SNS Financial Group LLC Trims Stock Holdings in The Hershey Company (NYSE:HSY)

SNS Financial Group LLC decreased its position in The Hershey Company (NYSE:HSY) by 10.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,622 shares of the company’s stock after selling 660 shares during the period. SNS Financial Group LLC’s holdings in Hershey were worth $952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parthenon LLC raised its stake in Hershey by 1.5% in the 4th quarter. Parthenon LLC now owns 24,615 shares of the company’s stock worth $4,169,000 after acquiring an additional 375 shares during the last quarter. Bryn Mawr Capital Management LLC grew its position in Hershey by 13.2% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 7,975 shares of the company’s stock worth $1,351,000 after purchasing an additional 932 shares during the period. Private Advisor Group LLC grew its position in Hershey by 70.2% during the 4th quarter. Private Advisor Group LLC now owns 46,144 shares of the company’s stock worth $7,815,000 after purchasing an additional 19,038 shares during the period. Global Retirement Partners LLC grew its position in Hershey by 5.0% during the 4th quarter. Global Retirement Partners LLC now owns 2,240 shares of the company’s stock worth $379,000 after purchasing an additional 107 shares during the period. Finally, Northcape Wealth Management LLC acquired a new stake in Hershey during the 4th quarter worth about $221,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on HSY shares. Deutsche Bank Aktiengesellschaft cut their price target on Hershey from $184.00 to $148.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Bernstein Bank cut their price target 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. JPMorgan Chase & Co. cut their price target on Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Wells Fargo & Company dropped their target price on Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Finally, Piper Sandler cut Hershey from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $153.00 to $120.00 in a research report on Friday, January 31st. Five investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $164.15.

Hershey Trading Up 0.5 %

HSY opened at $163.88 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. The company’s 50 day simple moving average is $161.29 and its two-hundred day simple moving average is $178.56. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $211.92. The firm has a market capitalization of $33.16 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 5.61 and a beta of 0.37.

Hershey (NYSE:HSY) last released 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 net margin of 19.83% and a return on equity of 44.77%. Analysts expect that The Hershey Company will post 6.12 EPS for the current fiscal 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. This represents a $5.48 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend is Friday, February 14th. Hershey’s dividend payout ratio (DPR) is 50.28%.

Insiders Place Their Bets

In other news, CAO Jennifer Mccalman sold 278 shares of Hershey stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total transaction of $41,144.00. Following the sale, the chief accounting officer now owns 2,682 shares of the company’s stock, valued at approximately $396,936. The trade was a 9.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Hershey Company 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.