Concord Wealth Partners Sells 68 Shares of The Hershey Company (NYSE:HSY)

Concord Wealth Partners decreased its position in The Hershey Company (NYSE:HSY) by 18.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 291 shares of the company’s stock after selling 68 shares during the quarter. Concord Wealth Partners’ holdings in Hershey were worth $54,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Nordea Investment Management AB raised its position in Hershey by 143.7% in the third quarter. Nordea Investment Management AB now owns 2,465,403 shares of the company’s stock worth $496,039,000 after acquiring an additional 1,453,819 shares during the period. International Assets Investment Management LLC raised its stake in shares of Hershey by 18,495.8% in the fourth quarter. International Assets Investment Management LLC now owns 295,673 shares of the company’s stock worth $55,125,000 after buying an additional 294,083 shares during the period. Vanguard Group Inc. lifted its position in shares of Hershey by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 14,911,173 shares of the company’s stock valued at $2,983,427,000 after buying an additional 222,960 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Hershey during the 3rd quarter valued at approximately $33,672,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Hershey by 270.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 197,312 shares of the company’s stock worth $39,478,000 after acquiring an additional 144,103 shares in the last quarter. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Up 1.0 %

NYSE HSY opened at $197.92 on Friday. The company has a quick ratio of 0.52, a current ratio of 0.97 and a debt-to-equity ratio of 0.92. The Hershey Company has a 52 week low of $178.82 and a 52 week high of $275.89. The firm has a market capitalization of $40.37 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 3.01 and a beta of 0.33. The company has a fifty day moving average of $191.85 and a two-hundred day moving average of $190.72.

Hershey (NYSE:HSY) last released its quarterly earnings results on Friday, May 3rd. The company reported $3.07 EPS for the quarter, topping analysts’ consensus estimates of $2.72 by $0.35. Hershey had a net margin of 16.67% and a return on equity of 51.79%. The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same period in the previous year, the company earned $2.96 EPS. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, analysts predict that The Hershey Company will post 9.6 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 17th will be paid a dividend of $1.37 per share. The ex-dividend date is Thursday, May 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.77%. Hershey’s dividend payout ratio is 60.55%.

Analysts Set New Price Targets

Several brokerages have recently commented on HSY. Morgan Stanley downgraded shares of Hershey from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $191.00 to $183.00 in a research report on Monday, February 12th. Wells Fargo & Company cut their target price on Hershey from $205.00 to $200.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. BNP Paribas cut Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 price target on the stock. in a report on Tuesday, March 26th. Piper Sandler cut their price objective on shares of Hershey from $200.00 to $179.00 and set a “neutral” rating for the company in a report on Monday, April 15th. Finally, Barclays boosted their target price on shares of Hershey from $200.00 to $210.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $212.78.

Insider Transactions at Hershey

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $185.83, for a total value of $278,745.00. Following the transaction, the chief financial officer now owns 38,728 shares of the company’s stock, valued at approximately $7,196,824.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.34% of the company’s stock.

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.