Peapack Gladstone Financial Corp Decreases Stock Holdings in The Hershey Company (NYSE:HSY)

Peapack Gladstone Financial Corp lessened its holdings in The Hershey Company (NYSE:HSY) by 10.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,077 shares of the company’s stock after selling 2,083 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Hershey were worth $3,061,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of HSY. Crowley Wealth Management Inc. acquired a new stake in shares of Hershey during the 4th quarter worth about $28,000. Grove Bank & Trust raised its holdings in Hershey by 248.0% during the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 124 shares in the last quarter. Vision Financial Markets LLC purchased a new stake in shares of Hershey during the 4th quarter worth approximately $29,000. Lee Danner & Bass Inc. acquired a new position in shares of Hershey in the 4th quarter valued at $34,000. Finally, ST Germain D J Co. Inc. grew its position in shares of Hershey by 61.7% in the 4th 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 last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of Hershey stock in a transaction 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. The trade was a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

HSY has been the subject of a number of research reports. Bernstein Bank reduced their price target on shares of Hershey from $177.00 to $146.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. JPMorgan Chase & Co. decreased their target price on Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Wells Fargo & Company lifted their price target on Hershey from $125.00 to $132.00 and gave the stock an “underweight” rating in a research report on Friday, March 14th. Stifel Nicolaus decreased their price objective on Hershey from $170.00 to $160.00 and set a “hold” rating for the company in a report on Friday, February 7th. Finally, Morgan Stanley began coverage on shares of Hershey in a report on Monday, March 24th. They issued an “equal weight” rating and a $183.00 target price on the stock. Five analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $162.50.

Hershey Stock Performance

Shares of HSY stock opened at $162.80 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 stock has a 50 day simple moving average of $165.73 and a 200-day simple moving average of $172.29. The company has a market cap of $32.95 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 5.90 and a beta of 0.28. 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 earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. On average, equities analysts forecast that The Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The business also recently announced 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. The ex-dividend date was Friday, February 14th. This represents a $5.48 annualized dividend and a yield of 3.37%. Hershey’s payout ratio is currently 50.28%.

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.