Sowell Financial Services LLC Makes New Investment in The Hershey Company (NYSE:HSY)

Sowell Financial Services LLC purchased a new position in The Hershey Company (NYSE:HSY - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,378 shares of the company's stock, valued at approximately $1,758,000.

A number of other large investors have also bought and sold shares of the stock. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Hershey during the third quarter valued at approximately $1,337,000. Principal Financial Group Inc. increased its stake in shares of Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company's stock valued at $186,571,000 after buying an additional 389,404 shares during the period. Woodstock Corp increased its stake in shares of Hershey by 34.8% during the fourth quarter. Woodstock Corp now owns 6,896 shares of the company's stock valued at $1,168,000 after buying an additional 1,780 shares during the period. Elevate Capital Advisors LLC purchased a new position in shares of Hershey during the fourth quarter valued at approximately $1,939,000. Finally, Ethos Financial Group LLC increased its stake in shares of Hershey by 59.8% during the fourth quarter. Ethos Financial Group LLC now owns 3,962 shares of the company's stock valued at $671,000 after buying an additional 1,483 shares during the period. 57.96% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on HSY. Wells Fargo & Company reduced their target price on Hershey from $150.00 to $140.00 and set an "underweight" rating on the stock in a research note on Friday, January 17th. UBS Group reduced their price target on Hershey from $189.00 to $163.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Piper Sandler cut Hershey from a "neutral" rating to an "underweight" rating and reduced their price target for the stock from $153.00 to $120.00 in a research note on Friday, January 31st. Bernstein Bank reduced their price target on Hershey from $177.00 to $146.00 and set a "market perform" rating on the stock in a research note on Wednesday, February 5th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Hershey from $184.00 to $148.00 and set a "hold" rating on the stock in a research note on Thursday, January 23rd. Five research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $164.15.

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Hershey Stock Performance

Shares of NYSE:HSY traded down $6.81 during midday trading on Tuesday, reaching $179.55. 2,256,049 shares of the company's stock traded hands, compared to its average volume of 1,811,869. The company has a market cap of $36.34 billion, a price-to-earnings ratio of 16.47, a P/E/G ratio of 5.90 and a beta of 0.32. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96. The Hershey Company has a one year low of $140.13 and a one year high of $211.92. The stock has a 50 day moving average of $161.83 and a 200 day moving average of $176.33.

Hershey (NYSE:HSY - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. As a group, equities research analysts anticipate that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 17th will be given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Friday, February 14th. Hershey's dividend payout ratio (DPR) is presently 50.28%.

Insider Activity at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $148.00, for a total transaction of $41,144.00. Following the completion of the sale, the chief accounting officer now owns 2,682 shares in the company, valued at approximately $396,936. This represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.34% of the stock is owned by company insiders.

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.