Woodmont Investment Counsel LLC Lowers Position in The Hershey Company (NYSE:HSY)

Woodmont Investment Counsel LLC decreased its holdings in shares of The Hershey Company (NYSE:HSY) by 9.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,375 shares of the company’s stock after selling 481 shares during the period. Woodmont Investment Counsel LLC’s holdings in Hershey were worth $741,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HSY. Intech Investment Management LLC increased its position in shares of Hershey by 73.6% in the third quarter. Intech Investment Management LLC now owns 11,257 shares of the company’s stock worth $2,159,000 after purchasing an additional 4,772 shares during the last quarter. Meridian Wealth Management LLC purchased a new position in Hershey in the 3rd quarter worth approximately $334,000. Nwam LLC bought a new position in shares of Hershey in the 3rd quarter worth $329,000. Cerity Partners LLC raised its position in shares of Hershey by 63.2% during the 3rd quarter. Cerity Partners LLC now owns 45,606 shares of the company’s stock valued at $8,747,000 after buying an additional 17,654 shares in the last quarter. Finally, Kingsview Wealth Management LLC lifted its holdings in shares of Hershey by 1.0% during the 3rd quarter. Kingsview Wealth Management LLC now owns 8,151 shares of the company’s stock worth $1,563,000 after acquiring an additional 80 shares during the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Trading Up 0.7 %

NYSE HSY opened at $168.30 on Tuesday. The stock has a market cap of $34.07 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32. The Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $211.92. The stock has a 50 day simple moving average of $162.83 and a two-hundred day simple moving average of $174.59. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96.

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%. On average, analysts forecast that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.26%. The ex-dividend date was Friday, February 14th. Hershey’s dividend payout ratio is currently 50.28%.

Insider Buying and Selling

In other Hershey 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 transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

HSY has been the topic of a number of research analyst reports. Barclays reduced their target price on Hershey from $170.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Monday, February 10th. UBS Group decreased their price objective on Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Piper Sandler downgraded Hershey from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $153.00 to $120.00 in a research report on Friday, January 31st. JPMorgan Chase & Co. reduced their price target on shares of Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Bernstein Bank lowered their price objective on shares of Hershey from $177.00 to $146.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. Five investment analysts have rated the stock with a sell rating and seventeen have given a hold rating to the company’s stock. Based on data from MarketBeat, Hershey currently has an average rating of “Hold” and a consensus price target of $164.67.

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.