Zacks Investment Management Sells 25,146 Shares of The Hershey Company (NYSE:HSY)

Zacks Investment Management lessened its stake in shares of The Hershey Company (NYSE:HSY) by 14.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 149,024 shares of the company’s stock after selling 25,146 shares during the period. Zacks Investment Management’s holdings in Hershey were worth $25,237,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HSY. Montag & Caldwell LLC bought a new stake in shares of Hershey during the fourth quarter worth about $25,000. Crowley Wealth Management Inc. purchased a new stake in shares of Hershey in the fourth quarter worth approximately $28,000. Grove Bank & Trust lifted its holdings in shares of Hershey by 248.0% in the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 124 shares in the last quarter. Vision Financial Markets LLC purchased a new position in shares of Hershey during the fourth quarter valued at approximately $29,000. Finally, Lee Danner & Bass Inc. bought a new stake in Hershey during the fourth quarter worth $34,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on HSY shares. Morgan Stanley initiated coverage on shares of Hershey in a report on Monday, March 24th. They set an “equal weight” rating and a $183.00 price objective on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $178.00 price objective on shares of Hershey in a research report on Monday, February 3rd. Mizuho dropped their target price on shares of Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. TD Cowen reduced their target price on Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Finally, Jefferies Financial Group dropped their price target on Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a report on Tuesday, January 21st. Five investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company’s stock. According to MarketBeat.com, Hershey has an average rating of “Hold” and an average price target of $163.05.

Insider Buying and Selling at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was 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 approximately $396,936. This trade represents a 9.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.28% of the stock is currently owned by company insiders.

Hershey Price Performance

Hershey stock opened at $164.42 on Thursday. 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 one year low of $140.13 and a one year high of $211.92. The firm has a market capitalization of $33.28 billion, a P/E ratio of 15.08, a PEG ratio of 5.90 and a beta of 0.28. The business has a fifty day moving average price of $168.38 and a 200-day moving average price of $170.93.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, topping the consensus estimate of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. As a group, equities research analysts forecast 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 given a dividend of $1.37 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.33%. Hershey’s dividend payout ratio (DPR) is presently 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.