Sumitomo Life Insurance Co. Sells 103 Shares of The Hershey Company (NYSE:HSY)

Sumitomo Life Insurance Co. lessened its holdings in The Hershey Company (NYSE:HSY) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,067 shares of the company’s stock after selling 103 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Hershey were worth $519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Public Sector Pension Investment Board raised its holdings in shares of Hershey by 64.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 5,470 shares of the company’s stock worth $1,006,000 after purchasing an additional 2,140 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of Hershey by 8.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 16,646 shares of the company’s stock valued at $3,060,000 after buying an additional 1,328 shares during the period. Sunbelt Securities Inc. lifted its position in shares of Hershey by 19.4% during the 2nd quarter. Sunbelt Securities Inc. now owns 984 shares of the company’s stock valued at $181,000 after buying an additional 160 shares during the last quarter. Quarry LP grew its stake in shares of Hershey by 123.9% during the 2nd quarter. Quarry LP now owns 300 shares of the company’s stock worth $55,000 after acquiring an additional 166 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its holdings in Hershey by 42.3% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 2,829 shares of the company’s stock worth $520,000 after acquiring an additional 841 shares during the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citigroup dropped their price objective on shares of Hershey from $165.00 to $159.00 and set a “sell” rating on the stock in a report on Wednesday, January 8th. 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 report on Wednesday, January 8th. Royal Bank of Canada reissued a “sector perform” rating and set a $183.00 target price on shares of Hershey in a report on Tuesday, December 10th. UBS Group cut their price target on Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Bank of America reiterated a “neutral” rating and set a $180.00 price objective on shares of Hershey in a research note on Thursday, December 12th. Six analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. According to MarketBeat, Hershey presently has an average rating of “Hold” and an average target price of $171.79.

Hershey Trading Up 1.9 %

Shares of HSY stock opened at $152.00 on Friday. The business has a 50-day moving average price of $167.90 and a two-hundred day moving average price of $182.50. The Hershey Company has a 12-month low of $147.60 and a 12-month high of $211.92. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The firm has a market cap of $30.76 billion, a P/E ratio of 17.51, a price-to-earnings-growth ratio of 4.28 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 given a $1.37 dividend. The ex-dividend date was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.61%. Hershey’s payout ratio is 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.