Grove Bank & Trust Buys 124 Shares of The Hershey Company (NYSE:HSY)

Grove Bank & Trust boosted its stake in The Hershey Company (NYSE:HSY) by 248.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 174 shares of the company’s stock after acquiring an additional 124 shares during the period. Grove Bank & Trust’s holdings in Hershey were worth $29,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HSY. AE Wealth Management LLC boosted its holdings in Hershey by 5.6% in the second quarter. AE Wealth Management LLC now owns 3,782 shares of the company’s stock valued at $695,000 after acquiring an additional 200 shares during the last quarter. Sei Investments Co. lifted its stake in Hershey by 48.3% in the second quarter. Sei Investments Co. now owns 80,858 shares of the company’s stock valued at $14,864,000 after buying an additional 26,318 shares during the period. ProShare Advisors LLC boosted its holdings in shares of Hershey by 11.2% during the 2nd quarter. ProShare Advisors LLC now owns 27,204 shares of the company’s stock worth $5,001,000 after buying an additional 2,742 shares in the last quarter. Frank Rimerman Advisors LLC acquired a new stake in shares of Hershey during the 2nd quarter worth approximately $371,000. Finally, Gabelli Funds LLC bought a new stake in shares of Hershey in the 2nd quarter valued at $460,000. 57.96% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. UBS Group reduced their price target on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $183.00 price target on shares of Hershey in a research note on Tuesday, December 10th. Redburn Atlantic began coverage on Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price target on the stock. Wells Fargo & Company cut their price target on Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a report on Friday. Finally, Stifel Nicolaus cut their price target on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Six analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $176.42.

Hershey Stock Performance

Shares of Hershey stock opened at $152.82 on Tuesday. The business’s fifty day simple moving average is $171.86 and its 200 day simple moving average is $184.39. The firm has a market capitalization of $30.92 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 4.31 and a beta of 0.38. The Hershey Company has a 12 month low of $150.31 and a 12 month high of $211.92. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were issued a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.59%. Hershey’s dividend payout ratio (DPR) 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.