Avantax Advisory Services Inc. Reduces Position in The Hershey Company (NYSE:HSY)

Avantax Advisory Services Inc. lessened its holdings in shares of The Hershey Company (NYSE:HSY) by 34.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,179 shares of the company’s stock after selling 5,841 shares during the period. Avantax Advisory Services Inc.’s holdings in Hershey were worth $1,893,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. State Street Corp boosted its holdings in Hershey by 5.8% in 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 period. Charles Schwab Investment Management Inc. lifted its position in shares of Hershey by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company’s stock worth $785,003,000 after acquiring an additional 247,675 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Hershey by 1.0% in the third quarter. Geode Capital Management LLC now owns 3,753,751 shares of the company’s stock worth $717,606,000 after acquiring an additional 35,688 shares during the period. Principal Financial Group Inc. grew its position in shares of Hershey by 66.7% in the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after purchasing an additional 389,404 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Hershey by 3.2% during the 3rd quarter. Stifel Financial Corp now owns 964,748 shares of the company’s stock valued at $185,027,000 after purchasing an additional 29,507 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on HSY shares. Barclays cut their target price on Hershey from $170.00 to $160.00 and set an “equal weight” rating for the company in a research note on Monday, February 10th. TD Cowen reduced their price objective on shares of Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. UBS Group lowered their target price on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Wells Fargo & Company boosted their price target on shares of Hershey from $125.00 to $132.00 and gave the company an “underweight” rating in a research report on Friday. Finally, Jefferies Financial Group lowered their price objective on Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 21st. Five equities research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $163.75.

Insider Buying and Selling at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of Hershey stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the transaction, the chief accounting officer now directly owns 2,682 shares of the company’s stock, valued at $396,936. The trade was a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.34% of the company’s stock.

Hershey Price Performance

HSY stock opened at $170.51 on Tuesday. The firm has a market cap of $34.51 billion, a P/E ratio of 15.64, a P/E/G ratio of 5.90 and a beta of 0.32. The firm’s fifty day moving average is $162.22 and its 200 day moving average is $175.60. The Hershey Company has a 52 week low of $140.13 and a 52 week high of $211.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) 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%. Research analysts predict that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were given a $1.37 dividend. The ex-dividend date was Friday, February 14th. This represents a $5.48 annualized dividend and a yield of 3.21%. Hershey’s payout ratio is currently 50.28%.

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.