Prudential Financial Inc. Reduces Stock Position in The Hershey Company (NYSE:HSY)

Prudential Financial Inc. trimmed its position in The Hershey Company (NYSE:HSY) by 13.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,933 shares of the company’s stock after selling 12,164 shares during the period. Prudential Financial Inc.’s holdings in Hershey were worth $13,367,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of HSY. Crowley Wealth Management Inc. purchased a new position in shares of Hershey during the fourth quarter valued at approximately $28,000. Grove Bank & Trust raised its holdings in Hershey by 248.0% in the 4th quarter. Grove Bank & Trust now owns 174 shares of the company’s stock valued at $29,000 after acquiring an additional 124 shares during the last quarter. Vision Financial Markets LLC purchased a new position in shares of Hershey during the 4th quarter worth $29,000. Lee Danner & Bass Inc. purchased a new position in shares of Hershey during the 4th quarter worth $34,000. Finally, ST Germain D J Co. Inc. grew its position 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 valued at $44,000 after purchasing an additional 100 shares during the period. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Stock Up 1.3 %

NYSE HSY opened at $170.79 on Friday. 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 Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $211.92. The business has a 50 day moving average price of $163.69 and a two-hundred day moving average price of $174.28. The stock has a market cap of $34.57 billion, a PE ratio of 15.67, a P/E/G ratio of 5.90 and a beta of 0.32.

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

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date was Friday, February 14th. Hershey’s payout ratio is 50.28%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on HSY shares. Citigroup upgraded Hershey from a “sell” rating to a “neutral” rating and reduced their target price for the stock from $159.00 to $154.00 in a research report on Friday, February 7th. Jefferies Financial Group cut their price objective on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a report on Tuesday, January 21st. Mizuho lowered their target price on shares of Hershey from $170.00 to $140.00 in a report on Wednesday, February 5th. DA Davidson dropped their price target on shares of Hershey from $164.00 to $149.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Finally, Barclays decreased their price target on shares of Hershey from $170.00 to $160.00 and set an “equal weight” rating on the stock in a report on Monday, February 10th. Five research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to data from MarketBeat, Hershey has a consensus rating of “Hold” and an average target price of $162.50.

Insider Buying and Selling

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of Hershey 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

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.