Lindbrook Capital LLC Cuts Holdings in The Hershey Company (NYSE:HSY)

Lindbrook Capital LLC cut its position in shares of The Hershey Company (NYSE:HSY) by 43.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 288 shares of the company’s stock after selling 224 shares during the quarter. Lindbrook Capital LLC’s holdings in Hershey were worth $49,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in Hershey by 5.8% during the third quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after purchasing an additional 386,670 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Hershey by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company’s stock valued at $785,003,000 after acquiring an additional 247,675 shares during the last quarter. Geode Capital Management LLC boosted its stake in Hershey by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,753,751 shares of the company’s stock valued at $717,606,000 after acquiring an additional 35,688 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Hershey by 66.7% in the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after acquiring an additional 389,404 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in Hershey by 3.2% in the third quarter. Stifel Financial Corp now owns 964,748 shares of the company’s stock valued at $185,027,000 after acquiring an additional 29,507 shares during the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Stock Performance

Hershey stock opened at $185.11 on Friday. The firm’s 50 day simple moving average is $161.48 and its 200 day simple moving average is $176.54. 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 firm has a market capitalization of $37.47 billion, a PE ratio of 16.98, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32. 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 net margin of 19.83% and a return on equity of 44.77%. As a group, analysts expect that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 17th will be paid a $1.37 dividend. The ex-dividend date is Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a yield of 2.96%. Hershey’s dividend payout ratio is presently 50.28%.

Insiders Place Their Bets

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the business’s 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 completion of the transaction, the chief accounting officer now owns 2,682 shares of the company’s stock, valued at $396,936. The trade was a 9.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HSY shares. DA Davidson dropped their target price on shares of Hershey from $164.00 to $149.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Mizuho dropped their target price on shares of Hershey from $170.00 to $140.00 in a research note on Wednesday, February 5th. TD Cowen dropped their target price on shares of Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Barclays dropped their target price on shares of Hershey from $170.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $178.00 target price on shares of Hershey in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. According to MarketBeat, 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.