Wealthfront Advisers LLC cut its holdings in shares of Hershey Co (NYSE:HSY) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,703 shares of the company’s stock after selling 432 shares during the quarter. Wealthfront Advisers LLC’s holdings in Hershey were worth $2,308,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of HSY. Stifel Financial Corp grew its position in shares of Hershey by 25.3% in the 3rd quarter. Stifel Financial Corp now owns 233,977 shares of the company’s stock worth $36,224,000 after acquiring an additional 47,183 shares in the last quarter. Colony Group LLC acquired a new position in shares of Hershey in the 2nd quarter worth approximately $274,000. Arabesque Asset Management Ltd acquired a new position in shares of Hershey in the 3rd quarter worth approximately $1,844,000. Fulton Breakefield Broenniman LLC acquired a new position in shares of Hershey in the 3rd quarter worth approximately $555,000. Finally, Beese Fulmer Investment Management Inc. grew its position in shares of Hershey by 78.5% in the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 55,670 shares of the company’s stock worth $8,628,000 after acquiring an additional 24,489 shares in the last quarter. Institutional investors own 53.27% of the company’s stock.
NYSE:HSY opened at $152.83 on Wednesday. Hershey Co has a 12-month low of $100.80 and a 12-month high of $162.20. The firm has a market capitalization of $31.56 billion, a P/E ratio of 25.18, a P/E/G ratio of 3.52 and a beta of 0.05. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.47. The business has a 50 day simple moving average of $147.74 and a 200 day simple moving average of $149.64.
In other Hershey news, SVP Kevin R. Walling sold 2,500 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $145.75, for a total transaction of $364,375.00. Also, CEO Michele Buck sold 3,832 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $150.00, for a total value of $574,800.00. Following the transaction, the chief executive officer now owns 149,429 shares of the company’s stock, valued at approximately $22,414,350. The disclosure for this sale can be found here. Insiders have sold a total of 52,230 shares of company stock valued at $7,720,027 in the last 90 days. Insiders own 0.41% of the company’s stock.
HSY has been the subject of several research reports. BMO Capital Markets lifted their target price on Hershey from $133.00 to $138.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Deutsche Bank initiated coverage on Hershey in a research report on Wednesday, December 11th. They issued a “hold” rating and a $155.00 target price for the company. Royal Bank of Canada initiated coverage on Hershey in a research report on Thursday, October 17th. They issued a “sector perform” rating and a $158.00 target price for the company. UBS Group set a $147.00 target price on Hershey and gave the stock a “hold” rating in a research report on Friday, October 25th. Finally, Bank of America lowered Hershey from a “buy” rating to a “neutral” rating and set a $155.00 target price for the company. in a research report on Friday, December 20th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $146.27.
The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.
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