The Hershey Company (NYSE:HSY) Shares Sold by Davis R M Inc.

Davis R M Inc. cut its stake in The Hershey Company (NYSE:HSY) by 3.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 136,632 shares of the company’s stock after selling 4,313 shares during the quarter. Davis R M Inc. owned about 0.07% of Hershey worth $26,203,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC raised its stake in Hershey by 30,461.7% during the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock worth $1,100,130,000 after purchasing an additional 571,766 shares during the period. Confluence Investment Management LLC raised its position in shares of Hershey by 297.9% during the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock valued at $131,959,000 after buying an additional 537,419 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in shares of Hershey during the 2nd quarter valued at approximately $82,123,000. Principal Financial Group Inc. lifted its holdings in Hershey by 66.7% in the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after acquiring an additional 389,404 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its position in Hershey by 1,194.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock worth $45,837,000 after acquiring an additional 230,077 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Stifel Nicolaus reduced their target price on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Citigroup lowered shares of Hershey from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. Piper Sandler upped their target price on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Argus downgraded shares of Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, Barclays lowered their price objective on shares of Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Five 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, the company currently has a consensus rating of “Hold” and a consensus price target of $189.33.

Hershey Stock Down 0.1 %

Shares of NYSE:HSY opened at $174.81 on Monday. 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 fifty-two week low of $168.16 and a fifty-two week high of $211.92. The stock has a market cap of $35.37 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 4.19 and a beta of 0.38. The firm’s 50 day moving average price is $184.51 and its 200 day moving average price is $190.90.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be paid a dividend of $1.37 per share. The ex-dividend date is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.13%. Hershey’s payout ratio is currently 63.13%.

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.