Meridian Wealth Management LLC Invests $334,000 in The Hershey Company (NYSE:HSY)

Meridian Wealth Management LLC acquired a new stake in The Hershey Company (NYSE:HSY) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,742 shares of the company’s stock, valued at approximately $334,000.

Several other hedge funds and other institutional investors have also made changes to their positions in HSY. Ashton Thomas Securities LLC purchased a new stake in Hershey in the third quarter valued at $25,000. Capital Advisors Ltd. LLC increased its position in shares of Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. GHP Investment Advisors Inc. lifted its holdings in shares of Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of Hershey in the 2nd quarter valued at about $29,000. Finally, Peterson Financial Group Inc. purchased a new position in Hershey during the 3rd quarter worth approximately $46,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a report on Tuesday, September 10th. Barclays lowered their price objective on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Royal Bank of Canada reduced their target price on shares of Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Redburn Atlantic initiated coverage on Hershey in a report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price target on the stock. Finally, Bank of America reduced their price objective on Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Five analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to data from MarketBeat.com, Hershey has an average rating of “Hold” and an average target price of $189.33.

Hershey Price Performance

Shares of NYSE HSY opened at $175.49 on Tuesday. The company’s fifty day moving average is $184.00 and its two-hundred day moving average is $190.73. 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 firm has a market capitalization of $35.51 billion, a P/E ratio of 20.22, a PEG ratio of 4.19 and a beta of 0.38. The Hershey Company has a one year low of $168.16 and a one year high of $211.92.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be issued a $1.37 dividend. The ex-dividend date is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.12%. Hershey’s dividend payout ratio (DPR) is presently 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.