Wealth Effects LLC Sells 625 Shares of The Hershey Company (NYSE:HSY)

Wealth Effects LLC lowered its stake in shares of The Hershey Company (NYSE:HSY) by 27.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,642 shares of the company’s stock after selling 625 shares during the quarter. Wealth Effects LLC’s holdings in Hershey were worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HSY. Ashton Thomas Securities LLC acquired a new stake in Hershey in the third quarter valued at approximately $25,000. Grove Bank & Trust boosted its position in shares of Hershey by 248.0% in the 4th quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 124 shares in the last quarter. ST Germain D J Co. Inc. grew its stake in Hershey by 61.7% during the 4th 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. purchased a new stake in Hershey in the third quarter valued at about $46,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Hershey in the third quarter worth about $48,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

Shares of Hershey stock opened at $153.33 on Tuesday. The firm has a market cap of $31.03 billion, a PE ratio of 17.66, a P/E/G ratio of 4.28 and a beta of 0.38. The business has a 50-day moving average price of $169.13 and a 200 day moving average price of $183.24. 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 twelve month low of $147.60 and a twelve month high of $211.92.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were given a $1.37 dividend. The ex-dividend date was Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.57%. Hershey’s dividend payout ratio (DPR) is 63.13%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Jefferies Financial Group decreased their price objective on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a research report on Tuesday, January 21st. Bank of America reiterated a “neutral” rating and set a $180.00 price objective on shares of Hershey in a research note on Thursday, December 12th. JPMorgan Chase & Co. cut their target price on Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $183.00 price target on shares of Hershey in a research report on Tuesday, December 10th. Finally, Piper Sandler cut their price objective on Hershey from $168.00 to $153.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Six research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. Based on data from MarketBeat.com, Hershey currently has a consensus rating of “Hold” and an average target price of $171.79.

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.