Gulf International Bank UK Ltd Cuts Stock Holdings in The Hershey Company (NYSE:HSY)

Gulf International Bank UK Ltd decreased its stake in shares of The Hershey Company (NYSE:HSY) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,518 shares of the company’s stock after selling 125 shares during the period. Gulf International Bank UK Ltd’s holdings in Hershey were worth $1,950,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Mn Services Vermogensbeheer B.V. boosted its position in shares of Hershey by 1.7% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 58,469 shares of the company’s stock valued at $9,902,000 after buying an additional 1,000 shares during the last quarter. Pinnacle West Asset Management Inc. boosted its position in Hershey by 11.9% in the fourth quarter. Pinnacle West Asset Management Inc. now owns 2,020 shares of the company’s stock worth $342,000 after purchasing an additional 215 shares during the last quarter. Mengis Capital Management Inc. boosted its position in Hershey by 2.5% in the fourth quarter. Mengis Capital Management Inc. now owns 27,065 shares of the company’s stock worth $4,583,000 after purchasing an additional 670 shares during the last quarter. Pine Valley Investments Ltd Liability Co boosted its position in Hershey by 2.4% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 5,833 shares of the company’s stock worth $988,000 after purchasing an additional 136 shares during the last quarter. Finally, IFP Advisors Inc boosted its position in Hershey by 86.4% in the fourth quarter. IFP Advisors Inc now owns 12,992 shares of the company’s stock worth $2,200,000 after purchasing an additional 6,021 shares during the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Performance

NYSE:HSY opened at $172.68 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96. The Hershey Company has a 52-week low of $140.13 and a 52-week high of $211.92. The firm has a market cap of $34.94 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 5.90 and a beta of 0.37. The business’s fifty day moving average is $160.58 and its 200 day moving average is $177.32.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, topping 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 EPS for the current year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 17th will be paid a $1.37 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a yield of 3.17%. Hershey’s dividend payout ratio is currently 50.28%.

Analysts Set New Price Targets

Several research firms have weighed in on HSY. DA Davidson cut their price objective on Hershey from $164.00 to $149.00 and set a “neutral” rating on the stock in a research report on Monday, February 10th. Bernstein Bank cut their price objective on Hershey from $177.00 to $146.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 5th. Citigroup raised Hershey from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $159.00 to $154.00 in a research report on Friday, February 7th. JPMorgan Chase & Co. cut their price objective on Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Piper Sandler lowered Hershey from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $153.00 to $120.00 in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $164.15.

Insiders Place Their Bets

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was 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 in the company, 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 is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

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.