Carret Asset Management LLC Lowers Stock Holdings in The Hershey Company (NYSE:HSY)

Carret Asset Management LLC lessened its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 14.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,500 shares of the company's stock after selling 2,700 shares during the quarter. Carret Asset Management LLC's holdings in Hershey were worth $2,625,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in Hershey by 5.8% during the 3rd 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 during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Hershey by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company's stock worth $785,003,000 after acquiring an additional 247,675 shares during the period. Geode Capital Management LLC lifted its position in Hershey by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 3,753,751 shares of the company's stock worth $717,606,000 after acquiring an additional 35,688 shares during the period. Principal Financial Group Inc. lifted its position in Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company's stock worth $186,571,000 after acquiring an additional 389,404 shares during the period. Finally, Stifel Financial Corp lifted its position in Hershey by 3.2% during the 3rd quarter. Stifel Financial Corp now owns 964,748 shares of the company's stock worth $185,027,000 after acquiring an additional 29,507 shares during the period. Hedge funds and other institutional investors own 57.96% of the company's stock.

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Hershey Price Performance

HSY stock traded down $1.23 during midday trading on Tuesday, hitting $169.26. 991,855 shares of the stock were exchanged, compared to its average volume of 1,759,075. The stock's 50-day moving average price is $162.22 and its 200-day moving average price is $175.60. The stock has a market cap of $34.26 billion, a price-to-earnings ratio of 15.53, a PEG 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. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings data 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 return on equity of 44.77% and a net margin of 19.83%. Research analysts predict that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.24%. The ex-dividend date was Friday, February 14th. Hershey's payout ratio is 50.28%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HSY shares. Stifel Nicolaus decreased their price objective on Hershey from $170.00 to $160.00 and set a "hold" rating for the company in a research report on Friday, February 7th. DA Davidson decreased 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. Deutsche Bank Aktiengesellschaft decreased their price objective on Hershey from $184.00 to $148.00 and set a "hold" rating for the company in a research report on Thursday, January 23rd. Barclays decreased their price objective on Hershey from $170.00 to $160.00 and set an "equal weight" rating for the company in a research report on Monday, February 10th. Finally, TD Cowen decreased their price objective on Hershey from $190.00 to $172.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $163.75.

Insiders Place Their Bets

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction 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 approximately $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.34% of the stock is currently owned by company insiders.

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.