Sterling Capital Management LLC Sells 298,330 Shares of The Hershey Company (NYSE:HSY)

Sterling Capital Management LLC lowered its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 34.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 576,438 shares of the company's stock after selling 298,330 shares during the quarter. Hershey accounts for approximately 1.3% of Sterling Capital Management LLC's investment portfolio, making the stock its 18th largest position. Sterling Capital Management LLC owned approximately 0.28% of Hershey worth $97,620,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Quinn Opportunity Partners LLC raised its holdings in Hershey by 2,890.2% during the 4th quarter. Quinn Opportunity Partners LLC now owns 89,707 shares of the company's stock worth $15,192,000 after buying an additional 86,707 shares during the period. Covestor Ltd boosted its stake in Hershey by 42.5% in the 4th quarter. Covestor Ltd now owns 238 shares of the company's stock worth $40,000 after purchasing an additional 71 shares during the period. Scotia Capital Inc. grew its position in Hershey by 1.0% during the 4th quarter. Scotia Capital Inc. now owns 30,561 shares of the company's stock worth $5,176,000 after purchasing an additional 301 shares in the last quarter. Azimuth Capital Investment Management LLC raised its stake in Hershey by 24.4% during the 4th quarter. Azimuth Capital Investment Management LLC now owns 17,860 shares of the company's stock valued at $3,025,000 after purchasing an additional 3,505 shares during the period. Finally, Bernard Wealth Management Corp. purchased a new stake in shares of Hershey in the fourth quarter valued at $52,000. 57.96% of the stock is owned by institutional investors and hedge funds.

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Hershey Stock Performance

NYSE HSY traded down $2.15 during midday trading on Tuesday, hitting $168.16. The company had a trading volume of 1,252,234 shares, compared to its average volume of 1,797,791. The firm has a fifty day simple moving average of $167.88 and a two-hundred day simple moving average of $171.00. The Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $211.92. 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 cap of $34.04 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 5.90 and a beta of 0.28.

Hershey (NYSE:HSY - Get Free Report) last released 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 forecast that The Hershey Company will post 6.12 earnings per share for the current fiscal 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 was Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.26%. Hershey's payout ratio is 50.28%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Jefferies Financial Group reduced their price objective on Hershey from $150.00 to $134.00 and set an "underperform" rating for the company in a research note on Tuesday, January 21st. JPMorgan Chase & Co. decreased their price target on shares of Hershey from $171.00 to $151.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Wells Fargo & Company upped their price objective on shares of Hershey from $125.00 to $132.00 and gave the company an "underweight" rating in a research note on Friday, March 14th. Mizuho lowered their price target on shares of Hershey from $170.00 to $140.00 in a report on Wednesday, February 5th. Finally, DA Davidson reduced their price objective on Hershey from $164.00 to $149.00 and set a "neutral" rating for the company in a research 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $163.05.

Insider Buying and Selling

In related news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the completion of the transaction, the chief accounting officer now owns 2,682 shares of the company's stock, valued at $396,936. This represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.34% of the stock is owned by company insiders.

Hershey 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.