Patriot Investment Management Group Inc. Cuts Position in The Hershey Company (NYSE:HSY)

Patriot Investment Management Group Inc. trimmed its holdings in shares of The Hershey Company (NYSE:HSY) by 9.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,293 shares of the company’s stock after selling 135 shares during the quarter. Patriot Investment Management Group Inc.’s holdings in Hershey were worth $219,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Hershey during the 3rd quarter worth approximately $25,000. Grove Bank & Trust lifted its stake in Hershey by 248.0% in the fourth 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 last quarter. ST Germain D J Co. Inc. grew its holdings in Hershey by 61.7% during the fourth 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. Peterson Financial Group Inc. purchased a new stake in Hershey in the third quarter worth $46,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Hershey in the third quarter valued at $48,000. 57.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HSY. Barclays cut their price target on Hershey from $180.00 to $170.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Bank of America reiterated a “neutral” rating and set a $180.00 target price on shares of Hershey in a research report on Thursday, December 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $183.00 price target on shares of Hershey in a research report on Tuesday, December 10th. Wells Fargo & Company cut their price objective on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Finally, Citigroup reduced their target price on Hershey from $165.00 to $159.00 and set a “sell” rating for the company in a report on Wednesday, January 8th. Six analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $171.79.

Hershey Stock Performance

NYSE:HSY opened at $150.54 on Friday. The Hershey Company has a 1-year low of $147.60 and a 1-year high of $211.92. 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 business has a 50 day moving average of $169.54 and a 200 day moving average of $183.49. The company has a market capitalization of $30.46 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 4.28 and a beta of 0.38.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were paid a $1.37 dividend. The ex-dividend date was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.64%. Hershey’s dividend payout ratio (DPR) is 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.