Edge Capital Group LLC Has $289,000 Stake in The Hershey Company (NYSE:HSY)

Edge Capital Group LLC trimmed its position in shares of The Hershey Company (NYSE:HSY) by 14.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,709 shares of the company’s stock after selling 297 shares during the period. Edge Capital Group LLC’s holdings in Hershey were worth $289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Hershey during the 3rd quarter valued at approximately $1,337,000. Principal Financial Group Inc. lifted its holdings in shares of Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after buying an additional 389,404 shares during the last quarter. Woodstock Corp boosted its position in shares of Hershey by 34.8% in the fourth quarter. Woodstock Corp now owns 6,896 shares of the company’s stock valued at $1,168,000 after acquiring an additional 1,780 shares during the period. Elevate Capital Advisors LLC acquired a new stake in shares of Hershey in the fourth quarter worth $1,939,000. Finally, HighTower Advisors LLC increased its position in Hershey by 61.9% during the third quarter. HighTower Advisors LLC now owns 120,159 shares of the company’s stock worth $23,052,000 after acquiring an additional 45,936 shares during the period. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Price Performance

Shares of Hershey stock opened at $178.12 on Tuesday. The stock has a market capitalization of $36.04 billion, a price-to-earnings ratio of 16.34, a P/E/G ratio of 5.90 and a beta of 0.37. The firm’s 50-day moving average price is $160.47 and its two-hundred day moving average price is $177.74. 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 Hershey Company has a 1-year low of $140.13 and a 1-year high of $211.92.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, topping 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 predict that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 17th will be paid a $1.37 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.08%. Hershey’s dividend payout ratio (DPR) is presently 50.28%.

Analysts Set New Price Targets

HSY has been the subject of a number of research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $178.00 price target on shares of Hershey in a report on Monday, February 3rd. Wells Fargo & Company reduced their target price on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. TD Cowen decreased their target price on Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Bank of America reaffirmed a “neutral” rating and issued a $180.00 price target on shares of Hershey in a report on Thursday, December 12th. Finally, Piper Sandler lowered Hershey from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $153.00 to $120.00 in a report on Friday, January 31st. Five research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $164.15.

Insider Activity at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the firm’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 in the company, valued at approximately $396,936. This trade represents a 9.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by company insiders.

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.