Providence Capital Advisors LLC Increases Stock Holdings in The Hershey Company (NYSE:HSY)

Providence Capital Advisors LLC increased its holdings in The Hershey Company (NYSE:HSY) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,142 shares of the company’s stock after purchasing an additional 388 shares during the period. Hershey accounts for 1.3% of Providence Capital Advisors LLC’s investment portfolio, making the stock its 24th biggest position. Providence Capital Advisors LLC’s holdings in Hershey were worth $6,548,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in HSY. Silvercrest Asset Management Group LLC grew its position in shares of Hershey by 4.7% in the first quarter. Silvercrest Asset Management Group LLC now owns 11,118 shares of the company’s stock valued at $2,162,000 after purchasing an additional 495 shares during the period. Tidal Investments LLC boosted its holdings in Hershey by 86.7% in the first quarter. Tidal Investments LLC now owns 11,869 shares of the company’s stock valued at $2,308,000 after acquiring an additional 5,511 shares during the last quarter. Comerica Bank boosted its holdings in Hershey by 3.4% in the first quarter. Comerica Bank now owns 49,456 shares of the company’s stock valued at $9,619,000 after acquiring an additional 1,607 shares during the last quarter. Swedbank AB acquired a new position in Hershey in the first quarter valued at $25,588,000. Finally, Atria Investments Inc boosted its holdings in Hershey by 30.5% in the first quarter. Atria Investments Inc now owns 32,581 shares of the company’s stock valued at $6,337,000 after acquiring an additional 7,612 shares during the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Price Performance

Shares of NYSE:HSY opened at $174.09 on Thursday. The company’s fifty day moving average is $183.01 and its two-hundred day moving average is $190.39. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The Hershey Company has a 12-month low of $168.16 and a 12-month high of $211.92. The company has a market cap of $35.23 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 4.21 and a beta of 0.38.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

Wall Street Analysts Forecast Growth

HSY has been the topic of a number of research analyst reports. Redburn Atlantic initiated coverage on Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price on the stock. Barclays reduced their price objective on Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Royal Bank of Canada reduced their price objective on Hershey from $205.00 to $183.00 and set a “sector perform” rating on the stock in a research note on Friday, November 8th. Citigroup cut Hershey from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $195.00 to $182.00 in a research note on Tuesday, August 27th. Finally, Jefferies Financial Group reduced their price objective on Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research note on Thursday, October 31st. Five research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to data from MarketBeat, Hershey currently has an average rating of “Hold” and an average target price of $189.33.

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.