Crestline Management LP Reduces Holdings in The Hershey Company (NYSE:HSY)

Crestline Management LP lessened its holdings in shares of The Hershey Company (NYSE:HSY) by 93.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,692 shares of the company’s stock after selling 40,530 shares during the quarter. Crestline Management LP’s holdings in Hershey were worth $456,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Capital International Investors raised its holdings in Hershey by 31.4% in the 4th quarter. Capital International Investors now owns 12,460,147 shares of the company’s stock valued at $2,110,126,000 after acquiring an additional 2,980,997 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Hershey in the fourth quarter valued at approximately $80,978,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Hershey by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company’s stock valued at $785,003,000 after purchasing an additional 247,675 shares during the last quarter. Freestone Grove Partners LP purchased a new position in Hershey during the fourth quarter worth approximately $27,902,000. Finally, Northern Trust Corp grew its holdings in Hershey by 10.8% in the 4th quarter. Northern Trust Corp now owns 1,578,957 shares of the company’s stock valued at $267,396,000 after buying an additional 154,238 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Up 0.5 %

Shares of Hershey stock opened at $171.00 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. The Hershey Company has a 52-week low of $140.13 and a 52-week high of $211.92. The company has a market capitalization of $34.61 billion, a P/E ratio of 15.69, a P/E/G ratio of 5.90 and a beta of 0.32. The company has a 50 day moving average of $168.20 and a 200 day moving average of $168.38.

Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.15. The business had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Hershey had a net margin of 19.83% and a return on equity of 44.77%. The company’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.07 EPS. As a group, research analysts forecast that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be issued a $1.37 dividend. The ex-dividend date is Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.20%. Hershey’s payout ratio is currently 67.57%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HSY. Barclays lifted their price target on Hershey from $160.00 to $165.00 and gave the stock an “equal weight” rating in a report on Monday, May 5th. Mizuho reduced their target price on shares of Hershey from $170.00 to $140.00 in a research note on Wednesday, February 5th. JPMorgan Chase & Co. cut their price target on shares of Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Citigroup decreased their price objective on Hershey from $173.00 to $165.00 and set a “neutral” rating on the stock in a report on Tuesday, April 15th. Finally, 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 note on Friday, March 14th. Five investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $161.40.

Hershey 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.