Stablepoint Partners LLC Decreases Stock Holdings in The Hershey Company (NYSE:HSY)

Stablepoint Partners LLC reduced its holdings in shares of The Hershey Company (NYSE:HSY) by 8.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,251 shares of the company’s stock after selling 200 shares during the quarter. Stablepoint Partners LLC’s holdings in Hershey were worth $381,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Ashton Thomas Securities LLC bought a new stake in shares of Hershey during the 3rd quarter worth $25,000. Grove Bank & Trust increased its holdings in Hershey by 248.0% during the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after buying an additional 124 shares during the last quarter. ST Germain D J Co. Inc. increased its holdings in Hershey by 61.7% during the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock worth $44,000 after buying an additional 100 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in Hershey in the third quarter worth about $46,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Hershey in the third quarter valued at about $48,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Piper Sandler decreased their price target on shares of Hershey from $168.00 to $153.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. JPMorgan Chase & Co. decreased 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. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $183.00 price target on shares of Hershey in a research report on Tuesday, December 10th. Mizuho decreased their price objective on Hershey from $195.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, December 23rd. Finally, Jefferies Financial Group lowered their price objective on Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $171.79.

Hershey Price Performance

NYSE:HSY opened at $150.54 on Monday. The Hershey Company has a 52-week low of $147.60 and a 52-week high of $211.92. The stock has a fifty day moving average of $169.13 and a 200 day moving average of $183.26. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The firm has a market capitalization of $30.46 billion, a price-to-earnings ratio of 17.34, a P/E/G ratio of 4.28 and a beta of 0.38.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were issued a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Monday, November 18th. Hershey’s payout ratio is 63.13%.

Hershey Company 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.