Clear Harbor Asset Management LLC Grows Stock Holdings in The Hershey Company (NYSE:HSY)

Clear Harbor Asset Management LLC increased its position in shares of The Hershey Company (NYSE:HSY) by 22.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,116 shares of the company’s stock after acquiring an additional 384 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Hershey were worth $358,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of HSY. Ashton Thomas Securities LLC acquired a new position in shares of Hershey during the 3rd quarter worth about $25,000. Grove Bank & Trust lifted its stake in Hershey by 248.0% during the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 124 shares during the last quarter. Peterson Financial Group Inc. acquired a new position in Hershey in the third quarter valued at approximately $46,000. Future Financial Wealth Managment LLC acquired a new position in Hershey in the third quarter valued at approximately $48,000. Finally, ST Germain D J Co. Inc. increased its stake in Hershey by 61.7% in the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock valued at $44,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Stock Performance

NYSE:HSY opened at $153.53 on Wednesday. The firm has a market cap of $31.07 billion, a price-to-earnings ratio of 17.69, a price-to-earnings-growth ratio of 4.20 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. The Hershey Company has a 1-year low of $150.31 and a 1-year high of $211.92. The firm’s fifty day moving average price is $171.34 and its 200 day moving average price is $184.17.

Hershey Announces Dividend

The company 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 annualized dividend and a yield of 3.57%. Hershey’s dividend payout ratio is currently 63.13%.

Wall Street Analysts Forecast Growth

HSY has been the subject of several recent analyst reports. 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 report on Friday, January 17th. Mizuho reduced their price target on shares of Hershey from $195.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, December 23rd. Sanford C. Bernstein lowered Hershey from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $230.00 to $205.00 in a report on Monday, October 7th. TD Cowen cut their target price on Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, Redburn Atlantic initiated coverage on Hershey in a research report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price for the company. Six investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. Based on data from MarketBeat, Hershey currently has an average rating of “Hold” and a consensus target price of $175.00.

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.