Spinnaker Investment Group LLC Takes Position in The Hershey Company (NYSE:HSY)

Spinnaker Investment Group LLC purchased a new position in The Hershey Company (NYSE:HSY) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,053 shares of the company’s stock, valued at approximately $348,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Burns J W & Co. Inc. NY increased its position in shares of Hershey by 0.8% during the third quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock worth $1,411,000 after acquiring an additional 58 shares during the period. Park Avenue Securities LLC raised its position in Hershey by 1.1% during the 3rd quarter. Park Avenue Securities LLC now owns 5,646 shares of the company’s stock valued at $1,083,000 after purchasing an additional 62 shares in the last quarter. Salomon & Ludwin LLC lifted its holdings in shares of Hershey by 23.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 333 shares of the company’s stock worth $64,000 after buying an additional 63 shares during the period. Forum Financial Management LP grew its position in shares of Hershey by 1.6% during the 3rd quarter. Forum Financial Management LP now owns 4,130 shares of the company’s stock worth $792,000 after buying an additional 64 shares in the last quarter. Finally, Avestar Capital LLC increased its stake in shares of Hershey by 6.0% during the third quarter. Avestar Capital LLC now owns 1,175 shares of the company’s stock valued at $225,000 after buying an additional 67 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Trading Down 0.8 %

NYSE HSY opened at $149.84 on Friday. The Hershey Company has a 1 year low of $148.74 and a 1 year high of $211.92. 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 company has a market capitalization of $30.32 billion, a PE ratio of 17.26, a P/E/G ratio of 4.30 and a beta of 0.38. The company has a fifty day moving average of $170.12 and a 200 day moving average of $183.73.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were paid a $1.37 dividend. The ex-dividend date was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.66%. Hershey’s payout ratio is 63.13%.

Analyst Upgrades and Downgrades

HSY has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their target price on shares of Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Barclays dropped their price objective on shares of Hershey from $180.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Redburn Atlantic started coverage on shares of Hershey in a report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $183.00 target price on shares of Hershey in a research report on Tuesday, December 10th. Finally, Jefferies Financial Group cut their price target on Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a report on Tuesday. Six analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to MarketBeat, Hershey currently has a consensus rating of “Hold” and an average target price of $172.32.

About Hershey

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.