Griffin Asset Management Inc. Cuts Stake in The Hershey Company (NYSE:HSY)

Griffin Asset Management Inc. decreased its position in The Hershey Company (NYSE:HSY) by 24.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,714 shares of the company’s stock after selling 3,404 shares during the period. Griffin Asset Management Inc.’s holdings in Hershey were worth $1,814,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in HSY. Ashton Thomas Securities LLC acquired a new stake in Hershey in the third quarter valued at $25,000. Grove Bank & Trust raised its stake in shares of Hershey by 248.0% during the 4th quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after buying an additional 124 shares during the last quarter. ST Germain D J Co. Inc. boosted its position in shares of Hershey by 61.7% in the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock worth $44,000 after buying an additional 100 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in Hershey in the 3rd quarter valued at about $46,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Hershey in the 3rd quarter valued at about $48,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Stifel Nicolaus reduced their target price on shares of Hershey from $180.00 to $170.00 and set a “hold” rating on the stock in a report on Friday. TD Cowen reduced their price target on Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. UBS Group cut their price target on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company decreased their price target 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. Finally, Bank of America reaffirmed a “neutral” rating and set a $180.00 target price on shares of Hershey in a research note on Thursday, December 12th. Six investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to data from MarketBeat.com, Hershey presently has a consensus rating of “Hold” and an average price target of $171.79.

Hershey Trading Up 1.7 %

NYSE:HSY opened at $153.33 on Tuesday. The firm has a 50-day moving average price of $169.13 and a two-hundred day moving average price of $183.24. 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 52 week low of $147.60 and a 52 week high of $211.92. The firm has a market cap of $31.03 billion, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 4.28 and a beta of 0.38.

Hershey Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.57%. Hershey’s payout ratio is 63.13%.

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.