Impact Partnership Wealth LLC Makes New Investment in The Hershey Company (NYSE:HSY)

Impact Partnership Wealth LLC bought a new stake in shares of The Hershey Company (NYSE:HSY) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,604 shares of the company’s stock, valued at approximately $780,000.

Several other hedge funds and other institutional investors also recently modified their holdings of HSY. State Street Corp raised its position in shares of Hershey by 5.8% in the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company’s stock worth $1,348,127,000 after acquiring an additional 386,670 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Hershey by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock valued at $841,476,000 after purchasing an additional 109,336 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Hershey by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,753,751 shares of the company’s stock valued at $717,606,000 after acquiring an additional 35,688 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Hershey by 66.7% in the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after purchasing an additional 389,404 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Hershey by 3.2% during the third quarter. Stifel Financial Corp now owns 964,748 shares of the company’s stock valued at $185,027,000 after buying an additional 29,507 shares during the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Sanford C. Bernstein lowered Hershey from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $230.00 to $205.00 in a research report on Monday, October 7th. Bank of America reissued a “neutral” rating and set a $180.00 price objective on shares of Hershey in a report on Thursday, December 12th. Citigroup cut their target price on shares of Hershey from $165.00 to $159.00 and set a “sell” rating for the company in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft dropped their price target on Hershey from $184.00 to $148.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, Mizuho dropped their target price on Hershey from $195.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, December 23rd. Six equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. Based on data from MarketBeat, Hershey has a consensus rating of “Hold” and an average target price of $172.32.

Hershey Stock Down 0.8 %

Shares of HSY opened at $149.84 on Friday. The firm has a fifty day moving average price of $170.12 and a 200-day moving average price of $183.73. 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 market capitalization of $30.32 billion, a P/E ratio of 17.26, a P/E/G ratio of 4.28 and a beta of 0.38. The Hershey Company has a 12-month low of $148.74 and a 12-month high of $211.92.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, November 18th were given a $1.37 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.66%. Hershey’s dividend payout ratio (DPR) is 63.13%.

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.