The Hershey Company (NYSE:HSY) Shares Sold by Miramar Capital LLC

Miramar Capital LLC reduced its stake in shares of The Hershey Company (NYSE:HSY) by 45.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,608 shares of the company’s stock after selling 29,380 shares during the period. Hershey accounts for about 1.4% of Miramar Capital LLC’s holdings, making the stock its 29th biggest position. Miramar Capital LLC’s holdings in Hershey were worth $6,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of HSY. CWA Asset Management Group LLC acquired a new position in Hershey in the 3rd quarter valued at $719,000. First Fiduciary Investment Counsel Inc. raised its holdings in Hershey by 3.7% in the 3rd quarter. First Fiduciary Investment Counsel Inc. now owns 26,139 shares of the company’s stock valued at $5,013,000 after acquiring an additional 936 shares during the last quarter. Markel Group Inc. raised its holdings in Hershey by 67.4% in the 3rd quarter. Markel Group Inc. now owns 36,000 shares of the company’s stock valued at $6,904,000 after acquiring an additional 14,500 shares during the last quarter. Verdence Capital Advisors LLC raised its holdings in Hershey by 2.4% in the 3rd quarter. Verdence Capital Advisors LLC now owns 4,316 shares of the company’s stock valued at $828,000 after acquiring an additional 100 shares during the last quarter. Finally, Assetmark Inc. raised its holdings in Hershey by 125.5% in the 3rd quarter. Assetmark Inc. now owns 13,121 shares of the company’s stock valued at $2,516,000 after acquiring an additional 7,302 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on HSY shares. Jefferies Financial Group cut their price target on Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft dropped their price objective on Hershey from $184.00 to $148.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. TD Cowen dropped their price objective on Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Bernstein Bank dropped their price objective on Hershey from $177.00 to $146.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. Finally, Bank of America restated a “neutral” rating and set a $180.00 price objective on shares of Hershey in a report on Thursday, December 12th. Five investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $164.15.

Hershey Stock Performance

NYSE:HSY opened at $185.11 on Friday. 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 firm has a 50-day moving average of $161.48 and a two-hundred day moving average of $176.54. The stock has a market cap of $37.47 billion, a P/E ratio of 16.98, a PEG ratio of 5.90 and a beta of 0.32. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $211.92.

Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. 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 business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 17th will be paid a $1.37 dividend. The ex-dividend date is Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.96%. Hershey’s dividend payout ratio (DPR) is presently 50.28%.

Insider Activity

In other news, CAO Jennifer Mccalman sold 278 shares of the company’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 sale, the chief accounting officer now owns 2,682 shares in the company, valued at approximately $396,936. This represents a 9.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.