Public Sector Pension Investment Board lessened its stake in shares of Hershey Co (NYSE:HSY) by 11.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,737 shares of the company’s stock after selling 3,200 shares during the quarter. Public Sector Pension Investment Board’s holdings in Hershey were worth $3,783,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Rodgers Brothers Inc. increased its position in Hershey by 0.5% in the 4th quarter. Rodgers Brothers Inc. now owns 11,935 shares of the company’s stock valued at $1,754,000 after acquiring an additional 63 shares during the period. Coho Partners Ltd. boosted its stake in Hershey by 2.8% in the 4th quarter. Coho Partners Ltd. now owns 2,688 shares of the company’s stock worth $395,000 after purchasing an additional 73 shares in the last quarter. STA Wealth Management LLC boosted its stake in Hershey by 3.0% in the 4th quarter. STA Wealth Management LLC now owns 3,100 shares of the company’s stock worth $456,000 after purchasing an additional 91 shares in the last quarter. State of Michigan Retirement System boosted its stake in Hershey by 0.3% in the 4th quarter. State of Michigan Retirement System now owns 35,882 shares of the company’s stock worth $5,274,000 after purchasing an additional 100 shares in the last quarter. Finally, Utah Retirement Systems boosted its stake in Hershey by 0.4% in the 4th quarter. Utah Retirement Systems now owns 27,537 shares of the company’s stock worth $4,048,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 53.13% of the company’s stock.
Shares of NYSE:HSY traded up $6.31 during midday trading on Thursday, reaching $132.45. The company’s stock had a trading volume of 1,438,918 shares, compared to its average volume of 1,692,243. The firm has a market cap of $25.57 billion, a price-to-earnings ratio of 24.30, a price-to-earnings-growth ratio of 2.61 and a beta of 0.11. The company has a quick ratio of 0.65, a current ratio of 1.05 and a debt-to-equity ratio of 2.02. Hershey Co has a 1 year low of $109.88 and a 1 year high of $162.20. The business has a 50 day moving average price of $148.24 and a 200 day moving average price of $149.29.
The company also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Friday, February 21st were given a dividend of $0.773 per share. The ex-dividend date of this dividend was Thursday, February 20th. This represents a $3.09 dividend on an annualized basis and a dividend yield of 2.33%. Hershey’s dividend payout ratio is 53.46%.
A number of equities analysts recently issued reports on the stock. Edward Jones upgraded shares of Hershey from a “hold” rating to a “buy” rating in a research note on Tuesday. Piper Sandler raised shares of Hershey from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $134.00 to $138.00 in a report on Tuesday. Barclays reissued a “hold” rating on shares of Hershey in a report on Sunday, February 2nd. UBS Group increased their target price on shares of Hershey from $147.00 to $157.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Hershey from $152.00 to $138.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $146.00.
In other Hershey news, Director Pamela M. Arway sold 371 shares of the business’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $145.48, for a total value of $53,973.08. Following the completion of the sale, the director now owns 15,986 shares of the company’s stock, valued at approximately $2,325,643.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michele Buck sold 3,832 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $150.00, for a total transaction of $574,800.00. Following the completion of the sale, the chief executive officer now directly owns 149,429 shares of the company’s stock, valued at approximately $22,414,350. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,104 shares of company stock worth $3,548,402. Insiders own 0.41% of the company’s stock.
The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.
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