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International Assets Investment Management LLC Sells 570,801 Shares of The Hershey Company (NYSE:HSY)

Hershey logo with Consumer Staples background

International Assets Investment Management LLC lowered its stake in The Hershey Company (NYSE:HSY - Free Report) by 99.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,842 shares of the company's stock after selling 570,801 shares during the period. International Assets Investment Management LLC's holdings in Hershey were worth $480,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Massachusetts Financial Services Co. MA purchased a new stake in shares of Hershey in the second quarter valued at approximately $82,123,000. Principal Financial Group Inc. grew its stake in Hershey by 66.7% in the 3rd 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 during the last quarter. State Street Corp increased its holdings in Hershey by 5.8% during the 3rd quarter. State Street Corp now owns 7,029,551 shares of the company's stock valued at $1,348,127,000 after acquiring an additional 386,670 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in Hershey by 1,194.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company's stock worth $45,837,000 after acquiring an additional 230,077 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Hershey by 23.2% in the second quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company's stock valued at $143,962,000 after purchasing an additional 147,215 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company's stock.

Hershey Price Performance

Shares of NYSE:HSY traded down $3.82 during trading on Friday, reaching $158.40. The company had a trading volume of 3,027,672 shares, compared to its average volume of 1,724,911. The firm's fifty day moving average is $174.11 and its 200 day moving average is $185.41. The firm has a market capitalization of $32.05 billion, a PE ratio of 18.25, a price-to-earnings-growth ratio of 4.38 and a beta of 0.38. The Hershey Company has a twelve month low of $156.10 and a twelve 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.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, November 18th were issued a $1.37 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.46%. Hershey's payout ratio is currently 63.13%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HSY. Piper Sandler upped their price target on shares of Hershey from $165.00 to $168.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $183.00 price target on shares of Hershey in a report on Tuesday, December 10th. Sanford C. Bernstein lowered shares of Hershey from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $230.00 to $205.00 in a report on Monday, October 7th. Barclays decreased their price target on shares of Hershey from $202.00 to $180.00 and set an "equal weight" rating on the stock in a report on Monday, November 11th. Finally, Stifel Nicolaus decreased their price target on shares of Hershey from $195.00 to $180.00 and set a "hold" rating on the stock in a report on Friday, October 25th. Six analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company's stock. According to MarketBeat, Hershey presently has a consensus rating of "Hold" and a consensus target price of $182.21.

Get Our Latest Research Report on Hershey

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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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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