California Public Employees Retirement System Trims Stock Position in The Hershey Company (NYSE:HSY)

California Public Employees Retirement System trimmed its holdings in The Hershey Company (NYSE:HSY) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 668,195 shares of the company’s stock after selling 12,018 shares during the period. California Public Employees Retirement System owned approximately 0.33% of Hershey worth $113,159,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UNIVEST FINANCIAL Corp lifted its holdings in shares of Hershey by 1.5% in the 4th quarter. UNIVEST FINANCIAL Corp now owns 4,500 shares of the company’s stock worth $762,000 after acquiring an additional 68 shares during the last quarter. OLD Point Trust & Financial Services N A raised its position in Hershey by 2.2% in the fourth quarter. OLD Point Trust & Financial Services N A now owns 3,240 shares of the company’s stock valued at $549,000 after purchasing an additional 70 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Hershey by 1.3% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,546 shares of the company’s stock worth $939,000 after purchasing an additional 70 shares in the last quarter. Private Trust Co. NA lifted its stake in Hershey by 1.5% during the fourth quarter. Private Trust Co. NA now owns 5,438 shares of the company’s stock worth $921,000 after purchasing an additional 81 shares in the last quarter. Finally, Waterfront Wealth Inc. boosted its position in shares of Hershey by 1.4% during the fourth quarter. Waterfront Wealth Inc. now owns 5,744 shares of the company’s stock worth $973,000 after buying an additional 82 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Insider Transactions at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction on Monday, February 3rd. The shares were 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 $396,936. This represents a 9.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.34% of the company’s stock.

Hershey Price Performance

Shares of NYSE:HSY opened at $170.99 on Tuesday. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $211.92. The firm has a market capitalization of $34.61 billion, a P/E ratio of 15.69, a P/E/G ratio of 5.90 and a beta of 0.32. 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 company’s fifty day moving average price is $164.39 and its 200 day moving average price is $173.48.

Hershey (NYSE:HSY) last posted its 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%. As a group, sell-side analysts predict that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.20%. The ex-dividend date was Friday, February 14th. Hershey’s payout ratio is currently 50.28%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on HSY shares. Barclays decreased 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. Mizuho lowered their price objective on shares of Hershey from $170.00 to $140.00 in a research note on Wednesday, February 5th. Citigroup raised shares of Hershey from a “sell” rating to a “neutral” rating and cut their target price for the stock from $159.00 to $154.00 in a research note on Friday, February 7th. DA Davidson decreased their price target on shares of Hershey from $164.00 to $149.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Finally, Bernstein Bank cut their price objective on Hershey from $177.00 to $146.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Five investment analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $162.50.

About Hershey

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.