The Hershey Company (NYSE:HSY) Shares Sold by Banco Santander S.A.

Banco Santander S.A. reduced its position in The Hershey Company (NYSE:HSY - Free Report) by 82.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,814 shares of the company's stock after selling 54,623 shares during the period. Banco Santander S.A.'s holdings in Hershey were worth $2,266,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HSY. International Assets Investment Management LLC grew its position in shares of Hershey by 30,461.7% in the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company's stock valued at $1,100,130,000 after purchasing an additional 571,766 shares during the last quarter. Confluence Investment Management LLC grew its holdings in 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 last quarter. Massachusetts Financial Services Co. MA purchased a new position in Hershey during the second quarter worth $82,123,000. Principal Financial Group Inc. lifted its position in shares of 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 in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its stake in shares of Hershey by 1,194.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company's stock valued at $45,837,000 after acquiring an additional 230,077 shares during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on HSY shares. Citigroup downgraded shares of Hershey from a "neutral" rating to a "sell" rating and cut their target price for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Piper Sandler upped their price objective on shares of Hershey from $165.00 to $168.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Jefferies Financial Group lowered their target price on shares of Hershey from $163.00 to $161.00 and set an "underperform" rating for the company in a research note on Thursday, October 31st. Royal Bank of Canada cut their price target on Hershey from $205.00 to $183.00 and set a "sector perform" rating for the company in a report on Friday, November 8th. Finally, Argus cut Hershey from a "buy" rating to a "hold" rating in a report on Wednesday, August 14th. Five research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $189.33.

Hershey Trading Down 0.1 %

Shares of HSY stock traded down $0.14 during mid-day trading on Friday, reaching $174.81. The company's stock had a trading volume of 1,458,461 shares, compared to its average volume of 1,943,474. The company's 50 day simple moving average is $184.51 and its 200-day simple moving average is $191.01. 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 firm has a market capitalization of $35.37 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 4.19 and a beta of 0.38.

Hershey Announces Dividend

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 given a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.13%. The ex-dividend date is Monday, November 18th. Hershey's dividend payout ratio (DPR) is 63.13%.

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.