Maryland State Retirement & Pension System Lowers Holdings in The Hershey Company (NYSE:HSY)

Maryland State Retirement & Pension System trimmed its holdings in The Hershey Company (NYSE:HSY) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,776 shares of the company’s stock after selling 653 shares during the period. Maryland State Retirement & Pension System’s holdings in Hershey were worth $1,317,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Vision Financial Markets LLC purchased a new position in shares of Hershey in the fourth quarter valued at about $29,000. Grove Bank & Trust increased its holdings in shares of Hershey by 248.0% in the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 124 shares during the last quarter. ST Germain D J Co. Inc. increased its holdings in shares of Hershey by 61.7% in the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock worth $44,000 after purchasing an additional 100 shares during the last quarter. City State Bank increased its holdings in shares of Hershey by 210.0% in the fourth quarter. City State Bank now owns 310 shares of the company’s stock worth $52,000 after purchasing an additional 210 shares during the last quarter. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Hershey in the fourth quarter worth about $54,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Stock Up 1.8 %

Shares of NYSE:HSY opened at $167.38 on Friday. The Hershey Company has a 1 year low of $140.13 and a 1 year high of $211.92. The business has a 50 day simple moving average of $162.61 and a two-hundred day simple moving average of $174.96. The firm has a market capitalization of $33.88 billion, a PE ratio of 15.36, a price-to-earnings-growth 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.

Hershey (NYSE:HSY) last announced its quarterly earnings results on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, beating 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, equities analysts predict that The Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were issued a $1.37 dividend. The ex-dividend date was Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.27%. Hershey’s payout ratio is 50.28%.

Wall Street Analysts Forecast Growth

HSY has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reduced their target price on Hershey from $184.00 to $148.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. DA Davidson reduced their target price on Hershey from $164.00 to $149.00 and set a “neutral” rating on the stock in a report on Monday, February 10th. Jefferies Financial Group reduced their target price on Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a report on Tuesday, January 21st. Barclays reduced their price objective 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. Finally, TD Cowen reduced their price objective on Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Five analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $163.75.

Insider Activity at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of the business’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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is owned by company insiders.

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.