Allspring Global Investments Holdings LLC Sells 10,835 Shares of The Hershey Company (NYSE:HSY)

Allspring Global Investments Holdings LLC decreased its stake in shares of The Hershey Company (NYSE:HSY) by 61.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,774 shares of the company’s stock after selling 10,835 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Hershey were worth $1,143,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in Hershey during the 3rd quarter valued at about $25,000. Grove Bank & Trust increased its position in Hershey by 248.0% during the 4th quarter. Grove Bank & Trust now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 124 shares during the period. Peterson Financial Group Inc. purchased a new position in Hershey during the 3rd quarter valued at about $46,000. ST Germain D J Co. Inc. increased its position in Hershey by 61.7% during the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock valued at $44,000 after purchasing an additional 100 shares during the period. Finally, City State Bank increased its position in Hershey by 210.0% during the 4th quarter. City State Bank now owns 310 shares of the company’s stock valued at $52,000 after purchasing an additional 210 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Up 4.2 %

HSY opened at $173.03 on Monday. The business has a 50-day moving average of $160.47 and a 200-day moving average of $177.91. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. The Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $211.92. The company has a market capitalization of $35.01 billion, a PE ratio of 15.87, a price-to-earnings-growth ratio of 5.90 and a beta of 0.37.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, topping 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%. Equities research analysts forecast that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 17th will be paid a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Friday, February 14th. Hershey’s dividend payout ratio is 50.28%.

Insider Activity at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of Hershey stock in a transaction 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 in the company, valued at approximately $396,936. The trade was a 9.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

HSY has been the topic of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. DA Davidson cut their price target on shares of Hershey from $164.00 to $149.00 and set a “neutral” rating for the company in a report on Monday, February 10th. Piper Sandler lowered shares of Hershey from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $153.00 to $120.00 in a report on Friday, January 31st. Citigroup raised shares of Hershey from a “sell” rating to a “neutral” rating and dropped their price objective for the company from $159.00 to $154.00 in a report on Friday, February 7th. Finally, Wells Fargo & Company reduced their price target on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. Five 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.com, Hershey currently has an average rating of “Hold” and an average price target of $164.15.

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.