Levin Capital Strategies L.P. Reduces Stock Position in The Hershey Company (NYSE:HSY)

Levin Capital Strategies L.P. lowered its holdings in shares of The Hershey Company (NYSE:HSY) by 42.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,000 shares of the company’s stock after selling 2,250 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Hershey were worth $508,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of HSY. Strategic Blueprint LLC bought a new stake in Hershey during the 3rd quarter valued at $227,000. First Trust Direct Indexing L.P. raised its position in Hershey by 8.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 4,393 shares of the company’s stock valued at $842,000 after purchasing an additional 351 shares in the last quarter. Pinnacle Associates Ltd. raised its position in Hershey by 31.2% during the 3rd quarter. Pinnacle Associates Ltd. now owns 2,298 shares of the company’s stock valued at $428,000 after purchasing an additional 547 shares in the last quarter. Financial Advocates Investment Management raised its position in Hershey by 7.4% during the 3rd quarter. Financial Advocates Investment Management now owns 2,126 shares of the company’s stock valued at $408,000 after purchasing an additional 147 shares in the last quarter. Finally, Weatherly Asset Management L. P. raised its position in Hershey by 4.0% during the 3rd quarter. Weatherly Asset Management L. P. now owns 2,812 shares of the company’s stock valued at $539,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Up 0.2 %

Shares of HSY stock opened at $172.68 on Friday. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $211.92. The stock’s fifty day moving average price is $160.58 and its 200 day moving average price is $177.17. 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 has a market cap of $34.94 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 5.90 and a beta of 0.37.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. On average, research analysts expect that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 17th will be paid a dividend of $1.37 per share. The ex-dividend date is Friday, February 14th. This represents a $5.48 annualized dividend and a yield of 3.17%. Hershey’s payout ratio is presently 50.28%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HSY. Mizuho decreased their target price on Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. UBS Group decreased their target price on Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Bank of America reaffirmed a “neutral” rating and set a $180.00 target price on shares of Hershey in a research report on Thursday, December 12th. JPMorgan Chase & Co. reduced their price target on Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Bernstein Bank reduced their price target on Hershey from $177.00 to $146.00 and set a “market perform” rating for the company 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. According to data from MarketBeat, Hershey currently has an average rating of “Hold” and a consensus target price of $164.15.

Insider Buying and Selling at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction of $41,144.00. Following the sale, the chief accounting officer now owns 2,682 shares in the company, valued at approximately $396,936. The trade was a 9.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.