Kentucky Retirement Systems Trims Position in The Hershey Company (NYSE:HSY)

Kentucky Retirement Systems lessened its holdings in shares of The Hershey Company (NYSE:HSY) by 1.4% during the fourth quarter, HoldingsChannel reports. The firm owned 10,148 shares of the company’s stock after selling 140 shares during the quarter. Kentucky Retirement Systems’ holdings in Hershey were worth $1,719,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Salomon & Ludwin LLC lifted its stake in shares of Hershey by 23.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 333 shares of the company’s stock worth $64,000 after purchasing an additional 63 shares during the period. Forum Financial Management LP lifted its stake in shares of Hershey by 1.6% during the 3rd quarter. Forum Financial Management LP now owns 4,130 shares of the company’s stock worth $792,000 after purchasing an additional 64 shares during the period. Avestar Capital LLC lifted its stake in shares of Hershey by 6.0% during the 3rd quarter. Avestar Capital LLC now owns 1,175 shares of the company’s stock worth $225,000 after purchasing an additional 67 shares during the period. Parthenon LLC lifted its stake in shares of Hershey by 0.3% during the 3rd quarter. Parthenon LLC now owns 24,240 shares of the company’s stock worth $4,649,000 after purchasing an additional 75 shares during the period. Finally, Kingsview Wealth Management LLC lifted its stake in shares of Hershey by 1.0% during the 3rd quarter. Kingsview Wealth Management LLC now owns 8,151 shares of the company’s stock worth $1,563,000 after purchasing an additional 80 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Up 4.2 %

Shares of Hershey stock opened at $173.03 on Friday. The business has a 50-day moving average of $160.47 and a 200-day moving average of $178.21. 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 company has a market capitalization of $35.01 billion, a PE ratio of 15.87, a P/E/G ratio of 5.90 and a beta of 0.37. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $211.92.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, beating 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 forecast that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 17th will be paid a dividend of $1.37 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $5.48 annualized dividend and a dividend yield of 3.17%. Hershey’s dividend payout ratio is presently 50.28%.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Barclays reduced their price target on Hershey from $170.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. Bank of America restated a “neutral” rating and set a $180.00 price objective on shares of Hershey in a report on Thursday, December 12th. JPMorgan Chase & Co. dropped their price objective on Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. UBS Group dropped their price objective on Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Mizuho dropped their price objective on Hershey from $170.00 to $140.00 in a report on Wednesday, February 5th. Five investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $164.15.

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.