Envestnet Asset Management Inc. Cuts Stake in The Hershey Company (NYSE:HSY)

Envestnet Asset Management Inc. reduced its stake in shares of The Hershey Company (NYSE:HSY) by 25.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 655,797 shares of the company’s stock after selling 220,113 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Hershey were worth $111,059,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in shares of Hershey by 66.7% in 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 during the period. Woodstock Corp lifted its holdings in Hershey by 34.8% in the 4th quarter. Woodstock Corp now owns 6,896 shares of the company’s stock worth $1,168,000 after buying an additional 1,780 shares in the last quarter. Elevate Capital Advisors LLC purchased a new position in Hershey in the 4th quarter valued at about $1,939,000. Ethos Financial Group LLC grew its stake in shares of Hershey by 59.8% during the fourth quarter. Ethos Financial Group LLC now owns 3,962 shares of the company’s stock valued at $671,000 after acquiring an additional 1,483 shares in the last quarter. Finally, Pensionfund Sabic increased its position in shares of Hershey by 55.6% during the fourth quarter. Pensionfund Sabic now owns 8,400 shares of the company’s stock worth $1,423,000 after acquiring an additional 3,000 shares during the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on HSY shares. Morgan Stanley started coverage on Hershey in a report on Monday, March 24th. They issued an “equal weight” rating and a $183.00 price target for the company. Bank of America reiterated a “neutral” rating and set a $180.00 target price on shares of Hershey in a research note on Thursday, December 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $178.00 price target on shares of Hershey in a research report on Monday, February 3rd. Barclays cut 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. Finally, Mizuho decreased their price objective on shares of Hershey from $170.00 to $140.00 in a report on Wednesday, February 5th. Five investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. Based on data from MarketBeat.com, Hershey has a consensus rating of “Hold” and an average price target of $162.50.

Insider Activity

In related news, CAO Jennifer Mccalman sold 278 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the completion of the sale, the chief accounting officer now owns 2,682 shares of the company’s stock, valued at $396,936. This represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Hershey Stock Performance

HSY stock opened at $162.80 on Tuesday. The Hershey Company has a 1 year low of $140.13 and a 1 year high of $211.92. The stock has a market capitalization of $32.95 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 5.90 and a beta of 0.28. 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 stock’s fifty day moving average is $165.73 and its two-hundred day moving average is $172.29.

Hershey (NYSE:HSY) last issued its quarterly earnings data 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%. On average, research analysts predict that The Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were paid a $1.37 dividend. The ex-dividend date was Friday, February 14th. This represents a $5.48 annualized dividend and a dividend yield of 3.37%. Hershey’s payout ratio is 50.28%.

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.