Cannell & Spears LLC Reduces Stake in The Hershey Company (NYSE:HSY)

Cannell & Spears LLC lessened its stake in shares of The Hershey Company (NYSE:HSY) by 62.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,194 shares of the company’s stock after selling 1,965 shares during the quarter. Cannell & Spears LLC’s holdings in Hershey were worth $202,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new position in Hershey during the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC purchased a new position in shares of Hershey during the 4th quarter valued at $29,000. Grove Bank & Trust increased its holdings in shares of Hershey by 248.0% in the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 124 shares during the period. Lee Danner & Bass Inc. purchased a new stake in shares of Hershey in the fourth quarter worth $34,000. Finally, ST Germain D J Co. Inc. boosted its stake in Hershey by 61.7% during the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock valued at $44,000 after buying an additional 100 shares during the period. 57.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the business’s stock in a transaction 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. The trade was a 9.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

Hershey Stock Performance

NYSE:HSY opened at $169.55 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96. The Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $211.92. The business has a 50 day moving average price of $164.71 and a 200-day moving average price of $173.25. The firm has a market cap of $34.32 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32.

Hershey (NYSE:HSY) last announced its quarterly earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, beating 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%. Equities research analysts predict that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Friday, February 14th. Hershey’s payout ratio is 50.28%.

Analysts Set New Price Targets

HSY has been the topic of a number of research analyst reports. Wells Fargo & Company upped their target price on Hershey from $125.00 to $132.00 and gave the stock an “underweight” rating in a research note on Friday, March 14th. Bank of America restated a “neutral” rating and issued a $180.00 price objective on shares of Hershey in a research report on Thursday, December 12th. TD Cowen dropped 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. JPMorgan Chase & Co. cut their price target on shares of Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Mizuho lowered their price objective on shares of Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. Five equities research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company’s stock. According to MarketBeat.com, Hershey currently has a consensus rating of “Hold” and an average 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.