The Hershey Company (NYSE:HSY) Shares Sold by American Trust

American Trust cut its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 18.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,855 shares of the company's stock after selling 4,144 shares during the quarter. American Trust's holdings in Hershey were worth $3,616,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in Hershey during the third quarter worth about $25,000. Capital Advisors Ltd. LLC increased its stake in Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company's stock worth $26,000 after acquiring an additional 96 shares during the last quarter. GHP Investment Advisors Inc. increased its stake in Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company's stock worth $28,000 after acquiring an additional 55 shares during the last quarter. OFI Invest Asset Management acquired a new stake in Hershey during the second quarter worth about $29,000. Finally, Gradient Investments LLC boosted its position in shares of Hershey by 71.9% in the second quarter. Gradient Investments LLC now owns 251 shares of the company's stock worth $46,000 after buying an additional 105 shares during the period. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Piper Sandler upped their target price on Hershey from $165.00 to $168.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Wells Fargo & Company downgraded Hershey from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $175.00 to $160.00 in a research report on Thursday. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $183.00 target price on shares of Hershey in a research report on Tuesday. Bank of America reaffirmed a "neutral" rating and issued a $180.00 target price on shares of Hershey in a research report on Thursday. Finally, UBS Group downgraded Hershey from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $226.00 to $209.00 in a research report on Monday, October 7th. Six research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $185.17.

Hershey Stock Down 0.5 %

NYSE HSY traded down $0.85 on Friday, hitting $183.10. 1,985,560 shares of the stock traded hands, compared to its average volume of 1,821,247. The stock has a 50-day moving average of $180.11 and a 200 day moving average of $188.50. The Hershey Company has a twelve month low of $168.16 and a twelve month high of $211.92. The company has a market capitalization of $37.05 billion, a P/E ratio of 21.19, a price-to-earnings-growth ratio of 4.24 and a beta of 0.37. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 2.99%. The ex-dividend date is Monday, November 18th. Hershey's payout ratio is currently 63.13%.

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.