The Hershey Company (NYSE:HSY) Holdings Decreased by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. trimmed its position in The Hershey Company (NYSE:HSY) by 73.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,065 shares of the company’s stock after selling 194,068 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Hershey were worth $11,696,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HSY. Raymond James Financial Inc. acquired a new position in Hershey during the 4th quarter valued at approximately $80,978,000. Principal Financial Group Inc. boosted its position in Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after acquiring an additional 389,404 shares during the period. State Street Corp boosted its position in Hershey by 5.8% during the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after acquiring an additional 386,670 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Hershey by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company’s stock worth $785,003,000 after acquiring an additional 247,675 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Hershey by 31.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company’s stock worth $112,491,000 after acquiring an additional 139,831 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Price Performance

Shares of NYSE:HSY opened at $185.11 on Monday. The business has a 50 day moving average price of $161.48 and a 200 day moving average price of $176.40. The Hershey Company has a twelve month low of $140.13 and a twelve month high of $211.92. The company has a market cap of $37.47 billion, a price-to-earnings ratio of 16.98, a PEG ratio of 5.90 and a beta of 0.32. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. Research analysts predict that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Monday, February 17th will be issued a $1.37 dividend. The ex-dividend date is Friday, February 14th. This represents a $5.48 annualized dividend and a yield of 2.96%. Hershey’s dividend payout ratio (DPR) is 50.28%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HSY. Wells Fargo & Company reduced their price target on Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. JPMorgan Chase & Co. reduced their price target on Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Piper Sandler downgraded Hershey from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $153.00 to $120.00 in a research note on Friday, January 31st. Bank of America reaffirmed a “neutral” rating and set a $180.00 target price on shares of Hershey in a research report on Thursday, December 12th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Hershey from $184.00 to $148.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Five investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $164.15.

Insider Buying and Selling at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was 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 of the company’s stock, valued at $396,936. This represents a 9.39 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.34% of the company’s stock.

About Hershey

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.