The Hershey Company (NYSE:HSY) Stock Position Reduced by Congress Asset Management Co.

Congress Asset Management Co. decreased its stake in The Hershey Company (NYSE:HSY) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,833 shares of the company’s stock after selling 2,502 shares during the quarter. Congress Asset Management Co.’s holdings in Hershey were worth $7,254,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Hershey during the third quarter worth $1,337,000. Principal Financial Group Inc. raised its stake in shares of Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after purchasing an additional 389,404 shares in the last quarter. Woodstock Corp raised its stake in shares of Hershey by 34.8% during the 4th quarter. Woodstock Corp now owns 6,896 shares of the company’s stock worth $1,168,000 after purchasing an additional 1,780 shares in the last quarter. Elevate Capital Advisors LLC bought a new stake in shares of Hershey in the 4th quarter valued at approximately $1,939,000. Finally, HighTower Advisors LLC increased its holdings in Hershey by 61.9% in the third quarter. HighTower Advisors LLC now owns 120,159 shares of the company’s stock worth $23,052,000 after buying an additional 45,936 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Insiders Place Their Bets

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were 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 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 document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.34% of the company’s stock.

Hershey Stock Performance

NYSE:HSY opened at $157.99 on Monday. The firm’s 50-day moving average is $162.49 and its 200-day moving average is $179.24. The company has a market cap of $31.97 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 4.89 and a beta of 0.37. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.54 and a current ratio of 0.96. The Hershey Company has a 52-week low of $140.13 and a 52-week high of $211.92.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) 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%. Equities research analysts anticipate that The Hershey Company will post 6.77 earnings per share for the current year.

Hershey Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, February 14th. This represents a $5.48 annualized dividend and a yield of 3.47%. Hershey’s dividend payout ratio (DPR) is currently 50.28%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HSY. UBS Group reduced their target price on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Redburn Atlantic assumed coverage on shares of Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective for the company. Royal Bank of Canada restated a “sector perform” rating and set a $178.00 target price on shares of Hershey in a report on Monday, February 3rd. Jefferies Financial Group decreased their price target on Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company cut their price objective on Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Five equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $164.15.

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.