Kestra Investment Management LLC Takes $588,000 Position in The Hershey Company (NYSE:HSY)

Kestra Investment Management LLC bought a new position in shares of The Hershey Company (NYSE:HSY) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 3,065 shares of the company’s stock, valued at approximately $588,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Hershey during the 3rd quarter worth approximately $1,337,000. LPL Financial LLC lifted its position in Hershey by 10.0% in the second quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock valued at $58,951,000 after acquiring an additional 29,246 shares during the last quarter. MAI Capital Management boosted its stake in Hershey by 11.6% in the third quarter. MAI Capital Management now owns 123,160 shares of the company’s stock valued at $23,620,000 after acquiring an additional 12,832 shares in the last quarter. Portfolio Design Labs LLC acquired a new position in Hershey in the third quarter valued at $1,852,000. Finally, Advisors Asset Management Inc. grew its holdings 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 worth $5,386,000 after purchasing an additional 4,464 shares during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HSY. Jefferies Financial Group reduced their target price on Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a report on Thursday, October 31st. Royal Bank of Canada reduced their price objective on Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a research note on Friday, November 8th. Stifel Nicolaus lowered their target price on shares of Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Bank of America reduced their price target on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $189.33.

Hershey Price Performance

Shares of HSY opened at $176.13 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The stock’s 50 day moving average is $182.20 and its two-hundred day moving average is $189.81. The Hershey Company has a twelve month low of $168.16 and a twelve month high of $211.92. The firm has a market capitalization of $35.64 billion, a PE ratio of 20.29, a P/E/G ratio of 4.22 and a beta of 0.38.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Monday, November 18th. Hershey’s dividend payout ratio is presently 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.