First Hawaiian Bank Lowers Holdings in The Hershey Company (NYSE:HSY)

First Hawaiian Bank decreased its position in The Hershey Company (NYSE:HSY) by 7.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,591 shares of the company’s stock after selling 271 shares during the period. First Hawaiian Bank’s holdings in Hershey were worth $608,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Hershey in the third quarter valued at approximately $1,337,000. Principal Financial Group Inc. raised its stake in 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 buying an additional 389,404 shares in the last quarter. HighTower Advisors LLC raised its stake in Hershey by 61.9% in the third quarter. HighTower Advisors LLC now owns 120,159 shares of the company’s stock worth $23,052,000 after buying an additional 45,936 shares in the last quarter. LPL Financial LLC raised its stake in Hershey by 10.0% in the second quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock worth $58,951,000 after buying an additional 29,246 shares in the last quarter. Finally, Pensionfund Sabic raised its stake in Hershey by 55.6% in the fourth quarter. Pensionfund Sabic now owns 8,400 shares of the company’s stock worth $1,423,000 after buying an additional 3,000 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

NYSE:HSY opened at $158.40 on Friday. The firm’s fifty day moving average is $174.11 and its two-hundred day moving average is $185.41. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The Hershey Company has a one year low of $156.10 and a one year high of $211.92. The firm has a market cap of $32.05 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 4.38 and a beta of 0.38.

Hershey Announces Dividend

The company 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. This represents a $5.48 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend was Monday, November 18th. Hershey’s payout ratio is currently 63.13%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. reduced their price objective 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. Sanford C. Bernstein downgraded shares of Hershey from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $230.00 to $205.00 in a research note on Monday, October 7th. Bank of America reissued a “neutral” rating and issued a $180.00 price objective on shares of Hershey in a research note on Thursday, December 12th. Finally, Citigroup reduced their price target on Hershey from $165.00 to $159.00 and set a “sell” rating on the stock in a research report on Wednesday. Six equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $182.21.

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.