Bridgewater Associates LP Cuts Holdings in The Hershey Company (NYSE:HSY)

Bridgewater Associates LP cut its position in The Hershey Company (NYSE:HSY - Free Report) by 31.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,523 shares of the company's stock after selling 12,362 shares during the quarter. Bridgewater Associates LP's holdings in Hershey were worth $4,492,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of Hershey by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company's stock valued at $785,003,000 after buying an additional 247,675 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Hershey by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 3,801,145 shares of the company's stock valued at $642,139,000 after buying an additional 47,394 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Hershey by 7.3% during the 4th quarter. Invesco Ltd. now owns 1,282,681 shares of the company's stock valued at $217,222,000 after purchasing an additional 87,498 shares during the last quarter. Principal Financial Group Inc. grew its holdings 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 purchasing an additional 389,404 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Hershey by 15.1% during the 4th quarter. American Century Companies Inc. now owns 711,009 shares of the company's stock valued at $120,409,000 after purchasing an additional 93,009 shares during the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Stock Down 0.6 %

NYSE:HSY traded down $1.08 during mid-day trading on Wednesday, hitting $166.36. 274,492 shares of the company's stock were exchanged, compared to its average volume of 1,890,759. The company has a market cap of $33.67 billion, a PE ratio of 15.26, a P/E/G ratio of 5.90 and a beta of 0.28. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. The Hershey Company has a one year low of $140.13 and a one year high of $211.92. The business has a fifty day moving average price of $169.08 and a 200 day moving average price of $170.08.

Hershey (NYSE:HSY - Get Free Report) last posted 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 return on equity of 44.77% and a net margin of 19.83%. Equities analysts predict that The Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 3.29%. Hershey's payout ratio is currently 50.28%.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research firms recently commented on HSY. UBS Group increased their target price on shares of Hershey from $159.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, April 17th. Bernstein Bank reduced their target price on shares of Hershey from $177.00 to $146.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Hershey from $184.00 to $148.00 and set a "hold" rating on the stock in a report on Thursday, January 23rd. Piper Sandler lowered shares of Hershey from a "neutral" rating to an "underweight" rating and reduced their target price for the company from $153.00 to $120.00 in a report on Friday, January 31st. Finally, Wells Fargo & Company raised their price target on shares of Hershey from $125.00 to $132.00 and gave the stock an "underweight" rating in a report on Friday, March 14th. Five research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to MarketBeat.com, Hershey has a consensus rating of "Hold" and a consensus target price of $163.35.

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.