Precedent Wealth Partners LLC Grows Holdings in The Hershey Company (NYSE:HSY)

Precedent Wealth Partners LLC raised its position in The Hershey Company (NYSE:HSY) by 2.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 4,183 shares of the company’s stock after purchasing an additional 105 shares during the period. Precedent Wealth Partners LLC’s holdings in Hershey were worth $708,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of HSY. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Hershey during the 3rd quarter valued at $1,337,000. Principal Financial Group Inc. grew its position in Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after buying an additional 389,404 shares during the period. Woodstock Corp increased its holdings in Hershey by 34.8% during the fourth quarter. Woodstock Corp now owns 6,896 shares of the company’s stock worth $1,168,000 after buying an additional 1,780 shares during the last quarter. HighTower Advisors LLC raised its position in Hershey by 61.9% in the third quarter. HighTower Advisors LLC now owns 120,159 shares of the company’s stock worth $23,052,000 after acquiring an additional 45,936 shares during the period. Finally, Pensionfund Sabic boosted its stake in Hershey by 55.6% in the fourth quarter. Pensionfund Sabic now owns 8,400 shares of the company’s stock valued at $1,423,000 after acquiring an additional 3,000 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Up 0.4 %

HSY opened at $150.54 on Friday. 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 Hershey Company has a twelve month low of $147.60 and a twelve month high of $211.92. The stock has a market capitalization of $30.46 billion, a price-to-earnings ratio of 17.34, a PEG ratio of 4.28 and a beta of 0.38. The firm has a 50 day moving average price of $169.13 and a 200-day moving average price of $183.26.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Monday, November 18th. Hershey’s payout ratio is currently 63.13%.

Analyst Ratings Changes

HSY has been the subject of several research reports. 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. decreased their price objective on Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Redburn Atlantic started coverage on shares of Hershey in a report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective on the stock. TD Cowen reduced their target price on shares of Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Finally, Wells Fargo & Company cut their price objective on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Six equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $171.79.

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.