Bahl & Gaynor Inc. Trims Stock Position in The Hershey Company (NYSE:HSY)

Bahl & Gaynor Inc. cut its holdings in shares of The Hershey Company (NYSE:HSY) by 19.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 102,050 shares of the company’s stock after selling 23,973 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Hershey were worth $17,282,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in HSY. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Hershey during the third quarter worth about $1,337,000. Principal Financial Group Inc. increased its stake in Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after acquiring an additional 389,404 shares during the last quarter. Woodstock Corp increased its stake in Hershey by 34.8% during the fourth quarter. Woodstock Corp now owns 6,896 shares of the company’s stock worth $1,168,000 after acquiring an additional 1,780 shares during the last quarter. Elevate Capital Advisors LLC acquired a new stake in Hershey during the fourth quarter worth about $1,939,000. Finally, HighTower Advisors LLC increased its stake in Hershey by 61.9% during the third quarter. HighTower Advisors LLC now owns 120,159 shares of the company’s stock worth $23,052,000 after acquiring an additional 45,936 shares during the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HSY has been the subject of several research analyst reports. Citigroup upgraded Hershey from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $159.00 to $154.00 in a research note on Friday, February 7th. Deutsche Bank Aktiengesellschaft lowered their target price on Hershey from $184.00 to $148.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. JPMorgan Chase & Co. lowered their target price on Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Bank of America reiterated a “neutral” rating and issued a $180.00 target price on shares of Hershey in a research note on Thursday, December 12th. Finally, Piper Sandler lowered Hershey from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $153.00 to $120.00 in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $164.15.

Insider Buying and Selling

In related news, CAO Jennifer Mccalman sold 278 shares of the firm’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 value of $41,144.00. Following the sale, the chief accounting officer now owns 2,682 shares of the company’s stock, valued at approximately $396,936. This trade represents a 9.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.34% of the company’s stock.

Hershey Trading Down 1.2 %

NYSE:HSY opened at $176.33 on Wednesday. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. The business’s 50 day moving average is $160.89 and its two-hundred day moving average is $176.75. The Hershey Company has a 52 week low of $140.13 and a 52 week high of $211.92. The company has a market cap of $35.69 billion, a PE ratio of 16.18, a P/E/G ratio of 5.90 and a beta of 0.37.

Hershey (NYSE:HSY) last released 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%. On average, analysts predict that The Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 17th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Friday, February 14th. Hershey’s dividend payout ratio (DPR) is 50.28%.

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.