Old North State Wealth Management LLC Invests $513,000 in The Hershey Company (NYSE:HSY)

Old North State Wealth Management LLC acquired a new stake in shares of The Hershey Company (NYSE:HSY) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,031 shares of the company’s stock, valued at approximately $513,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of HSY. Park Avenue Securities LLC grew its position in shares of Hershey by 1.1% during the 3rd quarter. Park Avenue Securities LLC now owns 5,646 shares of the company’s stock valued at $1,083,000 after purchasing an additional 62 shares in the last quarter. Salomon & Ludwin LLC increased its stake 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 acquiring an additional 63 shares during the last quarter. Forum Financial Management LP raised its holdings 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 valued at $792,000 after acquiring an additional 64 shares in the last quarter. Avestar Capital LLC boosted its position in shares of 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 last quarter. Finally, Northstar Group Inc. grew its holdings in shares of Hershey by 3.3% during the third quarter. Northstar Group Inc. now owns 2,239 shares of the company’s stock worth $429,000 after purchasing an additional 71 shares in the last quarter. Institutional investors own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

HSY has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their target price on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. TD Cowen dropped their price objective on shares of Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. cut their target price on shares of Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Piper Sandler downgraded Hershey from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $153.00 to $120.00 in a research report on Friday, January 31st. Finally, Barclays cut their price objective on Hershey from $180.00 to $170.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Seven research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to data from MarketBeat, Hershey currently has an average rating of “Hold” and a consensus price target of $169.79.

Hershey Stock Performance

Hershey stock opened at $144.78 on Wednesday. The Hershey Company has a 1-year low of $143.95 and a 1-year high of $211.92. The firm has a market cap of $29.30 billion, a P/E ratio of 16.68, a P/E/G ratio of 4.30 and a beta of 0.38. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average of $166.37 and a 200-day moving average of $181.55.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were paid a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.79%. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

Insider Activity at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the completion of the sale, the chief accounting officer now directly owns 2,682 shares in the company, valued at $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.29% of the stock is owned by corporate insiders.

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.