Harbour Investments Inc. Decreases Stake in The Hershey Company (NYSE:HSY)

Harbour Investments Inc. lowered its position in The Hershey Company (NYSE:HSY) by 8.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,209 shares of the company’s stock after selling 476 shares during the quarter. Harbour Investments Inc.’s holdings in Hershey were worth $882,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in Hershey during the 4th quarter valued at about $80,978,000. Principal Financial Group Inc. grew its holdings in Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after buying an additional 389,404 shares in the last quarter. State Street Corp grew its holdings in Hershey by 5.8% during the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock valued at $1,348,127,000 after buying an additional 386,670 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Hershey by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company’s stock valued at $785,003,000 after buying an additional 247,675 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Hershey by 31.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company’s stock valued at $112,491,000 after buying an additional 139,831 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

Shares of Hershey stock opened at $167.67 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. The business’s 50 day simple moving average is $162.39 and its two-hundred day simple moving average is $175.37. The stock has a market capitalization of $33.94 billion, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32. The Hershey Company has a one year low of $140.13 and a one year high of $211.92.

Hershey (NYSE:HSY) last announced 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 return on equity of 44.77% and a net margin of 19.83%. Analysts forecast that The Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were paid a $1.37 dividend. The ex-dividend date was Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a yield of 3.27%. Hershey’s dividend payout ratio (DPR) is currently 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 transaction of $41,144.00. Following the transaction, the chief accounting officer now directly owns 2,682 shares of the company’s stock, valued at approximately $396,936. The trade was a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on HSY shares. Barclays dropped their price target on Hershey from $170.00 to $160.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. Wells Fargo & Company lifted their price target on Hershey from $125.00 to $132.00 and gave the company an “underweight” rating in a research report on Friday, March 14th. Piper Sandler downgraded Hershey from a “neutral” rating to an “underweight” rating and dropped their price target for the company from $153.00 to $120.00 in a research report on Friday, January 31st. DA Davidson dropped their price target 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, Mizuho dropped their price target on Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. Five equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $163.75.

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.