Bessemer Group Inc. Sells 7,605 Shares of The Hershey Company (NYSE:HSY)

Bessemer Group Inc. lowered its position in The Hershey Company (NYSE:HSY) by 3.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 214,403 shares of the company’s stock after selling 7,605 shares during the quarter. Bessemer Group Inc.’s holdings in Hershey were worth $36,308,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Azimuth Capital Investment Management LLC raised its stake in Hershey by 24.4% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 17,860 shares of the company’s stock valued at $3,025,000 after buying an additional 3,505 shares during the period. Bernard Wealth Management Corp. acquired a new position in shares of Hershey in the fourth quarter valued at $52,000. Bank of Nova Scotia raised its position in shares of Hershey by 4.7% in the fourth quarter. Bank of Nova Scotia now owns 19,782 shares of the company’s stock valued at $3,350,000 after purchasing an additional 885 shares during the period. Invesco Ltd. boosted its holdings in shares of Hershey by 7.3% during the 4th quarter. Invesco Ltd. now owns 1,282,681 shares of the company’s stock worth $217,222,000 after buying an additional 87,498 shares during the period. Finally, Certior Financial Group LLC bought a new position in Hershey in the 4th quarter valued at about $313,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Stock Up 3.3 %

Hershey stock opened at $164.29 on Thursday. The Hershey Company has a 12-month low of $140.13 and a 12-month high of $211.92. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $33.25 billion, a PE ratio of 15.07, a PEG ratio of 5.90 and a beta of 0.28. The firm’s fifty day moving average is $166.65 and its 200 day moving average is $171.67.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, topping 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%. As a group, sell-side analysts predict that The Hershey Company will post 6.12 EPS 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 dividend of $1.37 per share. The ex-dividend date was Friday, February 14th. This represents a $5.48 annualized dividend and a yield of 3.34%. Hershey’s payout ratio is 50.28%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. TD Cowen lowered their target price on Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Mizuho reduced their target price on Hershey from $170.00 to $140.00 in a report on Wednesday, February 5th. Jefferies Financial Group reduced their target price on Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a report on Tuesday, January 21st. DA Davidson dropped their target price on Hershey from $164.00 to $149.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Finally, Wells Fargo & Company upped their price target on shares of Hershey from $125.00 to $132.00 and gave the company an “underweight” rating in a research report on Friday, March 14th. Five analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $162.50.

Insider Activity

In related news, CAO Jennifer Mccalman sold 278 shares of the company’s stock in a transaction 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 sale, the chief accounting officer now owns 2,682 shares in the company, valued at approximately $396,936. This represents a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.

Hershey 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.