Peregrine Asset Advisers Inc. Cuts Stock Holdings in The Hershey Company (NYSE:HSY)

Peregrine Asset Advisers Inc. cut its position in shares of The Hershey Company (NYSE:HSY) by 55.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,459 shares of the company’s stock after selling 1,807 shares during the period. Peregrine Asset Advisers Inc.’s holdings in Hershey were worth $247,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in shares of Hershey by 31.4% in the 3rd quarter. Blue Trust Inc. now owns 1,068 shares of the company’s stock valued at $196,000 after purchasing an additional 255 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Hershey by 107.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 17,609 shares of the company’s stock valued at $3,377,000 after purchasing an additional 9,129 shares during the period. Foundations Investment Advisors LLC increased its position in shares of Hershey by 22.1% in the third quarter. Foundations Investment Advisors LLC now owns 1,367 shares of the company’s stock valued at $262,000 after buying an additional 247 shares in the last quarter. IFM Investors Pty Ltd raised its stake in shares of Hershey by 5.8% during the 3rd quarter. IFM Investors Pty Ltd now owns 31,925 shares of the company’s stock worth $6,123,000 after buying an additional 1,758 shares during the period. Finally, Busey Bank lifted its position in shares of Hershey by 13.6% during the 3rd quarter. Busey Bank now owns 5,400 shares of the company’s stock valued at $1,036,000 after buying an additional 647 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. TD Cowen cut their price target on shares of Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Citigroup raised shares of Hershey from a “sell” rating to a “neutral” rating and cut their target price for the stock from $159.00 to $154.00 in a research note on Friday, February 7th. Jefferies Financial Group decreased their price target on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 21st. Mizuho lowered their price objective on Hershey from $170.00 to $140.00 in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. reduced their target price on Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Five equities research 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 stock presently has a consensus rating of “Hold” and a consensus price target of $164.15.

Hershey Trading Up 4.2 %

HSY opened at $173.03 on Friday. The stock has a market capitalization of $35.01 billion, a PE ratio of 15.87, a P/E/G ratio of 5.82 and a beta of 0.37. The Hershey Company has a one year low of $140.13 and a one year high of $211.92. 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 business’s 50 day moving average price is $160.67 and its 200 day moving average price is $178.37.

Hershey (NYSE:HSY) last posted its earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, beating 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%. As a group, equities research analysts expect that The Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The business 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 dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Friday, February 14th. Hershey’s dividend payout ratio (DPR) is presently 50.28%.

Insider Buying and Selling at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $396,936. This represents a 9.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.34% 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.