Flagship Harbor Advisors LLC Boosts Holdings in The Hershey Company (NYSE:HSY)

Flagship Harbor Advisors LLC increased its position in shares of The Hershey Company (NYSE:HSY) by 57.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,810 shares of the company’s stock after buying an additional 2,482 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Hershey were worth $1,153,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in HSY. State Street Corp lifted its stake in shares of Hershey by 5.8% in the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock valued at $1,348,127,000 after purchasing an additional 386,670 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Hershey by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock valued at $841,476,000 after buying an additional 109,336 shares during the last quarter. Geode Capital Management LLC boosted its stake in Hershey by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,753,751 shares of the company’s stock worth $717,606,000 after buying an additional 35,688 shares during the period. Principal Financial Group Inc. increased its position 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 acquiring an additional 389,404 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Hershey by 3.2% in the 3rd quarter. Stifel Financial Corp now owns 964,748 shares of the company’s stock valued at $185,027,000 after acquiring an additional 29,507 shares during the period. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. UBS Group lowered their price objective on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Stifel Nicolaus dropped their price objective on Hershey from $180.00 to $170.00 and set a “hold” rating for the company in a research note on Friday. Citigroup decreased their target price on Hershey from $165.00 to $159.00 and set a “sell” rating on the stock in a research note on Wednesday, January 8th. JPMorgan Chase & Co. dropped their target price on Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Piper Sandler reduced their price target on shares of Hershey from $168.00 to $153.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. 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 stock currently has a consensus rating of “Hold” and an average price target of $171.79.

Hershey Stock Performance

NYSE HSY opened at $150.54 on Monday. The company has a fifty day moving average of $169.13 and a two-hundred day moving average of $183.26. 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. The company has a market capitalization of $30.46 billion, a PE ratio of 17.34, a P/E/G ratio of 4.28 and a beta of 0.38.

Hershey Dividend Announcement

The company also recently declared 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. This represents a $5.48 annualized dividend and a yield of 3.64%. The ex-dividend date was Monday, November 18th. Hershey’s dividend payout ratio (DPR) 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.