Kovitz Investment Group Partners LLC Buys 33,055 Shares of The Hershey Company (NYSE:HSY)

Kovitz Investment Group Partners LLC lifted its stake in The Hershey Company (NYSE:HSY) by 568.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,867 shares of the company’s stock after acquiring an additional 33,055 shares during the period. Kovitz Investment Group Partners LLC’s holdings in Hershey were worth $6,582,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Montag & Caldwell LLC bought a new position in shares of Hershey in the fourth quarter valued at approximately $25,000. Crowley Wealth Management Inc. acquired a new position in Hershey in the 4th quarter valued at $28,000. Grove Bank & Trust raised its holdings in Hershey by 248.0% in the 4th quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after acquiring an additional 124 shares during the period. Vision Financial Markets LLC acquired a new position in Hershey during the 4th quarter worth $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Hershey in the fourth quarter valued at about $34,000. 57.96% of the stock is owned by institutional investors.

Insider Transactions at Hershey

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

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Stifel Nicolaus decreased their target price on Hershey from $170.00 to $160.00 and set a “hold” rating for the company in a research note on Friday, February 7th. Mizuho reduced their price objective on Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. JPMorgan Chase & Co. cut their target price on shares of Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $178.00 price target on shares of Hershey in a research report on Monday, February 3rd. Finally, DA Davidson cut their price objective on shares of Hershey from $164.00 to $149.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Five analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $163.35.

Hershey Trading Down 0.5 %

Shares of Hershey stock opened at $163.18 on Friday. The Hershey Company has a 12-month low of $140.13 and a 12-month high of $211.92. The stock has a market capitalization of $33.03 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 5.90 and a beta of 0.28. The company has a 50-day simple moving average of $169.37 and a 200 day simple moving average of $169.61. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68.

Hershey (NYSE:HSY) last posted 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 net margin of 19.83% and a return on equity of 44.77%. Research analysts expect that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.36%. The ex-dividend date was Friday, February 14th. Hershey’s payout ratio is presently 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.