Congress Wealth Management LLC DE Has $620,000 Stake in The Hershey Company (NYSE:HSY)

Congress Wealth Management LLC DE trimmed its stake in The Hershey Company (NYSE:HSY) by 65.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,662 shares of the company’s stock after selling 6,897 shares during the period. Congress Wealth Management LLC DE’s holdings in Hershey were worth $620,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Crowley Wealth Management Inc. acquired a new stake in shares of Hershey in the fourth quarter worth $28,000. Napatree Capital LLC raised its holdings in Hershey by 2.3% in the 4th quarter. Napatree Capital LLC now owns 3,926 shares of the company’s stock worth $665,000 after acquiring an additional 87 shares during the period. Stevens Capital Management LP acquired a new position in Hershey during the 4th quarter worth $449,000. LPL Financial LLC boosted its holdings in Hershey by 19.0% during the fourth quarter. LPL Financial LLC now owns 400,114 shares of the company’s stock valued at $67,759,000 after acquiring an additional 63,882 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Hershey in the fourth quarter valued at about $21,439,000. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Down 0.4 %

Shares of NYSE:HSY opened at $169.87 on Friday. The company’s fifty day moving average is $164.03 and its 200-day moving average is $174.04. 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 Hershey Company has a 52 week low of $140.13 and a 52 week high of $211.92. The company has a market capitalization of $34.38 billion, a PE ratio of 15.58, a P/E/G ratio of 5.90 and a beta of 0.32.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, topping 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%. Equities research analysts predict that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were given a $1.37 dividend. 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 payout ratio is 50.28%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. UBS Group cut their price objective on Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. DA Davidson reduced their price objective on Hershey from $164.00 to $149.00 and set a “neutral” rating for the company in a research report on Monday, February 10th. TD Cowen dropped their target price on shares of Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company increased their price target on shares of Hershey from $125.00 to $132.00 and gave the company an “underweight” rating in a report on Friday, March 14th. Finally, Bank of America restated a “neutral” rating and set a $180.00 price objective on shares of Hershey in a report on Thursday, December 12th. Five equities research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. According to data from MarketBeat, Hershey has an average rating of “Hold” and an average price target of $162.50.

Insiders Place Their Bets

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the business’s 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 directly owns 2,682 shares of the company’s stock, valued at approximately $396,936. The trade was a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.34% of the company’s stock.

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.