National Bank of Canada FI Lowers Stake in The Hershey Company (NYSE:HSY)

National Bank of Canada FI decreased its holdings in shares of The Hershey Company (NYSE:HSY - Free Report) by 9.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 92,723 shares of the company's stock after selling 10,077 shares during the period. National Bank of Canada FI's holdings in Hershey were worth $15,708,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in Hershey in the fourth quarter valued at approximately $80,978,000. Principal Financial Group Inc. raised its position in shares of Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company's stock valued at $186,571,000 after buying an additional 389,404 shares in the last quarter. State Street Corp lifted its holdings in shares of Hershey by 5.8% during the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company's stock worth $1,348,127,000 after acquiring an additional 386,670 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in 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 acquiring an additional 247,675 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in Hershey in the fourth quarter valued at $21,439,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the 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 transaction, the chief accounting officer now directly owns 2,682 shares in the company, 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 accessible through this hyperlink. Insiders own 0.34% of the company's stock.

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Hershey Stock Down 1.6 %

Shares of Hershey stock traded down $2.64 on Thursday, reaching $161.53. The company's stock had a trading volume of 416,384 shares, compared to its average volume of 1,975,425. The Hershey Company has a 52 week low of $140.13 and a 52 week high of $211.92. The firm's fifty day simple moving average is $166.65 and its two-hundred day simple moving average is $171.67. 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 company has a market capitalization of $32.69 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 5.90 and a beta of 0.28.

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

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were paid a dividend of $1.37 per share. The ex-dividend date was Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a yield of 3.39%. Hershey's dividend payout ratio is presently 50.28%.

Analyst Upgrades and Downgrades

HSY has been the topic of a number of recent research reports. DA Davidson reduced their price target 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. Morgan Stanley initiated coverage on Hershey in a report on Monday, March 24th. They issued an "equal weight" rating and a $183.00 price objective on the stock. Bank of America restated a "neutral" rating and set a $180.00 price target on shares of Hershey in a research report on Thursday, December 12th. Mizuho lowered their price objective on Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. Finally, Citigroup upgraded shares of Hershey from a "sell" rating to a "neutral" rating and cut their target price for the stock from $159.00 to $154.00 in a report on Friday, February 7th. Five research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $162.50.

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.