Central Bank & Trust Co. Trims Position in The Hershey Company (NYSE:HSY)

Central Bank & Trust Co. lowered its stake in shares of The Hershey Company (NYSE:HSY) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,823 shares of the company’s stock after selling 2,346 shares during the quarter. Central Bank & Trust Co.’s holdings in Hershey were worth $3,357,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Hershey by 5.8% in the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock valued at $1,348,127,000 after purchasing an additional 386,670 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Hershey by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock worth $841,476,000 after purchasing an additional 109,336 shares during the period. Geode Capital Management LLC grew its position in Hershey by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,753,751 shares of the company’s stock valued at $717,606,000 after buying an additional 35,688 shares during the last quarter. Principal Financial Group Inc. increased its stake in Hershey by 66.7% in the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after buying an additional 389,404 shares during the period. Finally, Stifel Financial Corp raised its position in Hershey by 3.2% during the 3rd quarter. Stifel Financial Corp now owns 964,748 shares of the company’s stock worth $185,027,000 after buying an additional 29,507 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on HSY shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $183.00 price target on shares of Hershey in a research note on Tuesday, December 10th. Wells Fargo & Company dropped their target price on Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a research report on Friday. Stifel Nicolaus reduced their price target on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a report on Friday, October 25th. Sanford C. Bernstein lowered Hershey from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $230.00 to $205.00 in a report on Monday, October 7th. Finally, 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. Six investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $176.42.

Hershey Price Performance

Hershey stock opened at $152.82 on Tuesday. The firm’s 50-day moving average is $171.86 and its two-hundred day moving average is $184.39. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The stock has a market capitalization of $30.92 billion, a P/E ratio of 17.61, a P/E/G ratio of 4.31 and a beta of 0.38. The Hershey Company has a 12-month low of $150.31 and a 12-month high of $211.92.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date was Monday, November 18th. Hershey’s dividend payout ratio is presently 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.