The Hershey Company (NYSE:HSY) Shares Sold by Entropy Technologies LP

Entropy Technologies LP cut its stake in shares of The Hershey Company (NYSE:HSY) by 42.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,705 shares of the company’s stock after selling 2,745 shares during the quarter. Entropy Technologies LP’s holdings in Hershey were worth $627,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Salomon & Ludwin LLC grew its holdings in Hershey by 23.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 333 shares of the company’s stock worth $64,000 after acquiring an additional 63 shares in the last quarter. Forum Financial Management LP grew its stake in shares of Hershey by 1.6% during the third quarter. Forum Financial Management LP now owns 4,130 shares of the company’s stock worth $792,000 after purchasing an additional 64 shares in the last quarter. Avestar Capital LLC grew its stake in shares of Hershey by 6.0% during the third quarter. Avestar Capital LLC now owns 1,175 shares of the company’s stock worth $225,000 after purchasing an additional 67 shares in the last quarter. Massachusetts Wealth Management raised its stake in Hershey by 1.3% in the third quarter. Massachusetts Wealth Management now owns 6,007 shares of the company’s stock valued at $1,152,000 after buying an additional 75 shares in the last quarter. Finally, Parthenon LLC raised its stake in Hershey by 0.3% in the third quarter. Parthenon LLC now owns 24,240 shares of the company’s stock valued at $4,649,000 after buying an additional 75 shares in the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Stock Performance

NYSE:HSY opened at $158.34 on Wednesday. The firm has a market cap of $32.04 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 4.89 and a beta of 0.37. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.54. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $211.92. The firm’s fifty day moving average price is $163.92 and its 200 day moving average price is $180.11.

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, 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%. On average, sell-side analysts expect that The Hershey Company will post 6.77 EPS for the current year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Monday, February 17th will be paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, February 14th. Hershey’s dividend payout ratio (DPR) is 50.28%.

Insider Activity

In other news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction dated 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on HSY shares. Citigroup upgraded Hershey from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $159.00 to $154.00 in a report on Friday, February 7th. JPMorgan Chase & Co. dropped their price target on shares of Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. TD Cowen cut their price objective on shares of Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Piper Sandler cut shares of 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 report on Friday, January 31st. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $178.00 price target on shares of Hershey in a research note on Monday, February 3rd. Six research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. Based on data from MarketBeat, Hershey presently has a consensus rating of “Hold” and an average target price of $165.05.

Hershey 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.