Intact Investment Management Inc. Cuts Stake in The Hershey Company (NYSE:HSY)

Intact Investment Management Inc. cut its holdings in shares of The Hershey Company (NYSE:HSY) by 23.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,200 shares of the company’s stock after selling 7,300 shares during the period. Intact Investment Management Inc.’s holdings in Hershey were worth $4,098,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC acquired a new stake in shares of Hershey during the third quarter valued at about $25,000. Vision Financial Markets LLC acquired a new stake in shares of Hershey during the fourth quarter valued at about $29,000. Grove Bank & Trust grew its stake in shares of Hershey by 248.0% during the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock valued at $29,000 after acquiring an additional 124 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Hershey during the third quarter valued at about $46,000. Finally, ST Germain D J Co. Inc. grew its stake in shares of Hershey by 61.7% during the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock valued at $44,000 after acquiring an additional 100 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Price Performance

Shares of NYSE:HSY opened at $170.32 on Friday. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $211.92. The stock has a market cap of $34.47 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 5.90 and a beta of 0.32. The stock’s 50 day moving average price is $162.15 and its 200 day moving average price is $175.96. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64.

Hershey (NYSE:HSY) last announced 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%. Equities research analysts anticipate that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were issued a dividend of $1.37 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $5.48 annualized dividend and a yield of 3.22%. Hershey’s payout ratio is 50.28%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Wells Fargo & Company raised their target price on Hershey from $125.00 to $132.00 and gave the company an “underweight” rating in a research note on Friday. JPMorgan Chase & Co. decreased their price target on Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Citigroup upgraded Hershey from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $159.00 to $154.00 in a research note on Friday, February 7th. Piper Sandler downgraded Hershey from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $153.00 to $120.00 in a research note on Friday, January 31st. Finally, UBS Group decreased their price target on Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Five research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $163.75.

Insider Buying and Selling

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of Hershey stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the transaction, the chief accounting officer now owns 2,682 shares in the company, valued at approximately $396,936. The trade was a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.29% of the stock is owned by corporate 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.