CenterBook Partners LP Sells 2,870 Shares of The Hershey Company (NYSE:HSY)

CenterBook Partners LP trimmed its holdings in shares of The Hershey Company (NYSE:HSYFree Report) by 27.6% during the fourth quarter, HoldingsChannel reports. The firm owned 7,536 shares of the company’s stock after selling 2,870 shares during the quarter. CenterBook Partners LP’s holdings in Hershey were worth $1,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. BKM Wealth Management LLC bought a new stake in shares of Hershey during the 4th quarter worth $26,000. First Financial Corp IN purchased a new stake in Hershey in the 4th quarter worth about $29,000. Highlander Capital Management LLC increased its holdings in Hershey by 125.3% in the 4th quarter. Highlander Capital Management LLC now owns 169 shares of the company’s stock worth $32,000 after acquiring an additional 94 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in Hershey in the 4th quarter worth about $32,000. Finally, Pacific Center for Financial Services increased its holdings in Hershey by 176.1% in the 3rd quarter. Pacific Center for Financial Services now owns 196 shares of the company’s stock worth $39,000 after acquiring an additional 125 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HSY. Edward Jones reissued a “hold” rating on shares of Hershey in a report on Friday, April 19th. Wells Fargo & Company lifted their target price on Hershey from $200.00 to $205.00 and gave the company an “equal weight” rating in a report on Monday, May 6th. JPMorgan Chase & Co. lifted their target price on Hershey from $185.00 to $193.00 and gave the company a “neutral” rating in a report on Friday, February 9th. BNP Paribas lowered Hershey from an “outperform” rating to a “neutral” rating and set a $208.00 target price for the company. in a report on Tuesday, March 26th. Finally, Morgan Stanley lowered Hershey from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $191.00 to $183.00 in a report on Monday, February 12th. One investment 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $210.56.

Read Our Latest Research Report on Hershey

Insider Activity at Hershey

In related 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 sale, the chief financial officer now directly owns 38,728 shares of the company’s stock, valued at $7,196,824.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 4,500 shares of company stock worth $882,405 over the last quarter. 0.34% of the stock is owned by corporate insiders.

Hershey Trading Down 0.6 %

HSY stock traded down $1.26 during midday trading on Friday, hitting $196.06. The company had a trading volume of 715,656 shares, compared to its average volume of 1,507,106. The company has a current ratio of 0.97, a quick ratio of 0.64 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 $263.29. The stock’s 50 day moving average price is $195.83 and its 200 day moving average price is $192.55. The stock has a market cap of $39.65 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 4.41 and a beta of 0.37.

Hershey (NYSE:HSYGet Free Report) last announced its quarterly earnings data on Friday, May 3rd. The company reported $3.07 earnings per share for the quarter, beating the consensus estimate of $2.74 by $0.33. Hershey had a return on equity of 50.15% and a net margin of 18.13%. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the previous year, the company posted $2.96 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. As a group, equities research analysts expect that The Hershey Company will post 9.6 earnings per share for the current fiscal year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 17th will be issued a dividend of $1.37 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.80%. Hershey’s dividend payout ratio is presently 54.31%.

About Hershey

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding HSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hershey Company (NYSE:HSYFree Report).

Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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