Independent Wealth Network Inc. Sells 347 Shares of The Hershey Company (NYSE:HSY)

Independent Wealth Network Inc. decreased its stake in shares of The Hershey Company (NYSE:HSY) by 8.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,951 shares of the company’s stock after selling 347 shares during the period. Independent Wealth Network Inc.’s holdings in Hershey were worth $669,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of HSY. Ashton Thomas Securities LLC bought a new stake in shares of Hershey in the third quarter valued at about $25,000. Grove Bank & Trust raised its stake in Hershey by 248.0% in the 4th quarter. Grove Bank & Trust now owns 174 shares of the company’s stock worth $29,000 after purchasing an additional 124 shares in the last quarter. Peterson Financial Group Inc. bought a new stake in Hershey in the 3rd quarter valued at about $46,000. Future Financial Wealth Managment LLC acquired a new position in shares of Hershey during the 3rd quarter worth approximately $48,000. Finally, ST Germain D J Co. Inc. increased its holdings in shares of Hershey by 61.7% during the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock worth $44,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on HSY shares. Bank of America reiterated a “neutral” rating and issued a $180.00 price target on shares of Hershey in a research note on Thursday, December 12th. Stifel Nicolaus reduced their target price on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a report on Friday, October 25th. Sanford C. Bernstein downgraded Hershey from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $230.00 to $205.00 in a research note on Monday, October 7th. TD Cowen reduced their price objective on shares of Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Finally, Barclays dropped their target price on shares of Hershey from $180.00 to $170.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Six analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to data from MarketBeat, Hershey presently has an average rating of “Hold” and a consensus price target of $175.00.

Hershey Trading Down 1.6 %

HSY opened at $151.18 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The Hershey Company has a fifty-two week low of $150.31 and a fifty-two week high of $211.92. The company’s 50 day moving average price is $170.78 and its two-hundred day moving average price is $183.96. The firm has a market capitalization of $30.59 billion, a price-to-earnings ratio of 17.42, a PEG ratio of 4.30 and a beta of 0.38.

Hershey Announces Dividend

The business also recently disclosed 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 of this dividend was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.62%. Hershey’s payout ratio is 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.