The Hershey Company (NYSE:HSY) Stock Position Reduced by Summit Place Financial Advisors LLC

Summit Place Financial Advisors LLC cut its stake in shares of The Hershey Company (NYSE:HSY) by 4.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 13,938 shares of the company’s stock after selling 605 shares during the period. Summit Place Financial Advisors LLC’s holdings in Hershey were worth $2,360,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Hershey during the third quarter valued at approximately $1,337,000. Principal Financial Group Inc. grew its position in Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after purchasing an additional 389,404 shares in the last quarter. Woodstock Corp grew its position in Hershey by 34.8% during 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 purchased a new position in Hershey during the fourth quarter valued at approximately $1,939,000. Finally, HighTower Advisors LLC grew its position 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 acquiring an additional 45,936 shares in the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was 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 directly owns 2,682 shares of the company’s stock, valued at approximately $396,936. This represents a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.29% of the company’s stock.

Hershey Trading Up 3.3 %

HSY opened at $163.08 on Wednesday. The firm’s fifty day simple moving average is $161.78 and its 200 day simple moving average is $178.81. The stock has a market capitalization of $33.00 billion, a P/E ratio of 14.96, a P/E/G ratio of 5.61 and a beta of 0.37. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $211.92.

Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, topping 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%. As a group, research analysts anticipate 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. Stockholders of record on Monday, February 17th will be given a dividend of $1.37 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $5.48 annualized dividend and a dividend yield of 3.36%. Hershey’s dividend payout ratio is currently 50.28%.

Analyst Ratings Changes

Several analysts have commented on the stock. TD Cowen decreased their target price on shares of Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Barclays lowered their price target on shares of Hershey from $170.00 to $160.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. Bank of America reissued a “neutral” rating and set a $180.00 price objective on shares of Hershey in a report on Thursday, December 12th. JPMorgan Chase & Co. decreased their price objective on shares of Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Redburn Atlantic started coverage on shares of Hershey in a report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective on the stock. Five analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. According to MarketBeat.com, Hershey has an average rating of “Hold” and an average target price of $164.15.

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.