King Luther Capital Management Corp Lowers Stock Holdings in The Hershey Company (NYSE:HSY)

King Luther Capital Management Corp cut its holdings in The Hershey Company (NYSE:HSY) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,372 shares of the company’s stock after selling 77 shares during the quarter. King Luther Capital Management Corp’s holdings in Hershey were worth $232,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of HSY. Raymond James Financial Inc. purchased a new stake in Hershey during the 4th quarter worth approximately $80,978,000. Principal Financial Group Inc. increased its holdings in Hershey by 66.7% in the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after buying an additional 389,404 shares during the period. State Street Corp raised its position in Hershey by 5.8% during the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after buying an additional 386,670 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Hershey by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company’s stock valued at $785,003,000 after acquiring an additional 247,675 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Hershey by 31.3% during the third 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 during the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Price Performance

Shares of NYSE HSY opened at $170.32 on Friday. The company has a market cap of $34.47 billion, a PE ratio of 15.63, a P/E/G 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. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $211.92. The stock has a fifty day moving average price of $162.15 and a 200 day moving average price of $175.96.

Hershey (NYSE:HSY) last announced 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 return on equity of 44.77% and a net margin of 19.83%. Sell-side analysts forecast that The Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Friday, February 14th. Hershey’s dividend payout ratio is currently 50.28%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Piper Sandler cut shares of Hershey from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $153.00 to $120.00 in a research note on Friday, January 31st. Royal Bank of Canada restated a “sector perform” rating and issued a $178.00 price objective on shares of Hershey in a research report on Monday, February 3rd. DA Davidson cut their price objective on Hershey from $164.00 to $149.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. TD Cowen decreased their price target on shares of Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Finally, Mizuho dropped their price target 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 given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $163.75.

Insiders Place Their Bets

In other 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 transaction of $41,144.00. Following the sale, the chief accounting officer now owns 2,682 shares of the company’s stock, valued at $396,936. The trade was a 9.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is currently owned by company insiders.

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.