The Hershey Company (NYSE:HSY) Shares Purchased by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund boosted its stake in The Hershey Company (NYSE:HSY) by 21.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,305 shares of the company’s stock after buying an additional 933 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Hershey were worth $898,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in shares of Hershey during the third quarter valued at $25,000. Grove Bank & Trust grew its holdings in Hershey by 248.0% during the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after acquiring an additional 124 shares during the period. ST Germain D J Co. Inc. boosted its position in shares of Hershey by 61.7% in the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock valued at $44,000 after purchasing an additional 100 shares during the period. Peterson Financial Group Inc. acquired a new stake in Hershey during the 3rd quarter worth about $46,000. Finally, City State Bank boosted its position in Hershey by 210.0% during the 4th quarter. City State Bank now owns 310 shares of the company’s stock worth $52,000 after acquiring an additional 210 shares during the period. 57.96% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $148.00, for a total value of $41,144.00. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

HSY has been the topic of a number of recent analyst reports. Piper Sandler downgraded Hershey from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $153.00 to $120.00 in a research note on Friday, January 31st. UBS Group decreased their price objective on Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. TD Cowen decreased their price objective on Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Jefferies Financial Group decreased their price target on Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 21st. Finally, Mizuho reduced their price objective on Hershey from $170.00 to $140.00 in a research note on Wednesday, February 5th. Five analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Hershey currently has an average rating of “Hold” and an average target price of $164.15.

Hershey Stock Performance

Shares of Hershey stock opened at $163.08 on Wednesday. The company has a market cap of $33.00 billion, a PE ratio of 14.96, a price-to-earnings-growth ratio of 4.89 and a beta of 0.37. The Hershey Company has a 52 week low of $140.13 and a 52 week high of $211.92. The business has a 50 day moving average price of $161.78 and a 200-day moving average price of $178.81. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 0.68.

Hershey (NYSE:HSY) last released its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, beating 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 analysts anticipate that The Hershey Company will post 6.77 earnings per share for the current fiscal year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 17th will be given a dividend of $1.37 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $5.48 annualized dividend and a dividend yield of 3.36%. Hershey’s dividend payout ratio is currently 50.28%.

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.