Burney Co. Cuts Stake in The Hershey Company (NYSE:HSY)

Burney Co. cut its holdings in The Hershey Company (NYSE:HSY) by 4.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,377 shares of the company’s stock after selling 1,373 shares during the quarter. Burney Co.’s holdings in Hershey were worth $5,144,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Burns J W & Co. Inc. NY lifted its position in shares of Hershey by 0.8% in the 3rd quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock worth $1,411,000 after purchasing an additional 58 shares during the period. Brighton Jones LLC lifted its holdings in Hershey by 2.3% during the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after buying an additional 59 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in Hershey by 10.4% during the second quarter. Brown Brothers Harriman & Co. now owns 647 shares of the company’s stock worth $119,000 after buying an additional 61 shares during the period. Park Avenue Securities LLC boosted its position in 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 acquiring an additional 62 shares in the last quarter. Finally, Salomon & Ludwin LLC increased its holdings in shares of Hershey by 23.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 333 shares of the company’s stock valued at $64,000 after acquiring an additional 63 shares during the period. 57.96% of the stock is currently owned by institutional investors.

Hershey Trading Down 0.0 %

Hershey stock opened at $155.30 on Wednesday. The stock has a 50-day moving average price of $173.19 and a 200 day moving average price of $185.04. The company has a market capitalization of $31.43 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 4.38 and a beta of 0.38. The Hershey Company has a 52 week low of $154.46 and a 52 week high of $211.92. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.53%. The ex-dividend date was Monday, November 18th. Hershey’s dividend payout ratio (DPR) is currently 63.13%.

Analyst Ratings Changes

A number of brokerages recently weighed in on HSY. Barclays decreased their price objective on Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Redburn Atlantic assumed coverage on shares of Hershey in a research report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price target for the company. Piper Sandler lifted their price objective on shares of Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. UBS Group cut shares of Hershey from a “buy” rating to a “neutral” rating and decreased their target price for the company from $226.00 to $209.00 in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Six 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, the company has an average rating of “Hold” and a consensus price target of $182.21.

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.