Wedbush Securities Inc. Sells 3,532 Shares of The Hershey Company (NYSE:HSY)

Wedbush Securities Inc. cut its stake in shares of The Hershey Company (NYSE:HSY) by 36.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,149 shares of the company’s stock after selling 3,532 shares during the period. Wedbush Securities Inc.’s holdings in Hershey were worth $1,041,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in HSY. Crowley Wealth Management Inc. acquired a new stake in Hershey during the 4th quarter worth approximately $28,000. Vision Financial Markets LLC acquired a new stake in shares of Hershey during the fourth quarter worth $29,000. Grove Bank & Trust boosted its position 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 acquiring an additional 124 shares during the period. Lee Danner & Bass Inc. acquired a new position in shares of Hershey in the fourth quarter valued at about $34,000. Finally, ST Germain D J Co. Inc. increased its position in Hershey by 61.7% during the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock worth $44,000 after acquiring an additional 100 shares during the period. Institutional investors own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HSY. Jefferies Financial Group cut their price objective on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a report on Tuesday, January 21st. Stifel Nicolaus reduced their price target on Hershey from $170.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday, February 7th. DA Davidson lowered their price objective on Hershey from $164.00 to $149.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $178.00 target price on shares of Hershey in a research report on Monday, February 3rd. Finally, Bank of America restated a “neutral” rating and issued a $180.00 price target on shares of Hershey in a research report on Thursday, December 12th. Five investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $162.50.

Hershey Price Performance

Hershey stock opened at $162.12 on Monday. The stock has a 50-day moving average price of $165.54 and a two-hundred day moving average price of $172.52. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $211.92. The company has a market capitalization of $32.81 billion, a PE ratio of 14.87, a P/E/G ratio of 5.90 and a beta of 0.28. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. Analysts expect that The Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Friday, February 14th. Hershey’s dividend payout ratio is currently 50.28%.

Insider Buying and Selling

In other 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 completion of the transaction, the chief accounting officer now directly owns 2,682 shares in the company, valued at $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% 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.