Sterling Capital Management LLC Reduces Stock Position in The Hershey Company (NYSE:HSY)

Sterling Capital Management LLC cut its stake in The Hershey Company (NYSE:HSY) by 34.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 576,438 shares of the company’s stock after selling 298,330 shares during the quarter. Hershey makes up about 1.3% of Sterling Capital Management LLC’s portfolio, making the stock its 18th largest position. Sterling Capital Management LLC’s holdings in Hershey were worth $97,620,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HSY. Crowley Wealth Management Inc. purchased a new position in Hershey during the fourth quarter worth about $28,000. Vision Financial Markets LLC bought a new position in shares of Hershey in the fourth quarter worth approximately $29,000. Grove Bank & Trust increased its position in shares of Hershey by 248.0% in 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 stake in Hershey in the fourth quarter valued at approximately $34,000. Finally, Covestor Ltd lifted its holdings in shares of Hershey by 42.5% during the 4th quarter. Covestor Ltd now owns 238 shares of the company’s stock worth $40,000 after acquiring an additional 71 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Hershey

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on HSY shares. JPMorgan Chase & Co. decreased their price objective on Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company upped their price objective on shares of Hershey from $125.00 to $132.00 and gave the company an “underweight” rating in a research note on Friday, March 14th. Jefferies Financial Group lowered their price target on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a research note on Tuesday, January 21st. Stifel Nicolaus reduced their price objective on Hershey from $170.00 to $160.00 and set a “hold” rating on the stock in a research note on Friday, February 7th. Finally, Morgan Stanley assumed coverage on Hershey in a report on Monday, March 24th. They set an “equal weight” rating and a $183.00 target price for the company. 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.com, Hershey currently has a consensus rating of “Hold” and an average target price of $162.50.

Hershey Trading Up 0.0 %

HSY opened at $164.23 on Friday. 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 Hershey Company has a 52 week low of $140.13 and a 52 week high of $211.92. The stock has a market cap of $33.24 billion, a PE ratio of 15.07, a PEG ratio of 5.90 and a beta of 0.28. The business has a 50 day moving average of $166.98 and a 200-day moving average of $171.47.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, February 6th. The company reported $2.69 EPS for the quarter, beating 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%. Equities research analysts predict 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%.

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.