Verity & Verity LLC Reduces Position in The Hershey Company (NYSE:HSY)

Verity & Verity LLC trimmed its holdings in shares of The Hershey Company (NYSE:HSY - Free Report) by 10.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 61,539 shares of the company's stock after selling 7,013 shares during the period. Verity & Verity LLC's holdings in Hershey were worth $10,422,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HSY. Merit Financial Group LLC boosted its holdings in Hershey by 80.1% in the fourth quarter. Merit Financial Group LLC now owns 18,369 shares of the company's stock worth $3,111,000 after acquiring an additional 8,171 shares in the last quarter. Relyea Zuckerberg Hanson LLC lifted its holdings in shares of Hershey by 39.7% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 1,745 shares of the company's stock valued at $295,000 after purchasing an additional 496 shares in the last quarter. Avanza Fonder AB purchased a new stake in shares of Hershey during the fourth quarter valued at $2,517,000. Woodstock Corp increased its holdings in Hershey by 34.8% in the 4th quarter. Woodstock Corp now owns 6,896 shares of the company's stock worth $1,168,000 after buying an additional 1,780 shares in the last quarter. Finally, Salvus Wealth Management LLC bought a new stake in Hershey in the 4th quarter worth about $280,000. 57.96% of the stock is owned by institutional investors.

Hershey Price Performance

HSY stock traded down $1.20 during trading on Friday, hitting $152.82. 1,937,259 shares of the company's stock traded hands, compared to its average volume of 1,299,500. The Hershey Company has a 52 week low of $150.31 and a 52 week high of $211.92. The stock has a market capitalization of $30.92 billion, a price-to-earnings ratio of 17.61, a P/E/G ratio of 4.31 and a beta of 0.38. The business has a fifty day simple moving average of $171.86 and a 200 day simple moving average of $184.39. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were given a $1.37 dividend. The ex-dividend date was Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.59%. Hershey's dividend payout ratio is currently 63.13%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HSY. Citigroup decreased their price objective on shares of Hershey from $165.00 to $159.00 and set a "sell" rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price target on shares of Hershey from $171.00 to $151.00 and set a "neutral" rating for the company in a research report on Thursday. Jefferies Financial Group dropped their price objective on shares of Hershey from $163.00 to $161.00 and set an "underperform" rating on the stock in a report on Thursday, October 31st. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $183.00 target price on shares of Hershey in a report on Tuesday, December 10th. Finally, Sanford C. Bernstein cut shares of Hershey from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $230.00 to $205.00 in a research note on Monday, October 7th. Six investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company's stock. According to MarketBeat.com, Hershey presently has an average rating of "Hold" and an average target price of $176.42.

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.