The Hershey Company (NYSE:HSY) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. trimmed its position in shares of The Hershey Company (NYSE:HSY) by 23.2% during the 4th quarter, HoldingsChannel reports. The firm owned 24,200 shares of the company’s stock after selling 7,300 shares during the quarter. Intact Investment Management Inc.’s holdings in Hershey were worth $4,098,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Madison Investment Advisors LLC purchased a new position in Hershey during the 4th quarter worth approximately $16,713,000. Achmea Investment Management B.V. grew its position in Hershey by 7.4% during the 4th quarter. Achmea Investment Management B.V. now owns 19,493 shares of the company’s stock worth $3,301,000 after purchasing an additional 1,344 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Hershey by 317.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 40,209 shares of the company’s stock worth $6,809,000 after purchasing an additional 30,570 shares in the last quarter. Hopwood Financial Services Inc. purchased a new position in Hershey during the 4th quarter worth approximately $135,000. Finally, Sequoia Financial Advisors LLC grew its position in Hershey by 34.6% during the 4th quarter. Sequoia Financial Advisors LLC now owns 5,328 shares of the company’s stock worth $902,000 after purchasing an additional 1,370 shares in the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HSY has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Hershey from $184.00 to $148.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $178.00 price target on shares of Hershey in a report on Monday, February 3rd. Citigroup upgraded shares of Hershey from a “sell” rating to a “neutral” rating and lowered their price target for the company from $159.00 to $154.00 in a report on Friday, February 7th. Piper Sandler cut shares of Hershey from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $153.00 to $120.00 in a report on Friday, January 31st. Finally, TD Cowen lowered their price target on shares of Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Five investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $163.75.

Insider Transactions at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of the business’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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Hershey Stock Down 0.9 %

Hershey stock opened at $170.32 on Friday. The firm has a market cap of $34.47 billion, a price-to-earnings ratio of 15.63, 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 current ratio of 0.96 and a quick ratio of 0.64. The Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $211.92. The firm has a fifty day moving average price of $162.15 and a two-hundred day moving average price of $175.96.

Hershey (NYSE:HSY) last released its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, topping 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%. As a group, analysts forecast that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were issued a dividend of $1.37 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $5.48 annualized dividend and a dividend yield of 3.22%. Hershey’s payout ratio is 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.