The Hershey Company (NYSE:HSY) Shares Sold by Korea Investment CORP

Korea Investment CORP decreased its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 75.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,489 shares of the company's stock after selling 120,838 shares during the period. Korea Investment CORP's holdings in Hershey were worth $6,687,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in Hershey by 5.8% in the third quarter. State Street Corp now owns 7,029,551 shares of the company's stock worth $1,348,127,000 after buying an additional 386,670 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Hershey by 5.6% during the fourth 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 during the period. Geode Capital Management LLC grew its stake in shares of Hershey by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,753,751 shares of the company's stock valued at $717,606,000 after buying an additional 35,688 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Hershey by 66.7% in 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 period. Finally, Stifel Financial Corp lifted its stake in shares of Hershey by 3.2% in the 3rd quarter. Stifel Financial Corp now owns 964,748 shares of the company's stock valued at $185,027,000 after acquiring an additional 29,507 shares during the last quarter. Institutional investors own 57.96% of the company's stock.

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Insiders Place Their Bets

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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Mizuho cut their target price on Hershey from $170.00 to $140.00 in a research note on Wednesday, February 5th. Jefferies Financial Group cut their price target on shares of Hershey from $150.00 to $134.00 and set an "underperform" rating on the stock in a report on Tuesday, January 21st. DA Davidson decreased their price objective on shares of Hershey from $164.00 to $149.00 and set a "neutral" rating for the company in a report on Monday, February 10th. Bernstein Bank cut their target price on shares of Hershey from $177.00 to $146.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 5th. Finally, Stifel Nicolaus decreased their price target on shares of Hershey from $170.00 to $160.00 and set a "hold" rating for the company in a research note on Friday, February 7th. Five analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $162.50.

Hershey Stock Performance

Hershey stock traded up $2.83 during midday trading on Thursday, hitting $166.78. 3,021,928 shares of the company were exchanged, compared to its average volume of 1,789,040. The business has a fifty day simple moving average of $164.97 and a two-hundred day simple moving average of $173.19. 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 firm has a market capitalization of $33.76 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32. The Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $211.92.

Hershey (NYSE:HSY - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. On average, sell-side analysts forecast that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were issued a $1.37 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a yield of 3.29%. Hershey's payout ratio is 50.28%.

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.