Exchange Traded Concepts LLC Buys 13,960 Shares of The Hershey Company (NYSE:HSY)

Exchange Traded Concepts LLC raised its stake in shares of The Hershey Company (NYSE:HSY) by 141.9% during the fourth quarter, Holdings Channel reports. The firm owned 23,796 shares of the company’s stock after buying an additional 13,960 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Hershey were worth $4,030,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in Hershey during the third quarter valued at $25,000. Grove Bank & Trust increased its stake in shares of Hershey by 248.0% in the 4th quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after acquiring an additional 124 shares in the last quarter. ST Germain D J Co. Inc. lifted its position in Hershey by 61.7% during the 4th 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 during the period. Peterson Financial Group Inc. bought a new stake in Hershey during the third quarter worth about $46,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Hershey in the third quarter worth about $48,000. 57.96% of the stock is currently owned by institutional investors.

Hershey Trading Up 0.4 %

Hershey stock opened at $150.54 on Friday. The business has a 50-day simple moving average of $169.13 and a two-hundred day simple moving average of $183.26. The Hershey Company has a 52-week low of $147.60 and a 52-week 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 company has a market cap of $30.46 billion, a P/E ratio of 17.34, a P/E/G ratio of 4.28 and a beta of 0.38.

Hershey Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HSY. Barclays lowered their target price on shares of Hershey from $180.00 to $170.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Jefferies Financial Group lowered their price objective on Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a research note on Tuesday, January 21st. UBS Group cut their target price on Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. JPMorgan Chase & Co. lowered their price target on Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Wells Fargo & Company cut their price objective on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. 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, the stock presently has a consensus rating of “Hold” and a consensus 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.