DT Investment Partners LLC Has $2.36 Million Stake in The Hershey Company (NYSE:HSY)

DT Investment Partners LLC cut its stake in shares of The Hershey Company (NYSE:HSY - Free Report) by 32.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,951 shares of the company's stock after selling 6,734 shares during the quarter. DT Investment Partners LLC's holdings in Hershey were worth $2,363,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in HSY. Ashton Thomas Securities LLC purchased a new stake in shares of Hershey in the 3rd quarter worth about $25,000. Grove Bank & Trust grew its position in Hershey by 248.0% in the fourth quarter. Grove Bank & Trust now owns 174 shares of the company's stock valued at $29,000 after acquiring an additional 124 shares in the last quarter. ST Germain D J Co. Inc. grew its position in shares of Hershey by 61.7% during the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company's stock worth $44,000 after buying an additional 100 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Hershey during the third quarter worth approximately $46,000. Finally, City State Bank lifted its stake in Hershey by 210.0% during the fourth quarter. City State Bank now owns 310 shares of the company's stock worth $52,000 after purchasing an additional 210 shares during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Stock Up 3.3 %

NYSE HSY traded up $5.20 during trading on Tuesday, reaching $163.08. 2,976,787 shares of the company's stock were exchanged, compared to its average volume of 2,046,605. The Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $211.92. The firm has a market capitalization of $33.00 billion, a PE ratio of 14.96, a P/E/G ratio of 4.89 and a beta of 0.37. The company has a current ratio of 0.96, a quick ratio of 0.54 and a debt-to-equity ratio of 0.68. The company's fifty day simple moving average is $161.78 and its 200-day simple moving average is $178.81.

Hershey (NYSE:HSY - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) 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%. Sell-side analysts predict that The Hershey Company will post 6.77 EPS for the current year.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 17th will be given a $1.37 dividend. The ex-dividend date is Friday, February 14th. This represents a $5.48 annualized dividend and a dividend yield of 3.36%. Hershey's dividend payout ratio is 50.28%.

Analyst Ratings Changes

HSY has been the topic of a number of recent research reports. Redburn Atlantic initiated coverage on Hershey in a research note on Tuesday, October 22nd. They issued a "sell" rating and a $165.00 target price on the stock. Citigroup raised Hershey from a "sell" rating to a "neutral" rating and lowered their price target for the company from $159.00 to $154.00 in a report on Friday, February 7th. Piper Sandler lowered Hershey from a "neutral" rating to an "underweight" rating and lowered their price target for the company from $153.00 to $120.00 in a report on Friday, January 31st. Stifel Nicolaus lowered their price target on Hershey from $170.00 to $160.00 and set a "hold" rating on the stock in a report on Friday, February 7th. Finally, Jefferies Financial Group lowered their target price on Hershey from $150.00 to $134.00 and set an "underperform" rating on the stock in a report on Tuesday, January 21st. Five investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $164.15.

Insider Activity

In other news, CAO Jennifer Mccalman sold 278 shares of the 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 completion of the sale, the chief accounting officer now directly owns 2,682 shares of the company's stock, valued at approximately $396,936. This represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.34% of the stock is owned by company insiders.

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.