Financial Markets LLC acquired a new stake in Hershey during the 4th quarter worth approximately $29,000. ST Germain D J Co. Inc. lifted its holdings in Hershey by 61.7% during the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company's stock worth $44,000 after purchasing an additional 100 shares during the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in Hershey during the 3rd quarter worth approximately $46,000. 57.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays dropped their price target on Hershey from $170.00 to $160.00 and set an "equal weight" rating for the company in a report on Monday, February 10th. Stifel Nicolaus dropped their price target on Hershey from $170.00 to $160.00 and set a "hold" rating for the company in a report on Friday, February 7th. Piper Sandler cut Hershey from a "neutral" rating to an "underweight" rating and dropped their price target for the stock from $153.00 to $120.00 in a report on Friday, January 31st. Bernstein Bank lowered their price objective on Hershey from $177.00 to $146.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 5th. Finally, Mizuho lowered their price objective on Hershey from $170.00 to $140.00 in a research note on Wednesday, February 5th. Five investment analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $163.75.

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Insider Activity at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of the firm's 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 of the company's stock, valued at $396,936. This trade represents a 9.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Hershey Price Performance

Shares of HSY traded down $1.75 during midday trading on Wednesday, hitting $167.67. The company's stock had a trading volume of 1,705,136 shares, compared to its average volume of 1,754,928. The Hershey Company has a one year low of $140.13 and a one year high of $211.92. The company's fifty day simple moving average is $162.29 and its two-hundred day simple moving average is $175.43. 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 stock has a market capitalization of $33.94 billion, a price-to-earnings ratio of 15.38, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32.

Hershey (NYSE:HSY - Get Free Report) last released 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%. As a group, 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. 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 3.27%. The ex-dividend date of this dividend was Friday, February 14th. Hershey's dividend payout ratio (DPR) is 50.28%.

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.