Mitchell Mcleod Pugh & Williams Inc. Buys 2,223 Shares of The Hershey Company (NYSE:HSY)

Mitchell Mcleod Pugh & Williams Inc. grew its holdings in shares of The Hershey Company (NYSE:HSY - Free Report) by 86.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,782 shares of the company's stock after buying an additional 2,223 shares during the period. Mitchell Mcleod Pugh & Williams Inc.'s holdings in Hershey were worth $810,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the stock. International Assets Investment Management LLC grew its holdings in Hershey by 30,461.7% during the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company's stock worth $1,100,130,000 after buying an additional 571,766 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company's stock worth $186,571,000 after purchasing an additional 389,404 shares during the last quarter. State Street Corp raised its stake in shares of Hershey by 5.8% in the third quarter. State Street Corp now owns 7,029,551 shares of the company's stock valued at $1,348,127,000 after buying an additional 386,670 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings 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 purchasing an additional 139,831 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Hershey by 2.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company's stock worth $841,476,000 after buying an additional 109,336 shares during the period. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HSY has been the topic of several analyst reports. Bank of America reiterated a "neutral" rating and set a $180.00 price target on shares of Hershey in a research report on Thursday, December 12th. TD Cowen reduced their price objective on Hershey from $190.00 to $172.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. Citigroup decreased their target price on shares of Hershey from $165.00 to $159.00 and set a "sell" rating on the stock in a research report on Wednesday, January 8th. Wells Fargo & Company lowered their price objective on Hershey from $150.00 to $140.00 and set an "underweight" rating for the company in a research report on Friday. Finally, Piper Sandler dropped their target price on shares of Hershey from $168.00 to $153.00 and set a "neutral" rating for the company in a report on Thursday. Six analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company's stock. According to MarketBeat.com, Hershey presently has a consensus rating of "Hold" and an average price target of $176.42.

Hershey Price Performance

NYSE HSY traded down $1.20 during trading hours on Monday, reaching $152.82. The company's stock had a trading volume of 1,937,259 shares, compared to its average volume of 1,299,500. 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 1 year low of $150.31 and a 1 year high of $211.92. The firm's 50-day moving average price is $171.86 and its 200-day moving average price is $184.39. The company has a market capitalization of $30.92 billion, a price-to-earnings ratio of 17.61, a PEG ratio of 4.31 and a beta of 0.38.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were given a dividend of $1.37 per share. The ex-dividend date was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.59%. Hershey's payout ratio is 63.13%.

About Hershey

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.