The Hershey Company (NYSE:HSY) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its position in shares of The Hershey Company (NYSE:HSY) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,148 shares of the company’s stock after selling 140 shares during the period. Kentucky Retirement Systems’ holdings in Hershey were worth $1,719,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in HSY. Ashton Thomas Securities LLC acquired a new stake in shares of Hershey during the third quarter worth about $25,000. Grove Bank & Trust increased its position in shares of Hershey by 248.0% during the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 124 shares in the last quarter. ST Germain D J Co. Inc. increased its position 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 worth $44,000 after purchasing an additional 100 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Hershey during the third quarter worth about $46,000. Finally, City State Bank increased its position in shares of Hershey by 210.0% during the fourth quarter. City State Bank now owns 310 shares of the company’s stock worth $52,000 after purchasing an additional 210 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Price Performance

HSY stock opened at $173.03 on Friday. The firm has a 50 day moving average of $160.47 and a 200-day moving average of $178.21. The Hershey Company has a 12-month low of $140.13 and a 12-month high of $211.92. 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 company has a market cap of $35.01 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 5.90 and a beta of 0.37.

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, 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 analysts expect that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors 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 3.17%. Hershey’s dividend payout ratio is currently 50.28%.

Insider Buying and Selling

In related news, CAO Jennifer Mccalman sold 278 shares of Hershey stock in a transaction that occurred on 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. The trade was a 9.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $178.00 price target on shares of Hershey in a report on Monday, February 3rd. Bank of America reaffirmed a “neutral” rating and issued a $180.00 price objective on shares of Hershey in a report on Thursday, December 12th. Citigroup raised Hershey from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $159.00 to $154.00 in a report on Friday, February 7th. Piper Sandler lowered Hershey from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $153.00 to $120.00 in a report on Friday, January 31st. Finally, UBS Group lowered 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. Five equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $164.15.

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.