Merit Financial Group LLC Acquires 8,171 Shares of The Hershey Company (NYSE:HSY)

Merit Financial Group LLC boosted its position in The Hershey Company (NYSE:HSY - Free Report) by 80.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,369 shares of the company's stock after purchasing an additional 8,171 shares during the quarter. Merit Financial Group LLC's holdings in Hershey were worth $3,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Hershey in the third quarter worth $25,000. Peterson Financial Group Inc. bought a new position in Hershey in the 3rd quarter worth about $46,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Hershey in the 3rd quarter valued at about $48,000. ST Germain D J Co. Inc. boosted its position in shares of Hershey by 61.7% during the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company's stock valued at $44,000 after acquiring an additional 100 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of Hershey by 123.9% during the second quarter. Quarry LP now owns 300 shares of the company's stock worth $55,000 after purchasing an additional 166 shares in the last quarter. 57.96% of the stock is owned by institutional investors.

Hershey Trading Down 0.8 %

Shares of HSY stock traded down $1.20 during mid-day trading on Monday, reaching $152.82. The stock had a trading volume of 1,937,259 shares, compared to its average volume of 1,299,500. The firm has a market capitalization of $30.92 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 4.31 and a beta of 0.38. The stock's 50-day moving average price is $171.86 and its two-hundred day moving average price is $184.39. 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 Hershey Company has a 52-week low of $150.31 and a 52-week high of $211.92.

Hershey Announces Dividend

The firm also recently declared 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 was Monday, November 18th. Hershey's payout ratio is 63.13%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HSY. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $183.00 target price on shares of Hershey in a research note on Tuesday, December 10th. TD Cowen dropped 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 Hershey in a research note on Tuesday, October 22nd. They issued a "sell" rating and a $165.00 target price on the stock. 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. Finally, Barclays cut their price objective on Hershey from $180.00 to $170.00 and set an "equal weight" rating for the company in a report on Friday. 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, Hershey presently has a consensus rating of "Hold" and a consensus price target of $176.42.

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.