Sage Capital Advisors llc Lowers Stock Position in The Hershey Company (NYSE:HSY)

Sage Capital Advisors llc lessened its holdings in shares of The Hershey Company (NYSE:HSY) by 5.1% in the fourth quarter, Holdings Channel reports. The firm owned 17,370 shares of the company’s stock after selling 929 shares during the period. Sage Capital Advisors llc’s holdings in Hershey were worth $2,942,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. ST Germain D J Co. Inc. increased its holdings in Hershey by 61.7% in the 4th 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 in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Hershey by 0.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 102,126 shares of the company’s stock worth $17,295,000 after acquiring an additional 502 shares in the last quarter. Farmers Trust Co. boosted its holdings in Hershey by 4.0% in the 4th quarter. Farmers Trust Co. now owns 3,913 shares of the company’s stock worth $663,000 after acquiring an additional 150 shares during the period. Douglas Lane & Associates LLC grew its position in Hershey by 15.5% in the fourth quarter. Douglas Lane & Associates LLC now owns 317,461 shares of the company’s stock valued at $53,762,000 after acquiring an additional 42,550 shares in the last quarter. Finally, Diversified Trust Co purchased a new stake in shares of Hershey during the fourth quarter valued at approximately $200,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Hershey from $160.00 to $150.00 and set an “underweight” rating on the stock in a research note on Tuesday. Jefferies Financial Group dropped their target price on Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research report on Thursday, October 31st. Redburn Atlantic initiated coverage on Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price target for the company. Piper Sandler upped their target price on Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, UBS Group lowered shares of Hershey from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $226.00 to $209.00 in a research note on Monday, October 7th. Six analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $182.21.

Hershey Stock Performance

Shares of NYSE:HSY traded down $3.54 on Friday, hitting $158.68. The company’s stock had a trading volume of 986,402 shares, compared to its average volume of 1,370,901. The Hershey Company has a 12 month low of $158.50 and a 12 month high of $211.92. The stock’s 50-day moving average is $174.53 and its two-hundred day moving average is $185.61. 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 company has a market capitalization of $32.11 billion, a price-to-earnings ratio of 18.28, a price-to-earnings-growth ratio of 4.38 and a beta of 0.38.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were issued a dividend of $1.37 per share. The ex-dividend date was Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.45%. 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.