New York State Teachers Retirement System Trims Stock Holdings in The Hershey Company (NYSE:HSY)

New York State Teachers Retirement System decreased its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 5.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 125,185 shares of the company's stock after selling 7,875 shares during the period. New York State Teachers Retirement System owned 0.06% of Hershey worth $24,008,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Hershey by 14.2% in the 1st quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company's stock valued at $3,372,965,000 after acquiring an additional 2,158,912 shares during the period. International Assets Investment Management LLC raised its stake in shares of Hershey by 30,461.7% in the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company's stock worth $1,100,130,000 after purchasing an additional 571,766 shares during the last quarter. Confluence Investment Management LLC lifted its holdings in shares of Hershey by 297.9% during the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company's stock worth $131,959,000 after purchasing an additional 537,419 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in Hershey in the second quarter valued at approximately $82,123,000. Finally, Bryn Mawr Capital Management LLC boosted its position in Hershey by 3,404.3% in the first quarter. Bryn Mawr Capital Management LLC now owns 256,447 shares of the company's stock valued at $49,879,000 after buying an additional 249,129 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Hershey

In other news, CAO Jennifer Mccalman sold 538 shares of Hershey stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $199.17, for a total value of $107,153.46. Following the completion of the transaction, the chief accounting officer now owns 3,238 shares in the company, valued at approximately $644,912.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.34% of the company's stock.

Hershey Trading Up 0.9 %

Shares of NYSE:HSY traded up $1.68 during mid-day trading on Friday, reaching $179.26. 1,355,557 shares of the company were exchanged, compared to its average volume of 1,668,589. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.86 and a quick ratio of 0.48. The firm's 50-day simple moving average is $191.10 and its 200 day simple moving average is $192.42. The Hershey Company has a 1 year low of $176.78 and a 1 year high of $211.92. The firm has a market cap of $36.26 billion, a price-to-earnings ratio of 19.82, a P/E/G ratio of 4.09 and a beta of 0.37.

Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.17). The firm had revenue of $2.07 billion during the quarter, compared to analysts' expectations of $2.30 billion. Hershey had a net margin of 16.76% and a return on equity of 45.36%. Hershey's quarterly revenue was down 16.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.01 EPS. Equities research analysts forecast that The Hershey Company will post 9.42 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on HSY shares. Redburn Atlantic began coverage on shares of Hershey in a report on Tuesday, October 22nd. They set a "sell" rating and a $165.00 target price for the company. Barclays decreased their price objective on shares of Hershey from $204.00 to $202.00 and set an "equal weight" rating for the company in a research report on Tuesday, September 24th. The Goldman Sachs Group initiated coverage on Hershey in a research report on Monday, August 12th. They set a "sell" rating and a $185.00 target price on the stock. Piper Sandler decreased their target price on Hershey from $179.00 to $165.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 23rd. Finally, Bank of America dropped their price target on Hershey from $200.00 to $195.00 and set a "neutral" rating for the company in a research report on Tuesday, October 15th. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to data from MarketBeat, Hershey has a consensus rating of "Hold" and an average target price of $191.61.

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.