D.A. Davidson & CO. Sells 4,481 Shares of The Hershey Company (NYSE:HSY)

D.A. Davidson & CO. decreased its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 16.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,425 shares of the company's stock after selling 4,481 shares during the period. D.A. Davidson & CO.'s holdings in Hershey were worth $4,493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in HSY. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Hershey during the third quarter worth about $1,337,000. LPL Financial LLC increased its position in Hershey by 10.0% during the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company's stock worth $58,951,000 after purchasing an additional 29,246 shares in the last quarter. MAI Capital Management lifted its stake in Hershey by 11.6% in the 3rd quarter. MAI Capital Management now owns 123,160 shares of the company's stock valued at $23,620,000 after purchasing an additional 12,832 shares during the last quarter. Portfolio Design Labs LLC acquired a new stake in Hershey in the third quarter valued at approximately $1,852,000. Finally, Advisors Asset Management Inc. grew its stake 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 buying an additional 4,464 shares during the last quarter. 57.96% of the stock is owned by institutional investors.

Hershey Trading Up 1.2 %

Shares of Hershey stock traded up $2.04 on Friday, hitting $176.13. 1,525,225 shares of the company's stock traded hands, compared to its average volume of 1,698,233. The company has a fifty day moving average of $182.58 and a two-hundred day moving average of $190.28. The Hershey Company has a one year low of $168.16 and a one year high of $211.92. The company has a market capitalization of $35.64 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 4.17 and a beta of 0.38. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Monday, November 18th. Hershey's dividend payout ratio (DPR) is 63.13%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft increased their price target on Hershey from $191.00 to $199.00 and gave the company a "hold" rating in a research note on Tuesday, September 10th. Jefferies Financial Group dropped their target price on Hershey from $163.00 to $161.00 and set an "underperform" rating for the company in a research report on Thursday, October 31st. Piper Sandler boosted their price target on Hershey from $165.00 to $168.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Bank of America lowered their price objective on Hershey from $200.00 to $195.00 and set a "neutral" rating for the company in a research note on Tuesday, October 15th. Finally, Citigroup downgraded shares of Hershey from a "neutral" rating to a "sell" rating and cut their target price for the stock from $195.00 to $182.00 in a research report on Tuesday, August 27th. Five research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $189.33.

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.