Truist Financial Corp Reduces Stock Position in The Hershey Company (NYSE:HSY)

Truist Financial Corp lessened its holdings in The Hershey Company (NYSE:HSY - Free Report) by 38.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 258,125 shares of the company's stock after selling 158,735 shares during the quarter. Truist Financial Corp owned approximately 0.13% of Hershey worth $43,713,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of HSY. Ashton Thomas Securities LLC bought a new position in Hershey in the third quarter worth approximately $25,000. Grove Bank & Trust lifted its holdings in shares of Hershey by 248.0% in the 4th quarter. Grove Bank & Trust now owns 174 shares of the company's stock worth $29,000 after buying an additional 124 shares during the period. ST Germain D J Co. Inc. grew its position in shares of Hershey by 61.7% during the 4th 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. purchased a new position in shares of Hershey during the third quarter valued at $46,000. Finally, City State Bank raised its holdings in shares of Hershey by 210.0% in the fourth quarter. City State Bank now owns 310 shares of the company's stock valued at $52,000 after acquiring an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company's stock.

Insider Transactions at Hershey

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 transaction of $41,144.00. Following the transaction, the chief accounting officer now owns 2,682 shares in the company, valued at $396,936. This trade represents a 9.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.34% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on HSY shares. Citigroup upgraded shares of Hershey from a "sell" rating to a "neutral" rating and dropped their target price for the stock from $159.00 to $154.00 in a report on Friday, February 7th. Jefferies Financial Group dropped their price objective on shares of Hershey from $150.00 to $134.00 and set an "underperform" rating on the stock in a research note on Tuesday, January 21st. Bank of America reissued a "neutral" rating and issued a $180.00 price objective on shares of Hershey in a research note on Thursday, December 12th. JPMorgan Chase & Co. cut their price target on Hershey from $171.00 to $151.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $178.00 price objective on shares of Hershey in a research note on Monday, February 3rd. Five equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $164.15.

Hershey Stock Performance

NYSE:HSY traded up $6.93 during midday trading on Friday, hitting $173.03. The company's stock had a trading volume of 4,114,899 shares, compared to its average volume of 2,072,895. 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 current ratio of 0.96 and a quick ratio of 0.64. The firm has a market cap of $35.01 billion, a P/E ratio of 15.87, a P/E/G ratio of 5.82 and a beta of 0.37. The firm's 50 day moving average is $160.67 and its 200-day moving average is $178.37.

Hershey (NYSE:HSY - Get Free Report) last issued 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%. Equities analysts anticipate that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.17%. Hershey's dividend payout ratio (DPR) is currently 50.28%.

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.