Federated Hermes Inc. Lowers Holdings in The Hershey Company (NYSE:HSY)

Federated Hermes Inc. decreased its holdings in shares of The Hershey Company (NYSE:HSY - Free Report) by 97.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 795 shares of the company's stock after selling 35,558 shares during the period. Federated Hermes Inc.'s holdings in Hershey were worth $135,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new stake in Hershey during the 4th quarter valued at about $80,978,000. Principal Financial Group Inc. boosted its position in Hershey by 66.7% in the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company's stock valued at $186,571,000 after buying an additional 389,404 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Hershey by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company's stock worth $785,003,000 after buying an additional 247,675 shares during the period. KLP Kapitalforvaltning AS purchased a new position in Hershey during the 4th quarter worth approximately $21,439,000. Finally, Proficio Capital Partners LLC acquired a new stake in Hershey during the 4th quarter valued at approximately $18,273,000. Institutional investors and hedge funds own 57.96% of the company's stock.

Hershey Price Performance

Shares of NYSE HSY traded down $1.33 during mid-day trading on Thursday, reaching $165.27. The company's stock had a trading volume of 170,512 shares, compared to its average volume of 1,779,230. The stock has a 50-day moving average of $169.25 and a two-hundred day moving average of $170.06. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96. The stock has a market capitalization of $33.45 billion, a P/E ratio of 15.16, a P/E/G ratio of 5.90 and a beta of 0.28. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $211.92.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $2.69 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. On average, equities research analysts anticipate that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Friday, February 14th. Hershey's dividend payout ratio (DPR) is currently 50.28%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HSY. Royal Bank of Canada reissued a "sector perform" rating and set a $178.00 target price on shares of Hershey in a report on Monday, February 3rd. Wells Fargo & Company lifted their price objective on Hershey from $125.00 to $132.00 and gave the company an "underweight" rating in a research note on Friday, March 14th. Mizuho decreased their price objective on Hershey from $170.00 to $140.00 in a report on Wednesday, February 5th. Morgan Stanley decreased their price target on Hershey from $183.00 to $177.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Finally, DA Davidson dropped their price objective on shares of Hershey from $164.00 to $149.00 and set a "neutral" rating on the stock in a research note on Monday, February 10th. Five investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $163.35.

Insider Buying and Selling at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $148.00, for a total transaction of $41,144.00. Following the transaction, the chief accounting officer now owns 2,682 shares of the company's stock, valued at approximately $396,936. The trade was a 9.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.