Verity & Verity LLC cut its holdings in The Hershey Company (NYSE:HSY – Free Report) by 10.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,539 shares of the company’s stock after selling 7,013 shares during the quarter. Verity & Verity LLC’s holdings in Hershey were worth $10,422,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of HSY. Ashton Thomas Securities LLC acquired a new position in shares of Hershey in the 3rd quarter worth approximately $25,000. Peterson Financial Group Inc. acquired a new position in Hershey in the third quarter worth approximately $46,000. Future Financial Wealth Managment LLC bought a new position in shares of Hershey in the third quarter valued at $48,000. ST Germain D J Co. Inc. lifted its position in shares of 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 acquiring an additional 100 shares during the last quarter. Finally, Quarry LP boosted its stake in shares of Hershey by 123.9% during the 2nd quarter. Quarry LP now owns 300 shares of the company’s stock worth $55,000 after acquiring an additional 166 shares in the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have recently commented on HSY shares. Stifel Nicolaus reduced their target price on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a report on Friday, October 25th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $183.00 target price on shares of Hershey in a report on Tuesday, December 10th. Jefferies Financial Group lowered their price objective on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research report on Thursday, October 31st. Mizuho reduced their target price on Hershey from $195.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, December 23rd. Finally, Wells Fargo & Company decreased their target price on Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a research report on Friday. Six equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $176.42.
Hershey Stock Performance
Shares of HSY opened at $152.82 on Friday. The firm has a market cap of $30.92 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 4.31 and a beta of 0.38. The company’s fifty day moving average is $171.86 and its 200-day moving average is $184.39. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The Hershey Company has a 12 month low of $150.31 and a 12 month high of $211.92.
Hershey Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were issued a dividend of $1.37 per share. The ex-dividend date was Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.59%. Hershey’s dividend payout ratio (DPR) is currently 63.13%.
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.
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