Merit Financial Group LLC Raises Stock Position in The Hershey Company (NYSE:HSY)

Merit Financial Group LLC boosted its position in The Hershey Company (NYSE:HSY) by 80.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,369 shares of the company’s stock after purchasing an additional 8,171 shares during the quarter. Merit Financial Group LLC’s holdings in Hershey were worth $3,111,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in Hershey by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock worth $144,743,000 after buying an additional 25,780 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Hershey during the 2nd quarter valued at about $1,106,000. Brighton Jones LLC increased its position in shares of Hershey by 2.3% in the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after purchasing an additional 59 shares during the last quarter. AE Wealth Management LLC raised its stake in Hershey by 5.6% in the second quarter. AE Wealth Management LLC now owns 3,782 shares of the company’s stock valued at $695,000 after purchasing an additional 200 shares in the last quarter. Finally, Sei Investments Co. lifted its position in Hershey by 48.3% during the second quarter. Sei Investments Co. now owns 80,858 shares of the company’s stock valued at $14,864,000 after purchasing an additional 26,318 shares during the last quarter. 57.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Mizuho dropped their price objective on shares of Hershey from $195.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, December 23rd. Bank of America reiterated a “neutral” rating and issued a $180.00 price objective on shares of Hershey in a report on Thursday, December 12th. Barclays decreased their price objective on Hershey from $180.00 to $170.00 and set an “equal weight” rating on the stock in a report on Friday. JPMorgan Chase & Co. cut their target price on Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, UBS Group decreased their price target on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a research note on Thursday. Six analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $176.42.

Hershey Price Performance

Shares of Hershey stock opened at $152.82 on Monday. The company has a market cap of $30.92 billion, a PE ratio of 17.61, a P/E/G ratio of 4.31 and a beta of 0.38. The business has a 50 day moving average of $171.86 and a 200 day moving average of $184.39. The Hershey Company has a 52 week low of $150.31 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 Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend was Monday, November 18th. Hershey’s payout ratio is 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.