Callahan Advisors LLC Buys Shares of 1,769 The Hershey Company (NYSE:HSY)

Callahan Advisors LLC purchased a new stake in shares of The Hershey Company (NYSE:HSY) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 1,769 shares of the company’s stock, valued at approximately $300,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in Hershey by 30,461.7% during the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock valued at $1,100,130,000 after buying an additional 571,766 shares during the period. Principal Financial Group Inc. grew its position in shares of Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after acquiring an additional 389,404 shares during the period. State Street Corp grew its position in shares of Hershey by 5.8% during the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock valued at $1,348,127,000 after acquiring an additional 386,670 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Hershey by 31.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company’s stock worth $112,491,000 after purchasing an additional 139,831 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Hershey by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock worth $841,476,000 after purchasing an additional 109,336 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Performance

Shares of NYSE:HSY opened at $163.08 on Wednesday. The firm has a fifty day simple moving average of $161.78 and a two-hundred day simple moving average of $178.81. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $33.00 billion, a P/E ratio of 14.96, a PEG ratio of 4.89 and a beta of 0.37. The Hershey Company has a 52 week low of $140.13 and a 52 week high of $211.92.

Hershey (NYSE:HSY) last issued its quarterly earnings data 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, analysts expect that The Hershey Company will post 6.77 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently disclosed 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. This represents a $5.48 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend is Friday, February 14th. Hershey’s payout ratio is 50.28%.

Insider Buying and Selling at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were 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. This trade represents a 9.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on HSY shares. Stifel Nicolaus reduced their price target on Hershey from $170.00 to $160.00 and set a “hold” rating for the company in a research report on Friday, February 7th. Piper Sandler lowered shares of Hershey from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $153.00 to $120.00 in a report on Friday, January 31st. Wells Fargo & Company lowered their price target on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. Bernstein Bank reduced their price objective on shares of Hershey from $177.00 to $146.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Finally, Mizuho lowered their target price on shares of Hershey from $170.00 to $140.00 in a research note on Wednesday, February 5th. Five analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $164.15.

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.