Arthur M. Cohen & Associates LLC Sells 2,240 Shares of The Hershey Company (NYSE:HSY)

Arthur M. Cohen & Associates LLC reduced its holdings in shares of The Hershey Company (NYSE:HSY) by 35.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,052 shares of the company’s stock after selling 2,240 shares during the period. Arthur M. Cohen & Associates LLC’s holdings in Hershey were worth $686,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Burns J W & Co. Inc. NY raised its holdings in Hershey by 0.8% in the 3rd quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock worth $1,411,000 after purchasing an additional 58 shares during the period. Brighton Jones LLC increased its position in Hershey by 2.3% in the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after buying an additional 59 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of Hershey by 1.1% in the third quarter. Park Avenue Securities LLC now owns 5,646 shares of the company’s stock worth $1,083,000 after buying an additional 62 shares during the period. Salomon & Ludwin LLC lifted its position in shares of Hershey by 23.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 333 shares of the company’s stock valued at $64,000 after buying an additional 63 shares in the last quarter. Finally, Forum Financial Management LP grew its stake in shares of Hershey by 1.6% during the 3rd quarter. Forum Financial Management LP now owns 4,130 shares of the company’s stock valued at $792,000 after acquiring an additional 64 shares during the period. 57.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HSY. Wells Fargo & Company lowered their price target on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a report on Friday. Bank of America reaffirmed a “neutral” rating and issued a $180.00 target price on shares of Hershey in a report on Thursday, December 12th. JPMorgan Chase & Co. decreased their price target on Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a report on Thursday. Jefferies Financial Group dropped their price objective on Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research note on Thursday, October 31st. Finally, Redburn Atlantic started coverage on Hershey in a research note on Tuesday, October 22nd. They set a “sell” rating and a $165.00 target price on the stock. Six investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $176.42.

Hershey Trading Down 0.8 %

Shares of HSY stock opened at $152.82 on Friday. The stock’s 50 day simple moving average is $171.86 and its two-hundred day simple moving average is $184.39. The Hershey Company has a 1 year low of $150.31 and a 1 year high of $211.92. The company has a market cap of $30.92 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 4.31 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.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were paid a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Monday, November 18th. Hershey’s dividend payout ratio is currently 63.13%.

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.