Coston McIsaac & Partners Trims Position in The Hershey Company (NYSE:HSY)

Coston McIsaac & Partners reduced its holdings in The Hershey Company (NYSE:HSY) by 9.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,855 shares of the company’s stock after selling 1,880 shares during the period. Coston McIsaac & Partners’ holdings in Hershey were worth $3,022,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HSY. International Assets Investment Management LLC boosted its holdings in Hershey by 30,461.7% in the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock valued at $1,100,130,000 after purchasing an additional 571,766 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Hershey by 66.7% in the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after buying an additional 389,404 shares during the last quarter. State Street Corp grew its holdings in Hershey by 5.8% during the third quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after acquiring an additional 386,670 shares during the period. Massachusetts Financial Services Co. MA raised its position in Hershey by 31.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company’s stock valued at $112,491,000 after acquiring an additional 139,831 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Hershey by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock valued at $841,476,000 after acquiring an additional 109,336 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Price Performance

Shares of NYSE HSY opened at $149.41 on Thursday. The Hershey Company has a 52 week low of $147.60 and a 52 week high of $211.92. The stock has a market capitalization of $30.23 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 4.28 and a beta of 0.38. 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 firm has a 50-day simple moving average of $168.39 and a 200-day simple moving average of $182.73.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Monday, November 18th. Hershey’s dividend payout ratio is currently 63.13%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on HSY shares. Jefferies Financial Group dropped their price objective on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 21st. TD Cowen cut their price objective on shares of Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Redburn Atlantic began coverage on shares of Hershey in a research report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective for the company. JPMorgan Chase & Co. dropped 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. Finally, Citigroup lowered their price target on Hershey from $165.00 to $159.00 and set a “sell” rating on the stock in a research report on Wednesday, January 8th. Six analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. Based on data from MarketBeat.com, Hershey currently has an average rating of “Hold” and an average target price of $171.79.

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.