Old North State Wealth Management LLC Takes Position in The Hershey Company (NYSE:HSY)

Old North State Wealth Management LLC purchased a new stake in The Hershey Company (NYSE:HSY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,031 shares of the company's stock, valued at approximately $513,000.

Several other large investors also recently made changes to their positions in the business. Park Avenue Securities LLC boosted its holdings in Hershey by 1.1% during the third quarter. Park Avenue Securities LLC now owns 5,646 shares of the company's stock worth $1,083,000 after buying an additional 62 shares in the last quarter. Czech National Bank boosted its stake in shares of Hershey by 6.9% during the 3rd quarter. Czech National Bank now owns 30,082 shares of the company's stock worth $5,769,000 after acquiring an additional 1,952 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Hershey by 33.0% in the 3rd quarter. GAMMA Investing LLC now owns 4,054 shares of the company's stock worth $777,000 after acquiring an additional 1,005 shares during the last quarter. Bridge Creek Capital Management LLC raised its position in shares of Hershey by 63.4% during the third quarter. Bridge Creek Capital Management LLC now owns 3,015 shares of the company's stock worth $578,000 after purchasing an additional 1,170 shares during the period. Finally, Insight Wealth Strategies LLC lifted its holdings in shares of Hershey by 94.0% during the third quarter. Insight Wealth Strategies LLC now owns 20,704 shares of the company's stock valued at $3,971,000 after purchasing an additional 10,034 shares during the last quarter. Institutional investors own 57.96% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HSY. JPMorgan Chase & Co. dropped their price target on Hershey from $171.00 to $151.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Royal Bank of Canada reissued a "sector perform" rating and issued a $178.00 target price on shares of Hershey in a research report on Monday. UBS Group reduced their price target on shares of Hershey from $189.00 to $163.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Citigroup lowered their price objective 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. Finally, Bernstein Bank reduced their target price on Hershey from $177.00 to $146.00 and set a "market perform" rating for the company in a report on Wednesday. Seven investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $167.10.

Insiders Place Their Bets

In related news, CAO Jennifer Mccalman sold 278 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $148.00, for a total value of $41,144.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,682 shares of the company's stock, valued at $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.34% of the company's stock.

Hershey Stock Performance

NYSE HSY traded up $1.22 during trading on Wednesday, hitting $145.96. The company's stock had a trading volume of 3,891,234 shares, compared to its average volume of 1,998,401. The Hershey Company has a 52 week low of $140.13 and a 52 week high of $211.92. The firm has a market cap of $29.53 billion, a P/E ratio of 16.82, a price-to-earnings-growth ratio of 4.30 and a beta of 0.37. The firm has a 50 day moving average price of $165.80 and a 200 day moving average price of $181.22. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend was Monday, November 18th. Hershey's dividend payout ratio (DPR) is presently 63.13%.

Hershey 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.