J2 Capital Management Inc acquired a new stake in shares of The Hershey Company (NYSE:HSY - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,053 shares of the company's stock, valued at approximately $348,000.
Other institutional investors have also made changes to their positions in the company. Aaron Wealth Advisors LLC boosted its position in Hershey by 12.1% in the 4th quarter. Aaron Wealth Advisors LLC now owns 4,681 shares of the company's stock valued at $793,000 after buying an additional 505 shares during the last quarter. Triangle Securities Wealth Management purchased a new position in Hershey in the fourth quarter valued at about $410,000. HB Wealth Management LLC grew its stake in Hershey by 20.7% during the 4th quarter. HB Wealth Management LLC now owns 3,585 shares of the company's stock valued at $607,000 after purchasing an additional 616 shares in the last quarter. BTS Asset Management Inc. increased its holdings in Hershey by 71.3% during the 4th quarter. BTS Asset Management Inc. now owns 1,833 shares of the company's stock worth $310,000 after purchasing an additional 763 shares during the last quarter. Finally, Sanibel Captiva Trust Company Inc. acquired a new position in shares of Hershey in the 4th quarter valued at approximately $247,000. 57.96% of the stock is owned by institutional investors and hedge funds.
Hershey Stock Performance
Hershey stock traded down $1.20 during trading hours on Friday, reaching $152.82. 1,937,259 shares of the company were exchanged, compared to its average volume of 1,299,500. The Hershey Company has a 12 month low of $150.31 and a 12 month high of $211.92. The firm has a market cap of $30.92 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 4.31 and a beta of 0.38. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The stock has a 50-day moving average of $171.86 and a 200 day moving average of $184.39.
Hershey Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Monday, November 18th. Hershey's dividend payout ratio is 63.13%.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Bank of America reissued a "neutral" rating and set a $180.00 price target on shares of Hershey in a research report on Thursday, December 12th. Jefferies Financial Group lowered their price objective on Hershey from $163.00 to $161.00 and set an "underperform" rating for the company in a report on Thursday, October 31st. Stifel Nicolaus reduced their price target on shares of Hershey from $195.00 to $180.00 and set a "hold" rating on the stock in a research report on Friday, October 25th. JPMorgan Chase & Co. lowered their price objective on Hershey from $171.00 to $151.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, Sanford C. Bernstein downgraded Hershey from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $230.00 to $205.00 in a research report on Monday, October 7th. Six investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $176.42.
View Our Latest Analysis on Hershey
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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