Salvus Wealth Management LLC Invests $280,000 in The Hershey Company (NYSE:HSY)

Salvus Wealth Management LLC purchased a new position in The Hershey Company (NYSE:HSY - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,656 shares of the company's stock, valued at approximately $280,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of Hershey during the third quarter worth about $25,000. ST Germain D J Co. Inc. increased its holdings in Hershey by 61.7% during the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company's stock worth $44,000 after purchasing an additional 100 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of Hershey in the third quarter worth approximately $46,000. Future Financial Wealth Managment LLC bought a new position in shares of Hershey in the third quarter valued at approximately $48,000. Finally, City State Bank boosted its position in shares of Hershey by 210.0% during the fourth quarter. City State Bank now owns 310 shares of the company's stock valued at $52,000 after buying an additional 210 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on HSY shares. Sanford C. Bernstein lowered Hershey from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $230.00 to $205.00 in a research report on Monday, October 7th. Piper Sandler lowered 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. JPMorgan Chase & Co. dropped their price target on shares of Hershey from $171.00 to $151.00 and set a "neutral" rating on the stock in a research report on Thursday. Mizuho reduced their price objective on shares of Hershey from $195.00 to $170.00 and set a "neutral" rating for the company in a research report on Monday, December 23rd. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $183.00 target price on shares of Hershey in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company's stock. According to data from MarketBeat, Hershey currently has a consensus rating of "Hold" and a consensus target price of $176.42.

Hershey Stock Performance

Shares of HSY stock traded down $1.20 on Friday, hitting $152.82. 1,937,259 shares of the stock were exchanged, compared to its average volume of 2,068,729. The firm's 50 day moving average is $171.86 and its two-hundred day moving average is $184.39. The Hershey Company has a one year low of $150.31 and a one year high of $211.92. The firm has a market capitalization of $30.92 billion, a PE ratio of 17.61, a P/E/G 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.

Hershey Dividend Announcement

The business 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. The ex-dividend date was Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.59%. Hershey's dividend payout ratio is currently 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.