Kanawha Capital Management LLC Lowers Position in The Hershey Company (NYSE:HSY)

Kanawha Capital Management LLC trimmed its holdings in shares of The Hershey Company (NYSE:HSY) by 7.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,500 shares of the company’s stock after selling 115 shares during the quarter. Kanawha Capital Management LLC’s holdings in Hershey were worth $254,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. V Square Quantitative Management LLC increased its position in shares of Hershey by 12.0% during the fourth quarter. V Square Quantitative Management LLC now owns 2,626 shares of the company’s stock valued at $445,000 after acquiring an additional 282 shares during the last quarter. Bogart Wealth LLC increased its position in shares of Hershey by 7.3% during the fourth quarter. Bogart Wealth LLC now owns 1,668 shares of the company’s stock valued at $282,000 after acquiring an additional 113 shares during the last quarter. Mcrae Capital Management Inc. increased its position in shares of Hershey by 15.6% during the fourth quarter. Mcrae Capital Management Inc. now owns 42,322 shares of the company’s stock valued at $7,167,000 after acquiring an additional 5,720 shares during the last quarter. Asset Management One Co. Ltd. increased its position in shares of Hershey by 5.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 86,625 shares of the company’s stock valued at $14,879,000 after acquiring an additional 4,596 shares during the last quarter. Finally, AFT Forsyth & Company Inc. increased its position in shares of Hershey by 17.4% during the fourth quarter. AFT Forsyth & Company Inc. now owns 2,072 shares of the company’s stock valued at $351,000 after acquiring an additional 307 shares during the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Price Performance

NYSE:HSY opened at $157.99 on Friday. The firm has a market capitalization of $31.97 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 4.89 and a beta of 0.37. The Hershey Company has a 52-week low of $140.13 and a 52-week high of $211.92. The stock has a fifty day moving average of $162.83 and a 200 day moving average of $179.58. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.54 and a current ratio of 0.96.

Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. On average, research analysts expect that The Hershey Company will post 6.77 EPS for the current fiscal year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 17th will be paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Friday, February 14th. Hershey’s dividend payout ratio (DPR) is currently 50.28%.

Insiders Place Their Bets

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of Hershey stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction of $41,144.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on HSY shares. Citigroup raised Hershey from a “sell” rating to a “neutral” rating and decreased their price target for the company from $159.00 to $154.00 in a research report on Friday, February 7th. Bank of America reissued a “neutral” rating and issued a $180.00 target price on shares of Hershey in a research report on Thursday, December 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $178.00 target price on shares of Hershey in a research report on Monday, February 3rd. Piper Sandler downgraded Hershey from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $153.00 to $120.00 in a research report on Friday, January 31st. Finally, TD Cowen decreased their target price on Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Five investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $164.15.

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.