The Hershey Company (NYSE:HSY) Position Cut by Zacks Investment Management

Zacks Investment Management lessened its holdings in shares of The Hershey Company (NYSE:HSY - Free Report) by 14.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 149,024 shares of the company's stock after selling 25,146 shares during the period. Zacks Investment Management owned approximately 0.07% of Hershey worth $25,237,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. NewEdge Advisors LLC boosted its holdings in Hershey by 5.6% during the fourth quarter. NewEdge Advisors LLC now owns 6,242 shares of the company's stock worth $1,057,000 after buying an additional 331 shares in the last quarter. Iron Gate Global Advisors LLC increased its stake in Hershey by 5.1% in the 4th quarter. Iron Gate Global Advisors LLC now owns 75,424 shares of the company's stock valued at $12,768,000 after purchasing an additional 3,643 shares in the last quarter. Insigneo Advisory Services LLC raised its holdings in Hershey by 36.8% during the fourth quarter. Insigneo Advisory Services LLC now owns 1,718 shares of the company's stock worth $291,000 after purchasing an additional 462 shares during the last quarter. Gabelli Funds LLC boosted its position in Hershey by 6.3% during the fourth quarter. Gabelli Funds LLC now owns 4,250 shares of the company's stock worth $720,000 after purchasing an additional 250 shares in the last quarter. Finally, Montag & Caldwell LLC purchased a new stake in Hershey during the fourth quarter worth $25,000. Hedge funds and other institutional investors own 57.96% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on HSY shares. Stifel Nicolaus cut their price target on Hershey from $170.00 to $160.00 and set a "hold" rating for the company in a research note on Friday, February 7th. UBS Group lifted their price objective on Hershey from $159.00 to $175.00 and gave the stock a "neutral" rating in a research report on Thursday, April 17th. Bernstein Bank lowered their target price on Hershey from $177.00 to $146.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. Citigroup cut their price target on Hershey from $173.00 to $165.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. decreased their price objective on Hershey from $171.00 to $151.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Five investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. Based on data from MarketBeat.com, Hershey presently has a consensus rating of "Hold" and an average target price of $163.35.

Hershey Stock Up 1.1 %

NYSE:HSY traded up $1.91 during mid-day trading on Tuesday, hitting $168.38. The company had a trading volume of 159,192 shares, compared to its average volume of 1,783,210. The business has a fifty day simple moving average of $168.95 and a 200-day simple moving average of $170.10. The firm has a market capitalization of $34.08 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 5.90 and a beta of 0.28. 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 Hershey Company has a 1 year low of $140.13 and a 1 year high of $211.92.

Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. Equities analysts forecast that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

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. This represents a $5.48 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend was Friday, February 14th. Hershey's dividend payout ratio is presently 50.28%.

Insiders Place Their Bets

In related news, CAO Jennifer Mccalman sold 278 shares of the company'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 directly owns 2,682 shares in the company, valued at $396,936. This represents a 9.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is owned by corporate 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.