Wesbanco Bank Inc. Cuts Position in The Hershey Company (NYSE:HSY)

Wesbanco Bank Inc. trimmed its position in shares of The Hershey Company (NYSE:HSY) by 33.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,700 shares of the company’s stock after selling 850 shares during the quarter. Wesbanco Bank Inc.’s holdings in Hershey were worth $288,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in Hershey in the third quarter valued at approximately $25,000. Grove Bank & Trust increased its stake in Hershey by 248.0% in the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock valued at $29,000 after purchasing an additional 124 shares during the last quarter. ST Germain D J Co. Inc. increased its stake in Hershey by 61.7% in the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock valued at $44,000 after purchasing an additional 100 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in Hershey in the third quarter valued at approximately $46,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Hershey in the third quarter valued at approximately $48,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HSY shares. Piper Sandler dropped their price target on shares of Hershey from $168.00 to $153.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group dropped their price target on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a research note on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and issued a $183.00 price objective on shares of Hershey in a report on Tuesday, December 10th. Bank of America reissued a “neutral” rating and issued a $180.00 price objective on shares of Hershey in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. decreased their price objective on Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Six investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $171.79.

Hershey Price Performance

Shares of NYSE HSY opened at $150.54 on Friday. The stock has a fifty day moving average price of $169.54 and a 200 day moving average price of $183.49. The company has a market cap of $30.46 billion, a PE ratio of 17.34, a P/E/G ratio of 4.28 and a beta of 0.38. 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 Hershey Company has a 1-year low of $147.60 and a 1-year high of $211.92.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were given a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend was Monday, November 18th. Hershey’s payout ratio is 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.