Tocqueville Asset Management L.P. Trims Stock Holdings in The Hershey Company (NYSE:HSY)

Tocqueville Asset Management L.P. cut its holdings in The Hershey Company (NYSE:HSY - Free Report) by 45.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,531 shares of the company's stock after selling 11,400 shares during the quarter. Tocqueville Asset Management L.P.'s holdings in Hershey were worth $2,291,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Vision Financial Markets LLC purchased a new stake in Hershey during the fourth quarter worth $29,000. Grove Bank & Trust boosted its position in Hershey by 248.0% during the fourth quarter. Grove Bank & Trust now owns 174 shares of the company's stock worth $29,000 after purchasing an additional 124 shares in the last quarter. ST Germain D J Co. Inc. boosted its position in 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 purchasing an additional 100 shares in the last quarter. City State Bank boosted its position 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 in the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in Hershey during the third quarter worth $60,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of the company's stock in a transaction dated 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 owns 2,682 shares of the company's stock, valued at $396,936. This represents a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.34% of the company's stock.

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Hershey Trading Up 1.8 %

NYSE:HSY traded up $2.91 on Friday, hitting $167.38. 3,046,959 shares of the stock were exchanged, compared to its average volume of 1,751,028. The stock has a market cap of $33.88 billion, a PE ratio of 15.36, a PEG ratio of 5.90 and a beta of 0.32. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68. The stock has a fifty day moving average of $162.61 and a 200-day moving average of $175.12. 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 announced its quarterly earnings results on Thursday, February 6th. The company reported $2.69 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%. As a group, equities analysts expect that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were given a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.27%. The ex-dividend date was Friday, February 14th. Hershey's payout ratio is 50.28%.

Analyst Upgrades and Downgrades

A number of analysts have commented on HSY shares. Bank of America reiterated a "neutral" rating and set a $180.00 target price on shares of Hershey in a research report on Thursday, December 12th. Piper Sandler downgraded Hershey from a "neutral" rating to an "underweight" rating and reduced their price objective for the company from $153.00 to $120.00 in a research report on Friday, January 31st. JPMorgan Chase & Co. reduced their price objective on Hershey from $171.00 to $151.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Mizuho reduced their price objective on Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. Finally, Jefferies Financial Group reduced their price objective on Hershey from $150.00 to $134.00 and set an "underperform" rating on the stock in a research report on Tuesday, January 21st. Five research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. Based on data from MarketBeat.com, Hershey presently has an average rating of "Hold" and an average target price of $163.75.

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.