Vestcor Inc Sells 7,879 Shares of The Hershey Company (NYSE:HSY)

Vestcor Inc lowered its stake in shares of The Hershey Company (NYSE:HSY - Free Report) by 8.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 80,467 shares of the company's stock after selling 7,879 shares during the period. Vestcor Inc's holdings in Hershey were worth $13,627,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Assetmark Inc. lifted its stake in shares of Hershey by 125.5% in the 3rd quarter. Assetmark Inc. now owns 13,121 shares of the company's stock worth $2,516,000 after purchasing an additional 7,302 shares during the period. Ashton Thomas Securities LLC bought a new position in shares of Hershey in the 3rd quarter worth approximately $25,000. Nations Financial Group Inc. IA ADV bought a new position in shares of Hershey in the 3rd quarter worth approximately $251,000. WCM Investment Management LLC lifted its stake in shares of Hershey by 311.7% in the 3rd quarter. WCM Investment Management LLC now owns 6,505 shares of the company's stock worth $1,258,000 after purchasing an additional 4,925 shares during the period. Finally, Entropy Technologies LP bought a new position in shares of Hershey in the 3rd quarter worth approximately $1,237,000. Institutional investors own 57.96% of the company's stock.

Hershey Trading Down 4.9 %

Shares of HSY opened at $170.73 on Thursday. The company's fifty day moving average is $162.06 and its 200 day moving average is $176.17. The Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $211.92. The stock has a market capitalization of $34.56 billion, a PE ratio of 15.66, a P/E/G ratio of 5.90 and a beta of 0.32. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96.

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Hershey (NYSE:HSY - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $2.69 earnings per share 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%. Sell-side analysts expect that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 17th will be given a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.21%. The ex-dividend date is Friday, February 14th. Hershey's dividend payout ratio is presently 50.28%.

Wall Street Analyst Weigh In

HSY has been the topic of several recent research reports. Citigroup upgraded shares of Hershey from a "sell" rating to a "neutral" rating and lowered their price objective for the stock from $159.00 to $154.00 in a research note on Friday, February 7th. DA Davidson reduced their target price 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. Stifel Nicolaus reduced their target price on shares of Hershey from $170.00 to $160.00 and set a "hold" rating for the company in a report on Friday, February 7th. TD Cowen reduced their target price on shares of Hershey from $190.00 to $172.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Finally, Piper Sandler lowered shares of Hershey from a "neutral" rating to an "underweight" rating and reduced their target price for the stock from $153.00 to $120.00 in a report on Friday, January 31st. Five research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $164.15.

Insider Buying and Selling

In related news, CAO Jennifer Mccalman sold 278 shares of the business's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the sale, the chief accounting officer now owns 2,682 shares in the company, valued at approximately $396,936. The trade was a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is currently owned by company insiders.

About Hershey

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.

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