Simplicity Wealth LLC Lowers Stock Holdings in The Hershey Company (NYSE:HSY)

Simplicity Wealth LLC reduced its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 62.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,469 shares of the company's stock after selling 2,442 shares during the quarter. Simplicity Wealth LLC's holdings in Hershey were worth $249,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Hershey during the third quarter worth approximately $1,337,000. Principal Financial Group Inc. raised its holdings in Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company's stock worth $186,571,000 after buying an additional 389,404 shares during the last quarter. Woodstock Corp lifted its stake in shares of Hershey by 34.8% in the fourth quarter. Woodstock Corp now owns 6,896 shares of the company's stock valued at $1,168,000 after buying an additional 1,780 shares in the last quarter. Elevate Capital Advisors LLC acquired a new position in shares of Hershey during the fourth quarter valued at about $1,939,000. Finally, Ethos Financial Group LLC increased its position in shares of Hershey by 59.8% during the fourth quarter. Ethos Financial Group LLC now owns 3,962 shares of the company's stock worth $671,000 after acquiring an additional 1,483 shares in the last quarter. Institutional investors own 57.96% of the company's stock.

Hershey Stock Performance

Hershey stock traded up $0.73 during trading on Thursday, hitting $171.67. The stock had a trading volume of 1,543,320 shares, compared to its average volume of 1,811,159. The stock's 50 day moving average is $162.12 and its two-hundred day moving average is $176.14. The Hershey Company has a 1 year low of $140.13 and a 1 year high of $211.92. The stock has a market cap of $34.75 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68.

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Hershey (NYSE:HSY - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) 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, analysts predict that The Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 17th will be given a dividend of $1.37 per share. The ex-dividend date is Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a yield of 3.19%. Hershey's dividend payout ratio is presently 50.28%.

Insider Transactions at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total transaction of $41,144.00. Following the sale, the chief accounting officer now directly owns 2,682 shares in the company, valued at approximately $396,936. This represents a 9.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Bernstein Bank dropped their price target 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. UBS Group dropped their target price on Hershey from $189.00 to $163.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Piper Sandler cut Hershey from a "neutral" rating to an "underweight" rating and cut their target price for the company from $153.00 to $120.00 in a research report on Friday, January 31st. JPMorgan Chase & Co. lowered their price target on Hershey from $171.00 to $151.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Finally, Bank of America restated a "neutral" rating and set a $180.00 price objective on shares of Hershey in a research note on Thursday, December 12th. Five analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $164.15.

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.