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

Graypoint LLC bought a new position in The Hershey Company (NYSE:HSY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,037 shares of the company’s stock, valued at approximately $345,000.

A number of other institutional investors also recently modified their holdings of the business. GHP Investment Advisors Inc. raised its holdings in Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after acquiring an additional 55 shares during the period. Burns J W & Co. Inc. NY raised its stake in shares of Hershey by 0.8% during the 3rd quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock valued at $1,411,000 after purchasing an additional 58 shares during the period. Brighton Jones LLC lifted its holdings in Hershey by 2.3% during the 2nd quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after purchasing an additional 59 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in Hershey by 10.4% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 647 shares of the company’s stock worth $119,000 after purchasing an additional 61 shares during the period. Finally, Park Avenue Securities LLC grew its holdings in Hershey by 1.1% during the 3rd quarter. Park Avenue Securities LLC now owns 5,646 shares of the company’s stock valued at $1,083,000 after buying an additional 62 shares in the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Trading Down 2.4 %

NYSE HSY opened at $158.40 on Friday. The firm has a market cap 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. The Hershey Company has a 1-year low of $156.10 and a 1-year high of $211.92. The stock has a 50-day moving average of $174.11 and a 200-day moving average of $185.41. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76.

Hershey Dividend Announcement

The business 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. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.46%. Hershey’s payout ratio is currently 63.13%.

Wall Street Analysts Forecast Growth

HSY has been the subject of a number of analyst reports. TD Cowen cut their price objective on shares of Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a research report on Wednesday. Jefferies Financial Group reduced their price target on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. lowered their price objective on Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Redburn Atlantic started coverage on Hershey in a research report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 target price for the company. Finally, Stifel Nicolaus lowered their price target on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Six investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to MarketBeat, the stock has a consensus 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.