Griffin Asset Management Inc. Trims Stock Holdings in The Hershey Company (NYSE:HSY)

Griffin Asset Management Inc. decreased its position in The Hershey Company (NYSE:HSY) by 24.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,714 shares of the company’s stock after selling 3,404 shares during the quarter. Griffin Asset Management Inc.’s holdings in Hershey were worth $1,814,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HSY. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Hershey during the 3rd quarter valued at about $1,337,000. Principal Financial Group Inc. grew its position in shares of Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after acquiring an additional 389,404 shares during the period. Woodstock Corp raised its stake in Hershey by 34.8% during the 4th quarter. Woodstock Corp now owns 6,896 shares of the company’s stock worth $1,168,000 after acquiring an additional 1,780 shares during the period. HighTower Advisors LLC lifted its position in shares of Hershey by 61.9% in the third quarter. HighTower Advisors LLC now owns 120,159 shares of the company’s stock valued at $23,052,000 after acquiring an additional 45,936 shares in the last quarter. Finally, Pensionfund Sabic lifted its stake in Hershey by 55.6% in the 4th quarter. Pensionfund Sabic now owns 8,400 shares of the company’s stock worth $1,423,000 after purchasing an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Redburn Atlantic started coverage on shares of Hershey in a research report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective on the stock. Stifel Nicolaus reduced their target price on shares of Hershey from $180.00 to $170.00 and set a “hold” rating for the company in a report on Friday. Mizuho dropped their target price on Hershey from $195.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday, December 23rd. Citigroup dropped their price target on Hershey from $165.00 to $159.00 and set a “sell” rating on the stock in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $183.00 price objective on shares of Hershey in a research note on Tuesday, December 10th. Six investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $171.79.

Hershey Stock Performance

Shares of HSY opened at $153.33 on Tuesday. The stock has a market capitalization of $31.03 billion, a PE ratio of 17.66, a PEG ratio of 4.28 and a beta of 0.38. The stock has a 50-day simple moving average of $169.13 and a 200-day simple moving average of $183.24. 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 quick ratio of 0.54 and a current ratio of 0.85.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were given 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 3.57%. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

About Hershey

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.