Wedbush Securities Inc. Sells 3,532 Shares of The Hershey Company (NYSE:HSY)

Wedbush Securities Inc. reduced its holdings in The Hershey Company (NYSE:HSY) by 36.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,149 shares of the company’s stock after selling 3,532 shares during the quarter. Wedbush Securities Inc.’s holdings in Hershey were worth $1,041,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in HSY. Principal Financial Group Inc. lifted its position 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 valued at $186,571,000 after acquiring an additional 389,404 shares during the period. Woodstock Corp increased its stake in Hershey by 34.8% in the fourth quarter. Woodstock Corp now owns 6,896 shares of the company’s stock valued at $1,168,000 after purchasing an additional 1,780 shares in the last quarter. Elevate Capital Advisors LLC acquired a new position in shares of Hershey during the fourth quarter valued at about $1,939,000. Ethos Financial Group LLC raised its holdings in shares of Hershey by 59.8% during the fourth quarter. Ethos Financial Group LLC now owns 3,962 shares of the company’s stock valued at $671,000 after purchasing an additional 1,483 shares during the period. Finally, Pensionfund Sabic grew its stake in shares of Hershey by 55.6% in the 4th quarter. Pensionfund Sabic now owns 8,400 shares of the company’s stock valued at $1,423,000 after buying an additional 3,000 shares during the period. 57.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the company’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 sale, the chief accounting officer now directly owns 2,682 shares of the company’s stock, valued at $396,936. This represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is owned by corporate insiders.

Hershey Stock Performance

Shares of HSY stock opened at $162.12 on Monday. The Hershey Company has a 52 week low of $140.13 and a 52 week high of $211.92. The firm’s 50-day simple moving average is $165.54 and its two-hundred day simple moving average is $172.52. The firm has a market cap of $32.81 billion, a price-to-earnings ratio of 14.87, a P/E/G ratio of 5.90 and a beta of 0.28. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96.

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

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were given a dividend of $1.37 per share. The ex-dividend date was Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.38%. Hershey’s dividend payout ratio is presently 50.28%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on HSY shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $178.00 price target on shares of Hershey in a report on Monday, February 3rd. Jefferies Financial Group reduced their price target on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a research report on Tuesday, January 21st. Mizuho decreased their price target on shares of Hershey from $170.00 to $140.00 in a research note on Wednesday, February 5th. TD Cowen dropped their price objective on shares of Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Five research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $162.50.

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.