Commerce Bank Trims Stock Position in The Hershey Company (NYSE:HSY)

Commerce Bank decreased its position in The Hershey Company (NYSE:HSY) by 12.7% in the fourth quarter, Holdings Channel reports. The firm owned 8,235 shares of the company’s stock after selling 1,201 shares during the period. Commerce Bank’s holdings in Hershey were worth $1,395,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of HSY. Capital International Investors lifted its holdings in shares of Hershey by 31.4% in the 4th quarter. Capital International Investors now owns 12,460,147 shares of the company’s stock worth $2,110,126,000 after buying an additional 2,980,997 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Hershey by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company’s stock worth $785,003,000 after acquiring an additional 247,675 shares in the last quarter. Geode Capital Management LLC increased its position in Hershey by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 3,801,145 shares of the company’s stock valued at $642,139,000 after purchasing an additional 47,394 shares during the period. Invesco Ltd. raised its holdings in shares of Hershey by 7.3% in the 4th quarter. Invesco Ltd. now owns 1,282,681 shares of the company’s stock valued at $217,222,000 after purchasing an additional 87,498 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Hershey by 66.7% in the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after purchasing an additional 389,404 shares during the period. Institutional investors own 57.96% of the company’s stock.

Insider Activity

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the 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 $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.

Hershey Trading Down 0.1 %

Hershey stock opened at $166.44 on Tuesday. 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 firm has a market cap of $33.69 billion, a PE ratio of 15.27, a P/E/G ratio of 5.90 and a beta of 0.28. The stock’s 50 day simple moving average is $168.95 and its two-hundred day simple moving average is $170.10. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $211.92.

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

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date was Friday, February 14th. Hershey’s dividend payout ratio (DPR) is presently 50.28%.

Analysts Set New Price Targets

Several brokerages recently issued reports on HSY. Mizuho cut their price objective on shares of Hershey from $170.00 to $140.00 in a report on Wednesday, February 5th. Citigroup reduced their price target on Hershey from $173.00 to $165.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Piper Sandler lowered Hershey from a “neutral” rating to an “underweight” rating and cut their target price for the company from $153.00 to $120.00 in a research note on Friday, January 31st. Morgan Stanley decreased their price target on shares of Hershey from $183.00 to $177.00 and set an “equal weight” rating for the company in a research report on Thursday, April 17th. Finally, DA Davidson cut their price objective on shares of Hershey from $164.00 to $149.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Five equities research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. According to MarketBeat.com, Hershey presently has a consensus rating of “Hold” and a consensus target price of $163.35.

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.