Avanza Fonder AB purchased a new stake in The Hershey Company (NYSE:HSY – Free Report) in the fourth quarter, Holdings Channel.com reports. The firm purchased 14,861 shares of the company’s stock, valued at approximately $2,517,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ashton Thomas Securities LLC acquired a new position in shares of Hershey in the 3rd quarter valued at approximately $25,000. ST Germain D J Co. Inc. increased its stake in shares of Hershey by 61.7% in the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock worth $44,000 after buying an additional 100 shares during the last quarter. Peterson Financial Group Inc. acquired a new stake in Hershey in the third quarter valued at $46,000. Future Financial Wealth Managment LLC acquired a new position in Hershey during the 3rd quarter worth $48,000. Finally, City State Bank increased its position in shares of Hershey by 210.0% in the 4th quarter. City State Bank now owns 310 shares of the company’s stock worth $52,000 after purchasing an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently commented on HSY. Mizuho reduced their price target on shares of Hershey from $195.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, December 23rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $183.00 target price on shares of Hershey in a research report on Tuesday, December 10th. Stifel Nicolaus dropped their price target on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Bank of America restated a “neutral” rating and set a $180.00 price objective on shares of Hershey in a research note on Thursday, December 12th. Finally, Citigroup lowered their target price on shares of Hershey from $165.00 to $159.00 and set a “sell” rating for the company in a research note on Wednesday, January 8th. Six investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. Based on data from MarketBeat, Hershey presently has an average rating of “Hold” and a consensus target price of $176.42.
Hershey Stock Performance
Hershey stock opened at $152.82 on Friday. The Hershey Company has a fifty-two week low of $150.31 and a fifty-two week 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 company has a market cap of $30.92 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 4.31 and a beta of 0.38. The firm’s 50 day simple moving average is $171.86 and its 200-day simple moving average is $184.39.
Hershey Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were issued a $1.37 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.59%. Hershey’s dividend payout ratio is 63.13%.
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.
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