Portfolio Design Labs LLC Acquires New Position in The Hershey Company (NYSE:HSY)

Portfolio Design Labs LLC purchased a new position in The Hershey Company (NYSE:HSY) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 9,659 shares of the company’s stock, valued at approximately $1,852,000.

Several other institutional investors have also recently made changes to their positions in HSY. Advisors Asset Management Inc. grew its position in shares of Hershey by 18.9% during the third quarter. Advisors Asset Management Inc. now owns 28,085 shares of the company’s stock valued at $5,386,000 after purchasing an additional 4,464 shares in the last quarter. Jennison Associates LLC raised its position in Hershey by 1.4% in the 3rd quarter. Jennison Associates LLC now owns 168,820 shares of the company’s stock worth $32,376,000 after purchasing an additional 2,404 shares during the period. Commerce Bank lifted its stake in shares of Hershey by 31.9% during the 3rd quarter. Commerce Bank now owns 9,436 shares of the company’s stock worth $1,810,000 after acquiring an additional 2,281 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Hershey during the third quarter worth $60,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Hershey in the 3rd quarter valued at about $1,337,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

Shares of NYSE HSY opened at $170.21 on Wednesday. The stock has a market capitalization of $34.44 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 4.10 and a beta of 0.38. 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 Hershey Company has a 52 week low of $168.16 and a 52 week high of $211.92. The firm has a 50-day simple moving average of $185.99 and a 200-day simple moving average of $191.40.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be issued a $1.37 dividend. The ex-dividend date is Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.22%. Hershey’s dividend payout ratio is presently 63.13%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft increased their target price on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a report on Tuesday, September 10th. Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $195.00 to $182.00 in a research report on Tuesday, August 27th. Royal Bank of Canada lowered their price target on Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a research report on Friday, November 8th. Bank of America dropped their price objective on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a report on Tuesday, October 15th. Finally, Piper Sandler lifted their price target on Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Five 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 currently has a consensus rating of “Hold” and a consensus price target of $189.33.

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.