The Hershey Company (NYSE:HSY) Stake Cut by Kovitz Investment Group Partners LLC

Kovitz Investment Group Partners LLC lowered its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 48.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 5,812 shares of the company's stock after selling 5,408 shares during the period. Kovitz Investment Group Partners LLC's holdings in Hershey were worth $1,115,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP boosted its stake in Hershey by 49.1% during the 3rd quarter. Wellington Management Group LLP now owns 4,993 shares of the company's stock valued at $958,000 after purchasing an additional 1,645 shares during the period. Wallace Capital Management Inc. boosted its position in shares of Hershey by 1.4% during the third quarter. Wallace Capital Management Inc. now owns 10,675 shares of the company's stock worth $2,047,000 after buying an additional 150 shares during the period. State Street Corp boosted its position in shares of Hershey by 5.8% during the third quarter. State Street Corp now owns 7,029,551 shares of the company's stock worth $1,348,127,000 after buying an additional 386,670 shares during the period. Stifel Financial Corp grew its holdings in Hershey by 3.2% in the 3rd quarter. Stifel Financial Corp now owns 964,748 shares of the company's stock worth $185,027,000 after buying an additional 29,507 shares in the last quarter. Finally, Safe Harbor Fiduciary LLC bought a new stake in Hershey during the 3rd quarter valued at $469,000. Institutional investors and hedge funds own 57.96% of the company's stock.

Hershey Trading Up 3.7 %

Shares of HSY traded up $6.48 during midday trading on Thursday, hitting $183.48. The stock had a trading volume of 1,832,205 shares, compared to its average volume of 1,812,316. The business has a 50-day simple moving average of $180.25 and a two-hundred day simple moving average of $188.54. The firm has a market cap of $37.13 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 4.18 and a beta of 0.37. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The Hershey Company has a fifty-two week low of $168.16 and a fifty-two week high of $211.92.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Monday, November 18th. Hershey's dividend payout ratio is 63.13%.

Analyst Upgrades and Downgrades

HSY has been the topic of a number of research analyst reports. Bank of America reissued a "neutral" rating and set a $180.00 price target on shares of Hershey in a report on Thursday. Redburn Atlantic started coverage on shares of Hershey in a research note on Tuesday, October 22nd. They set a "sell" rating and a $165.00 target price on the stock. Argus lowered shares of Hershey from a "buy" rating to a "hold" rating in a research note on Wednesday, August 14th. UBS Group lowered shares of Hershey from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $226.00 to $209.00 in a research note on Monday, October 7th. Finally, Barclays cut their target price on Hershey from $202.00 to $180.00 and set an "equal weight" rating for the company in a research report on Monday, November 11th. Six equities research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. According to data from MarketBeat, Hershey presently has an average rating of "Hold" and a consensus price target of $185.17.

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.