The Hershey Company (NYSE:HSY) Shares Sold by Formidable Asset Management LLC

Formidable Asset Management LLC lowered its position in shares of The Hershey Company (NYSE:HSY) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,974 shares of the company’s stock after selling 376 shares during the period. Formidable Asset Management LLC’s holdings in Hershey were worth $673,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in HSY. Montag & Caldwell LLC acquired a new position in Hershey in the 4th quarter valued at about $25,000. Crowley Wealth Management Inc. acquired a new position in Hershey in the 4th quarter valued at about $28,000. Mpwm Advisory Solutions LLC acquired a new position in Hershey in the 4th quarter valued at about $28,000. Vision Financial Markets LLC acquired a new position in Hershey in the 4th quarter valued at about $29,000. Finally, Lee Danner & Bass Inc. acquired a new position in Hershey in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Price Performance

Shares of NYSE:HSY opened at $155.51 on Friday. The business’s 50 day simple moving average is $164.77 and its 200-day simple moving average is $166.94. The firm has a market capitalization of $31.51 billion, a price-to-earnings ratio of 14.27, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $208.03.

Hershey (NYSE:HSY) last announced its quarterly earnings results on Thursday, May 1st. The company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.94 by $0.15. The business had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.81 billion. Hershey had a return on equity of 44.77% and a net margin of 19.83%. The company’s quarterly revenue was down 13.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.07 EPS. As a group, equities analysts forecast that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend is Friday, May 16th. Hershey’s dividend payout ratio (DPR) is 67.57%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Piper Sandler cut Hershey from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $153.00 to $120.00 in a research report on Friday, January 31st. Morgan Stanley dropped their price target on Hershey from $183.00 to $177.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. DA Davidson boosted their price target on Hershey from $162.00 to $163.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. Royal Bank of Canada dropped their price target on Hershey from $178.00 to $175.00 and set a “sector perform” rating on the stock in a research report on Friday, May 2nd. Finally, UBS Group lowered their price objective on Hershey from $175.00 to $170.00 and set a “neutral” rating on the stock in a report on Friday, May 2nd. Five research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to MarketBeat.com, Hershey currently has an average rating of “Hold” and an average target price of $161.40.

About Hershey

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.