Sanibel Captiva Trust Company Inc. Invests $247,000 in The Hershey Company (NYSE:HSY)

Sanibel Captiva Trust Company Inc. purchased a new position in The Hershey Company (NYSE:HSY) during the 4th quarter, HoldingsChannel reports. The fund purchased 1,458 shares of the company’s stock, valued at approximately $247,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HSY. Alhambra Investment Management LLC raised its holdings in Hershey by 12.5% in the 4th quarter. Alhambra Investment Management LLC now owns 3,840 shares of the company’s stock valued at $650,000 after acquiring an additional 426 shares during the last quarter. Merit Financial Group LLC increased its holdings in shares of Hershey by 80.1% in the fourth quarter. Merit Financial Group LLC now owns 18,369 shares of the company’s stock valued at $3,111,000 after purchasing an additional 8,171 shares during the last quarter. Relyea Zuckerberg Hanson LLC lifted its position in Hershey by 39.7% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 1,745 shares of the company’s stock worth $295,000 after buying an additional 496 shares in the last quarter. Avanza Fonder AB acquired a new position in Hershey during the fourth quarter worth $2,517,000. Finally, Woodstock Corp grew its holdings in Hershey by 34.8% in the 4th quarter. Woodstock Corp now owns 6,896 shares of the company’s stock valued at $1,168,000 after buying an additional 1,780 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on HSY shares. Piper Sandler reduced their price target on Hershey from $168.00 to $153.00 and set a “neutral” rating on the stock in a report on Thursday. Redburn Atlantic initiated coverage on shares of Hershey in a research note on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price target for the company. UBS Group reduced their price target on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lowered their price objective on Hershey from $171.00 to $151.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Jefferies Financial Group decreased their price target on Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research note on Thursday, October 31st. Six investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $176.42.

Hershey Stock Down 0.8 %

Shares of NYSE HSY opened at $152.82 on Monday. The Hershey Company has a 12-month low of $150.31 and a 12-month high of $211.92. The stock has a market cap of $30.92 billion, a P/E ratio of 17.61, a PEG ratio of 4.31 and a beta of 0.38. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The business’s fifty day simple moving average is $171.86 and its 200-day simple moving average is $184.39.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were paid a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.59%. The ex-dividend date was Monday, November 18th. Hershey’s payout ratio is presently 63.13%.

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.