Fruth Investment Management Grows Position in The Hershey Company (NYSE:HSY)

Fruth Investment Management boosted its holdings in The Hershey Company (NYSE:HSY) by 1.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,992 shares of the company’s stock after buying an additional 535 shares during the quarter. Hershey accounts for approximately 1.5% of Fruth Investment Management’s holdings, making the stock its 15th biggest position. Fruth Investment Management’s holdings in Hershey were worth $5,417,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of HSY. State Street Corp increased its position in Hershey by 5.8% during the third quarter. State Street Corp now owns 7,029,551 shares of the company’s stock valued at $1,348,127,000 after acquiring an additional 386,670 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Hershey by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock valued at $841,476,000 after purchasing an additional 109,336 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Hershey by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,753,751 shares of the company’s stock worth $717,606,000 after purchasing an additional 35,688 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Hershey by 66.7% in the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after buying an additional 389,404 shares during the last quarter. Finally, Stifel Financial Corp grew its position in Hershey by 3.2% during the third quarter. Stifel Financial Corp now owns 964,748 shares of the company’s stock valued at $185,027,000 after buying an additional 29,507 shares during the period. Institutional investors own 57.96% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on HSY. Jefferies Financial Group decreased their price target on shares of Hershey from $150.00 to $134.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 21st. Barclays cut their price target on Hershey from $180.00 to $170.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Wells Fargo & Company decreased their price objective on Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. Piper Sandler downgraded Hershey from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $153.00 to $120.00 in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. decreased their target price on shares of Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Seven analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $167.10.

Insider Transactions at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of Hershey stock in a transaction that occurred on Monday, February 3rd. The stock was 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 in the company, valued at approximately $396,936. The trade was a 9.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.29% of the company’s stock.

Hershey Price Performance

Hershey stock opened at $145.96 on Thursday. The Hershey Company has a 52-week low of $140.13 and a 52-week high of $211.92. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The firm’s fifty day moving average is $165.80 and its 200 day moving average is $181.22. The company has a market cap of $29.53 billion, a price-to-earnings ratio of 16.82, a PEG ratio of 4.30 and a beta of 0.38.

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.