Grimes & Company Inc. Has $12.72 Million Stake in The Hershey Company (NYSE:HSY)

Grimes & Company Inc. trimmed its position in shares of The Hershey Company (NYSE:HSY) by 17.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,108 shares of the company’s stock after selling 16,123 shares during the quarter. Grimes & Company Inc.’s holdings in Hershey were worth $12,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Burns J W & Co. Inc. NY lifted its holdings in shares of Hershey by 0.8% during the 3rd quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock valued at $1,411,000 after buying an additional 58 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in Hershey by 1.1% in the 3rd quarter. Park Avenue Securities LLC now owns 5,646 shares of the company’s stock worth $1,083,000 after purchasing an additional 62 shares during the last quarter. Salomon & Ludwin LLC lifted its holdings in Hershey by 23.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 333 shares of the company’s stock worth $64,000 after purchasing an additional 63 shares during the last quarter. Forum Financial Management LP lifted its holdings in 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 purchasing an additional 64 shares during the last quarter. Finally, Avestar Capital LLC lifted its holdings in Hershey by 6.0% in the 3rd quarter. Avestar Capital LLC now owns 1,175 shares of the company’s stock worth $225,000 after purchasing an additional 67 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Stock Performance

Shares of NYSE:HSY opened at $150.54 on Friday. The business’s fifty day moving average price is $169.13 and its two-hundred day moving average price is $183.26. The Hershey Company has a fifty-two week low of $147.60 and a fifty-two week high of $211.92. The stock has a market capitalization of $30.46 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 4.28 and a beta of 0.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend was Monday, November 18th. Hershey’s dividend payout ratio (DPR) is 63.13%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Bank of America restated a “neutral” rating and issued a $180.00 target price on shares of Hershey in a report on Thursday, December 12th. 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. Mizuho reduced their target price on Hershey from $195.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, December 23rd. UBS Group dropped their price target on Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Barclays dropped their price target on Hershey from $180.00 to $170.00 and set an “equal weight” 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. According to data from MarketBeat, Hershey currently has a consensus rating of “Hold” and an average target price 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.