Carderock Capital Management Inc. Sells 1,582 Shares of The Hershey Company (NYSE:HSY)

Carderock Capital Management Inc. lessened its position in shares of The Hershey Company (NYSE:HSY) by 7.8% in the fourth quarter, Holdings Channel reports. The fund owned 18,816 shares of the company’s stock after selling 1,582 shares during the quarter. Carderock Capital Management Inc.’s holdings in Hershey were worth $3,186,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of HSY. Burns J W & Co. Inc. NY boosted its stake in shares of Hershey by 0.8% during the 3rd 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 last quarter. Brighton Jones LLC raised its holdings in Hershey by 2.3% in the 2nd quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after purchasing an additional 59 shares during the period. Park Avenue Securities LLC lifted its position in Hershey by 1.1% during the third 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 grew its holdings in Hershey by 23.3% during the third quarter. Salomon & Ludwin LLC now owns 333 shares of the company’s stock valued at $64,000 after purchasing an additional 63 shares during the period. Finally, Forum Financial Management LP increased its position in Hershey by 1.6% in the third 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. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Down 0.8 %

NYSE HSY opened at $152.82 on Friday. The stock has a 50 day moving average price of $171.86 and a 200-day moving average price of $184.39. The Hershey Company has a one year low of $150.31 and a one year high of $211.92. The company has a market capitalization of $30.92 billion, a P/E ratio of 17.61, a P/E/G ratio of 4.31 and a beta of 0.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders 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 3.59%. Hershey’s payout ratio is currently 63.13%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on HSY shares. JPMorgan Chase & Co. lowered their price objective on Hershey from $171.00 to $151.00 and set a “neutral” rating on the stock in a research report on Thursday. Citigroup lowered their price target on shares of Hershey from $165.00 to $159.00 and set a “sell” rating on the stock in a report on Wednesday, January 8th. Sanford C. Bernstein cut shares of Hershey from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $230.00 to $205.00 in a research note on Monday, October 7th. Wells Fargo & Company lowered their target price on shares of Hershey from $150.00 to $140.00 and set an “underweight” rating on the stock in a research note on Friday. Finally, UBS Group dropped their target price on shares of Hershey from $189.00 to $163.00 and set a “neutral” rating for the company in a report on Thursday. Six equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. Based on data from MarketBeat.com, Hershey presently has a consensus rating of “Hold” and an average price target of $176.42.

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.