Merit Financial Group LLC Purchases 8,171 Shares of The Hershey Company (NYSE:HSY)

Merit Financial Group LLC increased its position in The Hershey Company (NYSE:HSY) by 80.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,369 shares of the company’s stock after acquiring an additional 8,171 shares during the period. Merit Financial Group LLC’s holdings in Hershey were worth $3,111,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in shares of Hershey in the third quarter worth $25,000. ST Germain D J Co. Inc. raised its position in Hershey by 61.7% in the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock worth $44,000 after buying an additional 100 shares during the last quarter. Peterson Financial Group Inc. bought a new position in Hershey during the 3rd quarter valued at about $46,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Hershey during the 3rd quarter valued at about $48,000. Finally, City State Bank raised its holdings in shares of Hershey by 210.0% during the fourth quarter. City State Bank now owns 310 shares of the company’s stock valued at $52,000 after purchasing an additional 210 shares during the last quarter. 57.96% of the stock is owned by institutional investors.

Hershey Trading Down 0.8 %

Shares of HSY stock opened at $152.82 on Monday. The stock has a fifty day simple moving average of $171.86 and a two-hundred day simple 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 firm has a market capitalization of $30.92 billion, a PE ratio of 17.61, a PEG ratio of 4.31 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. Investors of record on Monday, November 18th were issued a $1.37 dividend. The ex-dividend date was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.59%. Hershey’s dividend payout ratio is presently 63.13%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Mizuho dropped their target price on shares of Hershey from $195.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday, December 23rd. Sanford C. Bernstein downgraded Hershey from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $230.00 to $205.00 in a research note on Monday, October 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $183.00 price objective on shares of Hershey in a research report on Tuesday, December 10th. TD Cowen dropped their target price on Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, Stifel Nicolaus reduced their price target on shares of Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Six equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $176.42.

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.