Howard Bailey Securities LLC Cuts Stock Holdings in The Hershey Company (NYSE:HSY)

Howard Bailey Securities LLC trimmed its holdings in shares of The Hershey Company (NYSE:HSY) by 23.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,617 shares of the company’s stock after selling 504 shares during the period. Howard Bailey Securities LLC’s holdings in Hershey were worth $274,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new position in shares of Hershey in the 3rd quarter valued at about $25,000. Grove Bank & Trust boosted its stake in shares of Hershey by 248.0% during the 4th quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after acquiring an additional 124 shares in the last quarter. ST Germain D J Co. Inc. boosted its stake in shares of Hershey by 61.7% during the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock worth $44,000 after acquiring an additional 100 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in Hershey in the 3rd quarter valued at approximately $46,000. Finally, City State Bank increased its stake in Hershey by 210.0% in the 4th quarter. City State Bank now owns 310 shares of the company’s stock valued at $52,000 after purchasing an additional 210 shares in the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Price Performance

HSY stock opened at $158.13 on Thursday. The stock has a 50-day simple moving average of $163.49 and a 200-day simple moving average of $179.86. The firm has a market cap of $32.00 billion, a P/E ratio of 14.51, a price-to-earnings-growth ratio of 4.89 and a beta of 0.37. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.54 and a current ratio of 0.96. The Hershey Company has a 1 year low of $140.13 and a 1 year high of $211.92.

Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. On average, equities analysts predict that The Hershey Company will post 6.77 earnings per share for the current fiscal 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 paid a dividend of $1.37 per share. The ex-dividend date is Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a yield of 3.47%. Hershey’s dividend payout ratio (DPR) is 50.28%.

Insiders Place Their Bets

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 transaction of $41,144.00. Following the sale, the chief accounting officer now directly owns 2,682 shares of the company’s stock, valued at approximately $396,936. This represents a 9.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on HSY. Royal Bank of Canada reissued a “sector perform” rating and issued a $178.00 target price on shares of Hershey in a report on Monday, February 3rd. Piper Sandler cut shares of Hershey from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $153.00 to $120.00 in a research note on Friday, January 31st. Citigroup raised Hershey from a “sell” rating to a “neutral” rating and reduced their target price for the company from $159.00 to $154.00 in a research note on Friday, February 7th. Wells Fargo & Company dropped their price objective on Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. Finally, JPMorgan Chase & Co. cut their price objective 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. Five investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $164.15.

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.