Aigen Investment Management LP Invests $561,000 in The Hershey Company (NYSE:HSY)

Aigen Investment Management LP acquired a new position in The Hershey Company (NYSE:HSY) in the fourth quarter, HoldingsChannel reports. The firm acquired 3,310 shares of the company’s stock, valued at approximately $561,000.

A number of other hedge funds have also recently made changes to their positions in the business. Avestar Capital LLC lifted its holdings in shares of Hershey by 6.0% in the 3rd quarter. Avestar Capital LLC now owns 1,175 shares of the company’s stock worth $225,000 after acquiring an additional 67 shares during the last quarter. Parthenon LLC raised its holdings in Hershey by 0.3% during the 3rd quarter. Parthenon LLC now owns 24,240 shares of the company’s stock valued at $4,649,000 after buying an additional 75 shares during the last quarter. Kingsview Wealth Management LLC raised its holdings in Hershey by 1.0% during the 3rd quarter. Kingsview Wealth Management LLC now owns 8,151 shares of the company’s stock valued at $1,563,000 after buying an additional 80 shares during the last quarter. Private Trust Co. NA raised its holdings in Hershey by 1.5% during the 4th quarter. Private Trust Co. NA now owns 5,438 shares of the company’s stock valued at $921,000 after buying an additional 81 shares during the last quarter. Finally, Waterfront Wealth Inc. raised its holdings in Hershey by 1.4% during the 4th quarter. Waterfront Wealth Inc. now owns 5,744 shares of the company’s stock valued at $973,000 after buying an additional 82 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors.

Insider Activity at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $148.00, for a total transaction of $41,144.00. Following the sale, the chief accounting officer now directly owns 2,682 shares of the company’s stock, valued at approximately $396,936. This represents a 9.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on HSY. Barclays lowered their price target on shares of Hershey from $170.00 to $160.00 and set an “equal weight” rating for the company in a report on Monday, February 10th. Piper Sandler lowered shares of Hershey from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $153.00 to $120.00 in a report on Friday, January 31st. Jefferies Financial Group lowered their price target on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating for the company in a report on Tuesday, January 21st. Wells Fargo & Company lowered their price target on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Finally, Bank of America reiterated a “neutral” rating and set a $180.00 price target on shares of Hershey in a report on Thursday, December 12th. Five equities research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $164.15.

Hershey Stock Up 1.6 %

NYSE:HSY opened at $179.87 on Friday. The firm’s 50-day moving average price is $161.21 and its 200-day moving average price is $176.78. The company has a market capitalization of $36.41 billion, a PE ratio of 16.50, a P/E/G ratio of 5.90 and a beta of 0.37. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $211.92.

Hershey (NYSE:HSY) last released its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. On average, equities analysts predict that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Monday, February 17th will be given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Friday, February 14th. Hershey’s dividend payout ratio (DPR) is 50.28%.

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.