CIBC Private Wealth Group LLC Cuts Stock Holdings in The Hershey Company (NYSE:HSY)

CIBC Private Wealth Group LLC reduced its stake in The Hershey Company (NYSE:HSY) by 2.6% during the fourth quarter, HoldingsChannel reports. The firm owned 16,557 shares of the company’s stock after selling 434 shares during the period. CIBC Private Wealth Group LLC’s holdings in Hershey were worth $2,686,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Crowley Wealth Management Inc. purchased a new stake in shares of Hershey during the 4th quarter valued at $28,000. Vision Financial Markets LLC purchased a new stake in Hershey during the fourth quarter valued at about $29,000. Grove Bank & Trust lifted its stake 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 purchasing an additional 124 shares during the last quarter. Lee Danner & Bass Inc. purchased a new position in shares of Hershey in the 4th quarter worth about $34,000. Finally, ST Germain D J Co. Inc. boosted its holdings 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 worth $44,000 after purchasing an additional 100 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors.

Hershey Stock Performance

Hershey stock opened at $163.90 on Thursday. The Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $211.92. The stock’s 50 day simple moving average is $164.97 and its two-hundred day simple moving average is $173.19. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96. The stock has a market cap of $33.18 billion, a price-to-earnings ratio of 15.04, a PEG ratio of 5.90 and a beta of 0.32.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $2.69 earnings per share 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, analysts expect that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Friday, February 14th. Hershey’s dividend payout ratio (DPR) is presently 50.28%.

Insiders Place Their Bets

In other news, CAO Jennifer Mccalman sold 278 shares of the business’s stock in a transaction that occurred 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 directly owns 2,682 shares of the company’s stock, 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 through the SEC website. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Citigroup upgraded Hershey from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $159.00 to $154.00 in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Hershey from $184.00 to $148.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Stifel Nicolaus decreased their target price on shares of Hershey from $170.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday, February 7th. JPMorgan Chase & Co. cut their price target on shares of Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Morgan Stanley initiated coverage on Hershey in a report on Monday, March 24th. They issued an “equal weight” rating and a $183.00 price objective on the stock. Five investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. Based on data from MarketBeat, Hershey presently has an average rating of “Hold” and a consensus price target of $162.50.

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.