Econ Financial Services Corp Boosts Position in The Hershey Company (NYSE:HSY)

Econ Financial Services Corp raised its stake in The Hershey Company (NYSE:HSY) by 32.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,119 shares of the company’s stock after purchasing an additional 519 shares during the period. Econ Financial Services Corp’s holdings in Hershey were worth $359,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new position in Hershey during the 3rd quarter worth approximately $25,000. Grove Bank & Trust boosted its holdings in shares of Hershey by 248.0% in the fourth quarter. Grove Bank & Trust now owns 174 shares of the company’s stock valued at $29,000 after acquiring an additional 124 shares during the period. ST Germain D J Co. Inc. boosted its holdings in shares of Hershey by 61.7% in the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company’s stock valued at $44,000 after acquiring an additional 100 shares during the period. Peterson Financial Group Inc. purchased a new position in shares of Hershey during the third quarter worth approximately $46,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Hershey in the 3rd quarter valued at $48,000. Institutional investors and hedge funds own 57.96% of the company’s stock.

Hershey Price Performance

HSY stock opened at $144.78 on Wednesday. The company has a market cap of $29.30 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 4.30 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 firm has a 50 day moving average of $165.80 and a 200-day moving average of $181.22. The Hershey Company has a 12-month low of $143.95 and a 12-month high of $211.92.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date of this dividend was Monday, November 18th. Hershey’s dividend payout ratio is currently 63.13%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HSY. Royal Bank of Canada reissued a “sector perform” rating and set a $178.00 price objective on shares of Hershey in a research report on Monday. Bank of America reissued a “neutral” rating and set a $180.00 price target on shares of Hershey in a report on Thursday, December 12th. Redburn Atlantic began coverage on Hershey in a research note on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price objective for the company. Piper Sandler lowered Hershey from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $153.00 to $120.00 in a report on Friday, January 31st. Finally, Barclays cut their price target on Hershey from $180.00 to $170.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Seven investment analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $169.79.

Insider Buying and Selling at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value of $41,144.00. Following the completion of the transaction, the chief accounting officer now owns 2,682 shares of the company’s stock, valued at $396,936. The trade was a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.29% of the stock is currently owned by insiders.

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.