Graypoint LLC Takes $345,000 Position in The Hershey Company (NYSE:HSY)

Graypoint LLC bought a new position in The Hershey Company (NYSE:HSY) during the 4th quarter, Holdings Channel reports. The fund bought 2,037 shares of the company’s stock, valued at approximately $345,000.

A number of other hedge funds also recently bought and sold shares of the business. International Assets Investment Management LLC grew its position in shares of Hershey by 30,461.7% in the 3rd 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 during the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Hershey in the second quarter valued at $82,123,000. Principal Financial Group Inc. increased its position in Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after purchasing an additional 389,404 shares during the period. State Street Corp raised its holdings in Hershey by 5.8% in the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after purchasing an additional 386,670 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of Hershey by 1,194.0% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock worth $45,837,000 after purchasing an additional 230,077 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Trading Down 2.4 %

Hershey stock opened at $158.40 on Friday. The Hershey Company has a one year low of $156.10 and a one year high of $211.92. The business’s fifty day moving average is $174.11 and its 200 day moving average is $185.41. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The stock has a market capitalization of $32.05 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 4.38 and a beta of 0.38.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were paid a $1.37 dividend. The ex-dividend date was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.46%. Hershey’s dividend payout ratio is presently 63.13%.

Analysts Set New Price Targets

A number of research firms recently issued reports on HSY. UBS Group downgraded shares of Hershey from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $226.00 to $209.00 in a research note on Monday, October 7th. Citigroup lowered their target price on Hershey from $165.00 to $159.00 and set a “sell” rating for the company in a research note on Wednesday. Sanford C. Bernstein cut Hershey from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $230.00 to $205.00 in a research note on Monday, October 7th. JPMorgan Chase & Co. lowered their price objective on Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $183.00 target price on shares of Hershey in a research report on Tuesday, December 10th. Six equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $182.21.

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.