Intech Investment Management LLC Has $4.49 Million Stake in The Hershey Company (NYSE:HSY)

Intech Investment Management LLC grew its stake in The Hershey Company (NYSE:HSY) by 135.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 26,530 shares of the company’s stock after buying an additional 15,273 shares during the period. Intech Investment Management LLC’s holdings in Hershey were worth $4,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vision Financial Markets LLC bought a new position in shares of Hershey during the 4th quarter worth about $29,000. Grove Bank & Trust lifted its holdings in shares of Hershey by 248.0% during the 4th quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after acquiring an additional 124 shares during the period. ST Germain D J Co. Inc. lifted its holdings in shares of 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. City State Bank lifted its holdings in shares of Hershey by 210.0% during the 4th quarter. City State Bank now owns 310 shares of the company’s stock worth $52,000 after acquiring an additional 210 shares during the period. Finally, Prospera Private Wealth LLC bought a new position in shares of Hershey during the 3rd quarter worth about $60,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Piper Sandler downgraded shares of Hershey from a “neutral” rating to an “underweight” rating and cut their price target for the company from $153.00 to $120.00 in a report on Friday, January 31st. Bank of America reissued a “neutral” rating and set a $180.00 price target on shares of Hershey in a report on Thursday, December 12th. Mizuho cut their price target on shares of Hershey from $170.00 to $140.00 in a report on Wednesday, February 5th. Jefferies Financial Group dropped their target price on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a research note on Tuesday, January 21st. Finally, DA Davidson dropped their target price on shares of Hershey from $164.00 to $149.00 and set a “neutral” rating for the company in a research note on Monday, February 10th. Five research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company’s stock. Based on data from MarketBeat, Hershey currently has an average rating of “Hold” and an average target price of $163.75.

Hershey Stock Down 0.7 %

Shares of NYSE:HSY opened at $169.26 on Wednesday. The Hershey Company has a 52 week low of $140.13 and a 52 week 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 company has a market capitalization of $34.26 billion, a PE ratio of 15.53, a PEG ratio of 5.90 and a beta of 0.32. The company has a 50 day moving average price of $162.29 and a two-hundred day moving average price of $175.43.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, February 6th. The company reported $2.69 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%. Analysts forecast that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend was Friday, February 14th. Hershey’s dividend payout ratio is 50.28%.

Insider Buying and Selling

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. 0.34% of the stock is currently owned by corporate insiders.

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.