Isthmus Partners LLC Lowers Position in The Hershey Company (NYSE:HSY)

Isthmus Partners LLC cut its stake in shares of The Hershey Company (NYSE:HSY) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,231 shares of the company’s stock after selling 354 shares during the period. Isthmus Partners LLC’s holdings in Hershey were worth $11,724,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Hershey by 9.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 56,346 shares of the company’s stock worth $9,542,000 after purchasing an additional 5,079 shares during the last quarter. Sound View Wealth Advisors Group LLC lifted its position in shares of Hershey by 4.6% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 4,039 shares of the company’s stock worth $684,000 after buying an additional 177 shares in the last quarter. Sowell Financial Services LLC purchased a new position in shares of Hershey in the 4th quarter worth approximately $1,758,000. United Community Bank purchased a new position in shares of Hershey in the 4th quarter worth approximately $56,000. Finally, Rialto Wealth Management LLC bought a new position in shares of Hershey in the fourth quarter valued at approximately $221,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Price Performance

HSY stock opened at $185.11 on Monday. The firm has a 50 day simple moving average of $161.48 and a two-hundred day simple moving average of $176.40. 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 stock has a market cap of $37.47 billion, a PE ratio of 16.98, a P/E/G ratio of 5.90 and a beta of 0.32. The Hershey Company has a one year low of $140.13 and a one 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 (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. On average, analysts predict that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 17th will be issued a dividend of $1.37 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.96%. Hershey’s dividend payout ratio is 50.28%.

Insider Buying and Selling

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of Hershey stock in a transaction that occurred on 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 directly owns 2,682 shares of the company’s stock, valued at approximately $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on HSY. Piper Sandler cut Hershey from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $153.00 to $120.00 in a research note on Friday, January 31st. Mizuho lowered their price objective on shares of Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. Stifel Nicolaus reduced their target price on shares of Hershey from $170.00 to $160.00 and set a “hold” rating for the company in a research report on Friday, February 7th. DA Davidson decreased their price objective on Hershey from $164.00 to $149.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Finally, Wells Fargo & Company lowered their target price on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. Five research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. According to MarketBeat, Hershey presently has an average rating of “Hold” and an average price target 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.