Field & Main Bank Sells 1,355 Shares of The Hershey Company (NYSE:HSY)

Field & Main Bank lessened its stake in shares of The Hershey Company (NYSE:HSY) by 30.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,160 shares of the company’s stock after selling 1,355 shares during the quarter. Field & Main Bank’s holdings in Hershey were worth $535,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Burns J W & Co. Inc. NY lifted its stake in Hershey by 0.8% in the third quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock worth $1,411,000 after acquiring an additional 58 shares during the period. Park Avenue Securities LLC lifted its position in Hershey by 1.1% during the third quarter. Park Avenue Securities LLC now owns 5,646 shares of the company’s stock valued at $1,083,000 after buying an additional 62 shares during the period. Salomon & Ludwin LLC boosted its holdings in shares of Hershey by 23.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 333 shares of the company’s stock valued at $64,000 after buying an additional 63 shares in the last quarter. Forum Financial Management LP grew its position in shares of Hershey by 1.6% in the 3rd quarter. Forum Financial Management LP now owns 4,130 shares of the company’s stock worth $792,000 after buying an additional 64 shares during the period. Finally, Avestar Capital LLC lifted its position in Hershey by 6.0% during the 3rd quarter. Avestar Capital LLC now owns 1,175 shares of the company’s stock valued at $225,000 after acquiring an additional 67 shares during the period. Institutional investors own 57.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HSY. UBS Group cut their price objective on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. TD Cowen reduced their target price on Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Bank of America restated a “neutral” rating and set a $180.00 price objective on shares of Hershey in a research report on Thursday, December 12th. Jefferies Financial Group lowered their target price on Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a report on Tuesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Hershey from $184.00 to $148.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Six equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to MarketBeat, Hershey has an average rating of “Hold” and an average target price of $171.79.

Hershey Price Performance

Shares of Hershey stock traded down $0.86 on Wednesday, hitting $148.87. 110,473 shares of the company traded hands, compared to its average volume of 1,849,329. The Hershey Company has a 52 week low of $147.60 and a 52 week high of $211.92. The business has a 50-day simple moving average of $168.39 and a 200 day simple moving average of $182.73. 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 stock has a market capitalization of $30.12 billion, a P/E ratio of 17.17, a price-to-earnings-growth ratio of 4.28 and a beta of 0.38.

Hershey Dividend Announcement

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 3.68%. The ex-dividend date was Monday, November 18th. Hershey’s payout ratio is currently 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.