Commonwealth Retirement Investments LLC Sells 702 Shares of The Hershey Company (NYSE:HSY)

Commonwealth Retirement Investments LLC trimmed its holdings in shares of The Hershey Company (NYSE:HSY) by 9.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,023 shares of the company’s stock after selling 702 shares during the quarter. Commonwealth Retirement Investments LLC’s holdings in Hershey were worth $1,189,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of Hershey by 107.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 17,609 shares of the company’s stock worth $3,377,000 after purchasing an additional 9,129 shares during the last quarter. Forsta AP Fonden lifted its position in shares of Hershey by 77.0% during the third quarter. Forsta AP Fonden now owns 45,500 shares of the company’s stock valued at $8,726,000 after buying an additional 19,800 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Hershey by 19.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 101,624 shares of the company’s stock valued at $19,490,000 after buying an additional 16,345 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Hershey by 21.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 45,821 shares of the company’s stock valued at $8,864,000 after buying an additional 8,134 shares in the last quarter. Finally, First Financial Bankshares Inc purchased a new position in shares of Hershey in the 3rd quarter worth approximately $10,647,000. Institutional investors own 57.96% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Jennifer Mccalman sold 278 shares of the business’s stock in a transaction 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 directly owns 2,682 shares in the company, valued at $396,936. The trade was a 9.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.34% of the company’s stock.

Hershey Trading Up 3.0 %

Shares of Hershey stock opened at $178.12 on Tuesday. The stock has a market cap of $36.04 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 5.90 and a beta of 0.37. The firm has a fifty day moving average price of $160.47 and a 200 day moving average price of $177.74. The Hershey Company has a 1 year low of $140.13 and a 1 year high of $211.92. 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 released its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, beating analysts’ consensus estimates 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 predict that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 17th will be given a $1.37 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $5.48 annualized dividend and a yield of 3.08%. Hershey’s dividend payout ratio is presently 50.28%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Bank of America reissued a “neutral” rating and set a $180.00 target price on shares of Hershey in a research report on Thursday, December 12th. Wells Fargo & Company decreased their price objective on Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a report on Friday, January 17th. DA Davidson dropped their target price on Hershey from $164.00 to $149.00 and set a “neutral” rating on the stock in a research note on Monday, February 10th. Piper Sandler cut Hershey from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $153.00 to $120.00 in a research note on Friday, January 31st. Finally, UBS Group lowered their price target on Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Five research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.