Smith Moore & CO. decreased its holdings in shares of Hershey Co (NYSE:HSY) by 7.2% during the first quarter, Holdings Channel reports. The fund owned 9,009 shares of the company’s stock after selling 697 shares during the period. Smith Moore & CO.’s holdings in Hershey were worth $1,034,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Trustcore Financial Services LLC acquired a new stake in shares of Hershey during the first quarter worth about $29,000. Bremer Trust National Association acquired a new stake in shares of Hershey during the fourth quarter worth about $29,000. Claybrook Capital LLC acquired a new stake in shares of Hershey during the fourth quarter worth about $29,000. Cornerstone Advisors Inc. lifted its holdings in shares of Hershey by 37.3% during the first quarter. Cornerstone Advisors Inc. now owns 302 shares of the company’s stock worth $35,000 after purchasing an additional 82 shares during the period. Finally, Acima Private Wealth LLC acquired a new stake in shares of Hershey during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 53.61% of the company’s stock.
Shares of NYSE:HSY opened at $128.90 on Friday. Hershey Co has a 12-month low of $89.29 and a 12-month high of $129.67. The company has a market capitalization of $26.91 billion, a price-to-earnings ratio of 24.05, a P/E/G ratio of 2.83 and a beta of 0.18. The company has a debt-to-equity ratio of 2.27, a current ratio of 0.92 and a quick ratio of 0.59.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be paid a dividend of $0.722 per share. This represents a $2.89 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Thursday, May 23rd. Hershey’s payout ratio is 53.92%.
A number of research analysts have issued reports on the company. Zacks Investment Research raised Hershey from a “hold” rating to a “buy” rating and set a $143.00 price target for the company in a report on Thursday. ValuEngine downgraded Hershey from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. UBS Group set a $100.00 price target on Hershey and gave the company a “sell” rating in a report on Friday, April 26th. BMO Capital Markets boosted their price target on Hershey from $93.00 to $108.00 and gave the company a “market perform” rating in a report on Friday, April 26th. Finally, Credit Suisse Group set a $123.00 price target on Hershey and gave the company a “hold” rating in a report on Friday, April 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $113.27.
In other news, CFO Patricia A. Little sold 19,779 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $109.30, for a total transaction of $2,161,844.70. Following the completion of the transaction, the chief financial officer now directly owns 36,049 shares of the company’s stock, valued at approximately $3,940,155.70. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Michele Buck sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $109.59, for a total value of $164,385.00. Following the transaction, the insider now directly owns 166,056 shares of the company’s stock, valued at $18,198,077.04. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,082,011 shares of company stock valued at $385,916,058. Corporate insiders own 0.41% of the company’s stock.
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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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