Sterling Capital Management LLC Sells 3,281 Shares of Hershey Company (The) $HSY

Sterling Capital Management LLC decreased its stake in Hershey Company (The) (NYSE:HSY) by 42.1% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,514 shares of the company’s stock after selling 3,281 shares during the period. Sterling Capital Management LLC’s holdings in Hershey were worth $938,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in HSY. JPL Wealth Management LLC acquired a new stake in Hershey during the 3rd quarter valued at approximately $26,000. Reflection Asset Management acquired a new position in shares of Hershey in the 4th quarter worth approximately $26,000. Bard Associates Inc. acquired a new position in shares of Hershey in the 4th quarter worth approximately $26,000. Laurel Wealth Advisors LLC bought a new stake in shares of Hershey in the 4th quarter valued at $27,000. Finally, Manchester Capital Management LLC boosted its stake in shares of Hershey by 123.0% in the 4th quarter. Manchester Capital Management LLC now owns 165 shares of the company’s stock valued at $30,000 after purchasing an additional 91 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors.

Hershey Stock Down 3.5%

Hershey stock opened at $175.18 on Wednesday. The company has a market capitalization of $35.53 billion, a PE ratio of 32.62, a PEG ratio of 1.09 and a beta of 0.09. Hershey Company has a 12-month low of $160.07 and a 12-month high of $239.48. The firm’s fifty day moving average is $185.55 and its 200 day moving average is $198.15. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 0.99.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, April 30th. The company reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.31. Hershey had a net margin of 9.12% and a return on equity of 28.98%. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same period last year, the company posted $2.09 earnings per share. The business’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts predict that Hershey Company will post 8.45 EPS for the current fiscal year.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were paid a $1.452 dividend. The ex-dividend date was Friday, May 15th. This represents a $5.81 annualized dividend and a dividend yield of 3.3%. Hershey’s dividend payout ratio (DPR) is currently 108.19%.

Insider Activity at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $173.43, for a total value of $260,145.00. Following the completion of the sale, the chief financial officer directly owned 54,695 shares of the company’s stock, valued at $9,485,753.85. The trade was a 2.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HSY. Stifel Nicolaus lowered their target price on shares of Hershey from $230.00 to $215.00 and set a “hold” rating for the company in a research note on Tuesday, April 21st. BTIG Research assumed coverage on shares of Hershey in a research report on Monday, April 13th. They set a “neutral” rating on the stock. Zacks Research lowered Hershey from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on Hershey from $212.00 to $200.00 and set a “hold” rating on the stock in a research note on Monday, March 30th. Finally, Evercore upgraded Hershey from an “in-line” rating to an “outperform” rating and set a $255.00 target price on the stock in a research report on Wednesday, May 27th. Seven investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to MarketBeat.com, Hershey has a consensus rating of “Hold” and an average price target of $217.50.

Hershey Company Profile

The Hershey Company (NYSE: HSY) is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey’s business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey’s product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey’s, Reese’s, Hershey’s Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.