Integrated Wealth Concepts LLC grew its stake in shares of The Hershey Company (NYSE:HSY - Free Report) by 49.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 11,073 shares of the company's stock after purchasing an additional 3,647 shares during the period. Integrated Wealth Concepts LLC's holdings in Hershey were worth $2,124,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC bought a new stake in Hershey during the third quarter worth $25,000. Capital Advisors Ltd. LLC lifted its holdings in Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company's stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. GHP Investment Advisors Inc. boosted its holdings in Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company's stock worth $28,000 after buying an additional 55 shares during the period. OFI Invest Asset Management purchased a new position in Hershey during the 2nd quarter valued at about $29,000. Finally, Gradient Investments LLC grew its stake in Hershey by 71.9% during the second quarter. Gradient Investments LLC now owns 251 shares of the company's stock valued at $46,000 after acquiring an additional 105 shares in the last quarter. 57.96% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on HSY. Stifel Nicolaus lowered their price objective on Hershey from $195.00 to $180.00 and set a "hold" rating on the stock in a research report on Friday, October 25th. Citigroup downgraded Hershey from a "neutral" rating to a "sell" rating and dropped their price target for the company from $195.00 to $182.00 in a research report on Tuesday, August 27th. Jefferies Financial Group lowered their target price on shares of Hershey from $163.00 to $161.00 and set an "underperform" rating on the stock in a research note on Thursday, October 31st. Redburn Atlantic started coverage on shares of Hershey in a report on Tuesday, October 22nd. They issued a "sell" rating and a $165.00 price target on the stock. Finally, Piper Sandler lifted their price objective on shares of Hershey from $165.00 to $168.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Five analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $189.33.
View Our Latest Research Report on Hershey
Hershey Trading Up 0.1 %
NYSE:HSY traded up $0.20 during midday trading on Friday, reaching $174.70. 2,332,272 shares of the stock traded hands, compared to its average volume of 2,182,235. The stock has a market capitalization of $35.35 billion, a P/E ratio of 20.14, a PEG ratio of 4.26 and a beta of 0.37. The Hershey Company has a 12 month low of $168.16 and a 12 month high of $211.92. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The company has a fifty day moving average of $181.00 and a 200 day moving average of $189.22.
Hershey Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be issued 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 dividend yield of 3.14%. Hershey's dividend payout ratio is currently 63.13%.
About Hershey
(
Free Report)
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.
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