TCTC Holdings LLC Sells 342 Shares of The Hershey Company (NYSE:HSY)

TCTC Holdings LLC trimmed its position in shares of The Hershey Company (NYSE:HSY) by 61.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 216 shares of the company’s stock after selling 342 shares during the period. TCTC Holdings LLC’s holdings in Hershey were worth $41,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LPL Financial LLC boosted its position in Hershey by 10.0% in the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock valued at $58,951,000 after buying an additional 29,246 shares during the period. CreativeOne Wealth LLC lifted its position in shares of Hershey by 179.4% in the 1st quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock worth $1,353,000 after purchasing an additional 4,468 shares during the period. SG Americas Securities LLC boosted its stake in shares of Hershey by 239.2% during the first quarter. SG Americas Securities LLC now owns 22,035 shares of the company’s stock valued at $4,286,000 after purchasing an additional 15,538 shares in the last quarter. Sei Investments Co. increased its holdings in Hershey by 2.2% during the first quarter. Sei Investments Co. now owns 54,540 shares of the company’s stock valued at $10,608,000 after buying an additional 1,168 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Hershey by 20.1% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 15,716 shares of the company’s stock worth $2,986,000 after buying an additional 2,635 shares in the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Jennifer Mccalman sold 538 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the completion of the sale, the chief accounting officer now owns 3,238 shares of the company’s stock, valued at $644,912.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is currently owned by company insiders.

Hershey Stock Up 1.6 %

HSY opened at $175.67 on Friday. The Hershey Company has a fifty-two week low of $171.67 and a fifty-two week high of $211.92. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.48 and a current ratio of 0.86. The stock has a market capitalization of $35.54 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 4.09 and a beta of 0.38. The company has a fifty day moving average of $189.17 and a two-hundred day moving average of $192.13.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, November 7th. The company reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.16). The business had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. On average, research analysts expect that The Hershey Company will post 9.39 earnings per share for the current year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s payout ratio is presently 60.89%.

Analyst Upgrades and Downgrades

HSY has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut their price target on Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday, October 14th. Citigroup downgraded shares of Hershey from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $195.00 to $182.00 in a report on Tuesday, August 27th. Piper Sandler raised their price target on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Friday. Bank of America reduced their price objective on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group lowered their target price on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research note on Thursday, October 31st. Five investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $190.56.

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.