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

Sanibel Captiva Trust Company Inc. acquired a new stake in The Hershey Company (NYSE:HSY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,458 shares of the company’s stock, valued at approximately $247,000.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on HSY. Redburn Atlantic initiated coverage on shares of Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price for the company. TD Cowen decreased their target price on shares of Hershey from $190.00 to $172.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. UBS Group cut their price target on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating on the stock in a report on Thursday. Mizuho decreased their price objective on Hershey from $195.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, December 23rd. Finally, Barclays lowered their price objective on Hershey from $180.00 to $170.00 and set an “equal weight” rating for the company in a research report on Friday. Six investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $176.42.

Hershey Stock Down 0.8 %

Hershey stock opened at $152.82 on Monday. The Hershey Company has a 52 week low of $150.31 and a 52 week high of $211.92. The firm has a market cap of $30.92 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 4.31 and a beta of 0.38. The business’s 50-day moving average price is $171.86 and its 200 day moving average price is $184.39. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors 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 of this dividend was Monday, November 18th. Hershey’s dividend payout ratio is currently 63.13%.

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.