State of New Jersey Common Pension Fund D Has $9.15 Million Stock Holdings in The Hershey Company (NYSE:HSY)

State of New Jersey Common Pension Fund D trimmed its stake in shares of The Hershey Company (NYSE:HSY) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,010 shares of the company’s stock after selling 408 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Hershey were worth $9,147,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in Hershey in the 3rd quarter valued at approximately $25,000. Grove Bank & Trust increased its position in Hershey by 248.0% in the 4th quarter. Grove Bank & Trust now owns 174 shares of the company’s stock valued at $29,000 after acquiring an additional 124 shares during the period. ST Germain D J Co. Inc. increased its position in Hershey by 61.7% in the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock valued at $44,000 after acquiring an additional 100 shares during the period. Peterson Financial Group Inc. acquired a new position in Hershey in the 3rd quarter valued at approximately $46,000. Finally, City State Bank increased its position in Hershey by 210.0% in the 4th quarter. City State Bank now owns 310 shares of the company’s stock valued at $52,000 after acquiring an additional 210 shares during the period. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the firm’s 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 approximately $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Barclays decreased their price target on shares of Hershey from $170.00 to $160.00 and set an “equal weight” rating for the company in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Hershey from $184.00 to $148.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. UBS Group decreased their price objective on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Piper Sandler cut shares of Hershey from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $153.00 to $120.00 in a research report on Friday, January 31st. Finally, DA Davidson decreased 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 sixteen have issued a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $164.15.

Hershey Stock Up 3.3 %

Shares of NYSE HSY opened at $163.08 on Wednesday. The firm has a market cap of $33.00 billion, a PE ratio of 14.96, a P/E/G ratio of 4.89 and a beta of 0.37. The Hershey Company has a 12-month low of $140.13 and a 12-month high of $211.92. The company’s fifty day simple moving average is $161.78 and its 200 day simple moving average is $178.81. The company has a quick ratio of 0.54, a current ratio of 0.96 and a debt-to-equity ratio of 0.68.

Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. As a group, sell-side analysts forecast that The Hershey Company will post 6.77 earnings per share for the current fiscal year.

Hershey Announces Dividend

The firm also recently disclosed 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. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend is Friday, February 14th. Hershey’s dividend payout ratio (DPR) is 50.28%.

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.