The Hershey Company (NYSE:HSY) Shares Sold by Ironwood Investment Counsel LLC

Ironwood Investment Counsel LLC trimmed its stake in shares of The Hershey Company (NYSE:HSY) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,004 shares of the company’s stock after selling 461 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in Hershey were worth $3,388,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in Hershey in the 4th quarter worth approximately $80,978,000. Principal Financial Group Inc. increased its stake in shares of Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after acquiring an additional 389,404 shares during the period. State Street Corp increased its position in shares of 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 purchasing an additional 386,670 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Hershey by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company’s stock worth $785,003,000 after buying an additional 247,675 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Hershey by 31.3% in the third 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 during the period. 57.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other 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 completion of the transaction, the chief accounting officer now directly owns 2,682 shares in the company, valued at $396,936. The trade was a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. UBS Group cut their price target on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. TD Cowen reduced their price objective on shares of Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. lowered their price objective 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. Piper Sandler lowered Hershey from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $153.00 to $120.00 in a report on Friday, January 31st. Finally, Jefferies Financial Group lowered their price target on Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a report on Tuesday, January 21st. Five investment 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 stock presently has a consensus rating of “Hold” and an average target price of $164.15.

Hershey Stock Performance

Shares of NYSE HSY opened at $171.67 on Friday. The business’s 50-day simple moving average is $162.12 and its 200-day simple moving average is $176.14. The Hershey Company has a 52 week low of $140.13 and a 52 week high of $211.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96. The firm has a market cap of $34.75 billion, a price-to-earnings ratio of 15.75, a P/E/G ratio of 5.90 and a beta of 0.32.

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, topping the consensus estimate of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. As a group, equities research analysts expect that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 17th will be paid a $1.37 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.19%. Hershey’s payout ratio is presently 50.28%.

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.