Bragg Financial Advisors Inc grew its position in The Hershey Company (NYSE:HSY - Free Report) by 16.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,926 shares of the company's stock after acquiring an additional 2,198 shares during the period. Bragg Financial Advisors Inc's holdings in Hershey were worth $2,697,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Crowley Wealth Management Inc. purchased a new stake in Hershey during the fourth quarter worth about $28,000. Grove Bank & Trust boosted its stake in shares of Hershey by 248.0% during the 4th quarter. Grove Bank & Trust now owns 174 shares of the company's stock worth $29,000 after acquiring an additional 124 shares in the last quarter. Vision Financial Markets LLC acquired a new stake in shares of Hershey in the 4th quarter worth approximately $29,000. Lee Danner & Bass Inc. purchased a new stake in Hershey during the fourth quarter worth $34,000. Finally, Covestor Ltd increased its position in shares of Hershey by 42.5% in the fourth quarter. Covestor Ltd now owns 238 shares of the company's stock valued at $40,000 after buying an additional 71 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the stock. Wells Fargo & Company raised their target price on shares of Hershey from $125.00 to $132.00 and gave the company an "underweight" rating in a report on Friday, March 14th. Royal Bank of Canada reiterated a "sector perform" rating and set a $178.00 target price on shares of Hershey in a report on Monday, February 3rd. Stifel Nicolaus cut their price target on Hershey from $170.00 to $160.00 and set a "hold" rating for the company in a report on Friday, February 7th. JPMorgan Chase & Co. decreased their price objective on Hershey from $171.00 to $151.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Finally, DA Davidson reduced their target price on shares of Hershey from $164.00 to $149.00 and set a "neutral" rating on the stock in a report on Monday, February 10th. Five investment analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $163.35.
View Our Latest Report on HSY
Insider Activity at Hershey
In related news, CAO Jennifer Mccalman sold 278 shares of Hershey stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the completion of the sale, the chief accounting officer now owns 2,682 shares in the company, valued at approximately $396,936. The trade was a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.28% of the stock is currently owned by company insiders.
Hershey Stock Up 1.3 %
Shares of NYSE HSY traded up $2.18 on Friday, hitting $166.41. The company had a trading volume of 1,120,479 shares, compared to its average volume of 1,793,640. The firm has a market capitalization of $33.68 billion, a P/E ratio of 15.27, a PEG ratio of 5.90 and a beta of 0.28. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. The Hershey Company has a 12-month low of $140.13 and a 12-month high of $211.92. The business has a 50 day moving average of $168.78 and a two-hundred day moving average of $170.58.
Hershey (NYSE:HSY - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. As a group, equities research analysts forecast that The Hershey Company will post 6.12 earnings per share for the current fiscal year.
Hershey Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were paid a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Friday, February 14th. Hershey's dividend payout ratio (DPR) is 50.28%.
About Hershey
(
Free Report)
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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