International Assets Investment Management LLC Sells 570,801 Shares of The Hershey Company (NYSE:HSY)

International Assets Investment Management LLC decreased its position in shares of The Hershey Company (NYSE:HSY) by 99.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,842 shares of the company’s stock after selling 570,801 shares during the quarter. International Assets Investment Management LLC’s holdings in Hershey were worth $480,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Ashton Thomas Securities LLC bought a new stake in Hershey during the 3rd quarter valued at $25,000. GHP Investment Advisors Inc. grew its holdings in shares of Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after buying an additional 55 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in shares of Hershey during the third quarter worth about $46,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Hershey in the 3rd quarter worth about $48,000. Finally, Quarry LP lifted its position in Hershey by 123.9% in the 2nd quarter. Quarry LP now owns 300 shares of the company’s stock valued at $55,000 after acquiring an additional 166 shares in the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Wells Fargo & Company decreased their price objective on Hershey from $160.00 to $150.00 and set an “underweight” rating for the company in a report on Tuesday. UBS Group downgraded Hershey from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $226.00 to $209.00 in a report on Monday, October 7th. Barclays dropped their price objective on Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. JPMorgan Chase & Co. reduced 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. Finally, Bank of America reiterated a “neutral” rating and issued a $180.00 target price on shares of Hershey in a report on Thursday, December 12th. Six 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 has an average rating of “Hold” and a consensus price target of $182.21.

Hershey Trading Down 2.4 %

Shares of HSY opened at $158.40 on Friday. The Hershey Company has a fifty-two week low of $156.10 and a fifty-two week high of $211.92. The business has a 50-day moving average of $174.11 and a 200 day moving average of $185.41. The firm has a market cap of $32.05 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 4.38 and a beta of 0.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were given a $1.37 dividend. 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 dividend payout ratio (DPR) is currently 63.13%.

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.