Old North State Wealth Management LLC Purchases New Holdings in The Hershey Company (NYSE:HSY)

Old North State Wealth Management LLC purchased a new position in The Hershey Company (NYSE:HSY) during the 4th quarter, Holdings Channel.com reports. The firm purchased 3,031 shares of the company’s stock, valued at approximately $513,000.

A number of other institutional investors have also recently modified their holdings of HSY. State Street Corp boosted its stake in Hershey by 5.8% in the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after purchasing an additional 386,670 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Hershey by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock valued at $841,476,000 after acquiring an additional 109,336 shares in the last quarter. Geode Capital Management LLC raised its holdings in Hershey by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,753,751 shares of the company’s stock worth $717,606,000 after acquiring an additional 35,688 shares during the last quarter. Principal Financial Group Inc. lifted its position in Hershey by 66.7% in the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after acquiring an additional 389,404 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Hershey by 3.2% during the 3rd quarter. Stifel Financial Corp now owns 964,748 shares of the company’s stock valued at $185,027,000 after purchasing an additional 29,507 shares during the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CAO Jennifer Mccalman sold 278 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the sale, the chief accounting officer now owns 2,682 shares in the company, valued at approximately $396,936. The trade was a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.29% of the stock is owned by company insiders.

Hershey Trading Down 2.0 %

Shares of HSY opened at $144.78 on Wednesday. The Hershey Company has a 1 year low of $143.95 and a 1 year high of $211.92. The company has a 50 day simple moving average of $166.37 and a two-hundred day simple moving average of $181.55. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The firm has a market cap of $29.30 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 4.30 and a beta of 0.38.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were paid a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.79%. The ex-dividend date of this dividend was Monday, November 18th. Hershey’s payout ratio is currently 63.13%.

Wall Street Analyst Weigh In

HSY has been the subject of several research analyst reports. Mizuho reduced 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. Bank of America reissued a “neutral” rating and set a $180.00 price objective on shares of Hershey in a report on Thursday, December 12th. JPMorgan Chase & Co. dropped their target price on shares of Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. UBS Group decreased their target price on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $178.00 price target on shares of Hershey in a research note on Monday. Seven investment analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $169.79.

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.