Absher Wealth Management LLC Acquires 1,356 Shares of The Hershey Company (NYSE:HSY)

Absher Wealth Management LLC lifted its stake in shares of The Hershey Company (NYSE:HSY) by 7.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 19,392 shares of the company’s stock after acquiring an additional 1,356 shares during the period. Absher Wealth Management LLC’s holdings in Hershey were worth $3,284,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Park Avenue Securities LLC increased its stake 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 period. Czech National Bank grew its stake in shares of Hershey by 6.9% in the 3rd quarter. Czech National Bank now owns 30,082 shares of the company’s stock worth $5,769,000 after buying an additional 1,952 shares during the last quarter. GAMMA Investing LLC grew its position in Hershey by 33.0% during the 3rd quarter. GAMMA Investing LLC now owns 4,054 shares of the company’s stock valued at $777,000 after purchasing an additional 1,005 shares during the last quarter. Atomi Financial Group Inc. bought a new position in Hershey in the 3rd quarter valued at approximately $235,000. Finally, City Holding Co. raised its position in Hershey by 42.4% in the 3rd quarter. City Holding Co. now owns 849 shares of the company’s stock worth $163,000 after buying an additional 253 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HSY. Barclays cut their target price on shares of Hershey from $180.00 to $170.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. UBS Group lowered their price objective on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Bank of America reiterated a “neutral” rating and issued a $180.00 price target on shares of Hershey in a report on Thursday, December 12th. Mizuho lowered their price objective on shares of Hershey from $170.00 to $140.00 in a research note on Wednesday. Finally, Wells Fargo & Company reduced their price objective on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. Seven research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, Hershey currently has a consensus rating of “Hold” and an average target price of $167.10.

Insider Activity

In related news, CAO Jennifer Mccalman sold 278 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $148.00, for a total value of $41,144.00. Following the sale, the chief accounting officer now directly owns 2,682 shares of the company’s stock, valued at $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.34% of the company’s stock.

Hershey Stock Up 0.8 %

Shares of Hershey stock opened at $145.96 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $211.92. The stock has a market cap of $29.53 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 4.30 and a beta of 0.37. The business has a fifty day simple moving average of $165.80 and a 200 day simple moving average of $181.22.

Hershey 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.