The Hershey Company (NYSE:HSY) Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC increased its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 61.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,159 shares of the company's stock after acquiring an additional 45,936 shares during the period. HighTower Advisors LLC owned about 0.06% of Hershey worth $23,052,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Hilltop Holdings Inc. lifted its stake in Hershey by 8.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 6,565 shares of the company's stock worth $1,259,000 after acquiring an additional 504 shares in the last quarter. Ascent Group LLC purchased a new stake in Hershey during the 3rd quarter worth about $1,475,000. Benjamin Edwards Inc. increased its holdings in Hershey by 4,739.1% during the 3rd quarter. Benjamin Edwards Inc. now owns 89,475 shares of the company's stock worth $17,160,000 after purchasing an additional 87,626 shares during the period. Atom Investors LP purchased a new stake in Hershey during the 3rd quarter worth about $208,000. Finally, Kestra Investment Management LLC purchased a new stake in Hershey during the 3rd quarter worth about $588,000. Institutional investors and hedge funds own 57.96% of the company's stock.

Hershey Stock Performance

NYSE:HSY traded up $0.20 during mid-day trading on Friday, reaching $174.70. 2,331,987 shares of the stock were exchanged, compared to its average volume of 1,726,834. The company has a 50 day simple moving average of $181.00 and a 200-day simple moving average of $189.22. The stock has a market capitalization of $35.35 billion, a P/E ratio of 20.12, a P/E/G ratio of 4.30 and a beta of 0.37. 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 1 year low of $168.16 and a 1 year high of $211.92.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be paid a dividend of $1.37 per share. The ex-dividend date is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.14%. Hershey's dividend payout ratio is presently 63.13%.

Wall Street Analyst Weigh In

HSY has been the topic of several recent research reports. UBS Group downgraded Hershey from a "buy" rating to a "neutral" rating and cut their price target for the stock from $226.00 to $209.00 in a report on Monday, October 7th. Citigroup downgraded Hershey from a "neutral" rating to a "sell" rating and cut their price target for the stock from $195.00 to $182.00 in a report on Tuesday, August 27th. Piper Sandler upped 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. Barclays cut their price target on Hershey from $202.00 to $180.00 and set an "equal weight" rating on the stock in a report on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Hershey from $191.00 to $199.00 and gave the stock a "hold" rating in a report on Tuesday, September 10th. Five investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to data from MarketBeat, Hershey currently has a consensus rating of "Hold" and an average target price of $189.33.

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.