Robertson Stephens Wealth Management LLC Sells 16,564 Shares of The Hershey Company (NYSE:HSY)

Robertson Stephens Wealth Management LLC decreased its position in The Hershey Company (NYSE:HSY) by 57.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 12,198 shares of the company’s stock after selling 16,564 shares during the period. Robertson Stephens Wealth Management LLC’s holdings in Hershey were worth $2,274,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Costello Asset Management INC acquired a new stake in shares of Hershey in the third quarter valued at approximately $25,000. BKM Wealth Management LLC bought a new position in Hershey in the fourth quarter valued at $26,000. First Financial Corp IN acquired a new stake in Hershey in the 4th quarter valued at $29,000. Highlander Capital Management LLC lifted its position in Hershey by 125.3% during the 4th quarter. Highlander Capital Management LLC now owns 169 shares of the company’s stock worth $32,000 after buying an additional 94 shares in the last quarter. Finally, Rakuten Securities Inc. acquired a new position in shares of Hershey during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Stock Performance

Shares of NYSE HSY traded up $0.98 during trading hours on Thursday, reaching $194.68. 405,998 shares of the stock were exchanged, compared to its average volume of 1,951,250. The firm has a market capitalization of $39.70 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 2.98 and a beta of 0.33. The stock’s fifty day simple moving average is $191.80 and its 200 day simple moving average is $190.68. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.52 and a current ratio of 0.97. The Hershey Company has a 52 week low of $178.82 and a 52 week high of $276.71.

Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, February 8th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.07. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.72 billion. Hershey had a return on equity of 51.79% and a net margin of 16.67%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business earned $2.02 EPS. Sell-side analysts predict that The Hershey Company will post 9.6 EPS for the current year.

Hershey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th were issued a $1.37 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $5.48 dividend on an annualized basis and a yield of 2.81%. This is an increase from Hershey’s previous quarterly dividend of $1.19. Hershey’s payout ratio is currently 60.55%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Citigroup lowered their target price on Hershey from $213.00 to $199.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $213.00 price target on shares of Hershey in a research report on Friday, March 15th. JPMorgan Chase & Co. increased their price objective on Hershey from $185.00 to $193.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Wells Fargo & Company lowered their target price on shares of Hershey from $205.00 to $200.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Finally, Morgan Stanley cut shares of Hershey from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $191.00 to $183.00 in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $212.78.

Insiders Place Their Bets

In other news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $185.83, for a total value of $278,745.00. Following the completion of the sale, the chief financial officer now directly owns 38,728 shares in the company, valued at $7,196,824.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CAO Jennifer Mccalman sold 453 shares of Hershey stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $198.54, for a total value of $89,938.62. Following the transaction, the chief accounting officer now directly owns 1,862 shares of the company’s stock, valued at $369,681.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven E. Voskuil sold 1,500 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $185.83, for a total value of $278,745.00. Following the sale, the chief financial officer now owns 38,728 shares of the company’s stock, valued at $7,196,824.24. The disclosure for this sale can be found here. Insiders have sold a total of 3,453 shares of company stock worth $665,534 in the last quarter. Corporate 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.