Hennessy Advisors Inc. Sells 800 Shares of The Hershey Company (NYSE:HSY)

Hennessy Advisors Inc. decreased its position in The Hershey Company (NYSE:HSY) by 5.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 13,100 shares of the company’s stock after selling 800 shares during the quarter. Hennessy Advisors Inc.’s holdings in Hershey were worth $2,218,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in HSY. Ashton Thomas Securities LLC bought a new stake in Hershey in the 3rd quarter worth about $25,000. ST Germain D J Co. Inc. grew its holdings in shares of Hershey by 61.7% in the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock valued at $44,000 after acquiring an additional 100 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of Hershey during the third quarter valued at approximately $46,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Hershey during the third quarter valued at approximately $48,000. Finally, City State Bank lifted its holdings in Hershey by 210.0% during the fourth quarter. City State Bank now owns 310 shares of the company’s stock worth $52,000 after acquiring an additional 210 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Trading Down 0.8 %

Hershey stock opened at $152.82 on Friday. 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 Hershey Company has a fifty-two week low of $150.31 and a fifty-two week high of $211.92. The stock has a market cap of $30.92 billion, a P/E ratio of 17.61, a PEG ratio of 4.31 and a beta of 0.38. The firm’s fifty day moving average price is $171.86 and its 200-day moving average price is $184.39.

Hershey Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. 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. Piper Sandler lowered their price objective on shares of Hershey from $168.00 to $153.00 and set a “neutral” rating on the stock in a research report on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $183.00 target price on shares of Hershey in a research note on Tuesday, December 10th. Bank of America reaffirmed a “neutral” rating and issued a $180.00 price target on shares of Hershey in a report on Thursday, December 12th. Finally, Stifel Nicolaus reduced their price objective on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a report on Friday, October 25th. Six equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $176.42.

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.