O Shaughnessy Asset Management LLC Sells 2,818 Shares of The Hershey Company (NYSE:HSY)

O Shaughnessy Asset Management LLC reduced its holdings in The Hershey Company (NYSE:HSY - Free Report) by 17.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,235 shares of the company's stock after selling 2,818 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in Hershey were worth $2,241,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. boosted its position in Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company's stock valued at $186,571,000 after purchasing an additional 389,404 shares during the last quarter. Woodstock Corp increased its stake in shares of Hershey by 34.8% in the 4th quarter. Woodstock Corp now owns 6,896 shares of the company's stock valued at $1,168,000 after purchasing an additional 1,780 shares during the last quarter. Elevate Capital Advisors LLC bought a new position in shares of Hershey in the 4th quarter valued at $1,939,000. Ethos Financial Group LLC increased its stake in shares of Hershey by 59.8% in the 4th quarter. Ethos Financial Group LLC now owns 3,962 shares of the company's stock valued at $671,000 after purchasing an additional 1,483 shares during the last quarter. Finally, HighTower Advisors LLC boosted its holdings in shares of Hershey by 61.9% during the 3rd quarter. HighTower Advisors LLC now owns 120,159 shares of the company's stock valued at $23,052,000 after acquiring an additional 45,936 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors.

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Hershey Stock Performance

Shares of NYSE:HSY traded down $0.95 during trading on Thursday, hitting $163.22. 324,761 shares of the company were exchanged, compared to its average volume of 1,794,658. The company has a market cap of $33.04 billion, a PE ratio of 14.96, a P/E/G ratio of 5.90 and a beta of 0.28. The Hershey Company has a 52-week low of $140.13 and a 52-week high of $211.92. The stock has a 50 day moving average of $166.65 and a 200 day moving average of $171.67. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, topping 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%. As a group, equities research analysts predict that The Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were paid a $1.37 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a yield of 3.36%. Hershey's dividend payout ratio is presently 50.28%.

Analysts Set New Price Targets

Several brokerages have commented on HSY. JPMorgan Chase & Co. cut their target price on Hershey from $171.00 to $151.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Citigroup raised Hershey from a "sell" rating to a "neutral" rating and dropped their price objective for the company from $159.00 to $154.00 in a research note on Friday, February 7th. DA Davidson decreased their target price on Hershey from $164.00 to $149.00 and set a "neutral" rating for the company in a research report on Monday, February 10th. Jefferies Financial Group decreased their price objective on Hershey from $150.00 to $134.00 and set an "underperform" rating for the company in a report on Tuesday, January 21st. Finally, Barclays decreased their price objective on Hershey from $170.00 to $160.00 and set an "equal weight" rating for the company in a report on Monday, February 10th. Five research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $162.50.

Insider Activity

In other news, CAO Jennifer Mccalman sold 278 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction of $41,144.00. Following the transaction, the chief accounting officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.34% of the company's stock.

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.