Congress Wealth Management LLC DE Sells 6,897 Shares of The Hershey Company (NYSE:HSY)

Congress Wealth Management LLC DE decreased its position in The Hershey Company (NYSE:HSY) by 65.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,662 shares of the company’s stock after selling 6,897 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Hershey were worth $620,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. acquired a new position in Hershey during the 4th quarter valued at about $28,000. Grove Bank & Trust lifted its holdings in Hershey by 248.0% in the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock valued at $29,000 after buying an additional 124 shares during the period. Vision Financial Markets LLC bought a new position in Hershey in the fourth quarter valued at approximately $29,000. Lee Danner & Bass Inc. bought a new position in Hershey in the fourth quarter valued at approximately $34,000. Finally, ST Germain D J Co. Inc. grew its holdings in Hershey by 61.7% during the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock worth $44,000 after acquiring an additional 100 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 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 completion of the sale, the chief accounting officer now owns 2,682 shares in the company, valued at $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Bank of America restated a “neutral” rating and issued a $180.00 price target on shares of Hershey in a research report on Thursday, December 12th. DA Davidson decreased their target price on Hershey from $164.00 to $149.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. Stifel Nicolaus cut their price target on shares of Hershey from $170.00 to $160.00 and set a “hold” rating on the stock in a research report on Friday, February 7th. JPMorgan Chase & Co. decreased their price objective 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. Finally, Wells Fargo & Company increased their target price on shares of Hershey from $125.00 to $132.00 and gave the stock an “underweight” rating in a report on Friday, March 14th. Five investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $162.50.

Hershey Price Performance

Shares of HSY opened at $169.87 on Friday. The company has a 50 day moving average of $164.03 and a 200-day moving average of $174.04. 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 stock has a market capitalization of $34.38 billion, a P/E ratio of 15.58, a P/E/G ratio of 5.90 and a beta of 0.32. The Hershey Company has a twelve month low of $140.13 and a twelve month high of $211.92.

Hershey (NYSE:HSY) last issued its quarterly earnings results 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 net margin of 19.83% and a return on equity of 44.77%. As a group, equities research analysts forecast that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were given a dividend of $1.37 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $5.48 annualized dividend and a yield of 3.23%. Hershey’s dividend payout ratio (DPR) is presently 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.