Manning & Napier Advisors LLC Decreases Stock Position in The Hershey Company (NYSE:HSY)

Manning & Napier Advisors LLC decreased its holdings in The Hershey Company (NYSE:HSY - Free Report) by 6.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,906 shares of the company's stock after selling 4,228 shares during the quarter. Manning & Napier Advisors LLC's holdings in Hershey were worth $10,822,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Securities LLC acquired a new stake in Hershey in the third quarter valued at about $25,000. Grove Bank & Trust boosted its stake in shares of Hershey by 248.0% in the fourth quarter. Grove Bank & Trust now owns 174 shares of the company's stock valued at $29,000 after buying an additional 124 shares in the last quarter. ST Germain D J Co. Inc. grew its holdings in Hershey by 61.7% during the fourth quarter. ST Germain D J Co. Inc. now owns 262 shares of the company's stock worth $44,000 after acquiring an additional 100 shares during the period. Peterson Financial Group Inc. purchased a new position in Hershey in the third quarter worth $46,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Hershey in the third quarter valued at $48,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Trading Up 1.8 %

Shares of HSY stock traded up $2.72 during trading hours on Thursday, hitting $151.95. 555,733 shares of the company were exchanged, compared to its average volume of 1,839,992. The firm has a fifty day moving average of $167.90 and a 200 day moving average of $182.50. 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 $147.60 and a 1 year high of $211.92. The firm has a market cap of $30.75 billion, a PE ratio of 17.48, a PEG ratio of 4.28 and a beta of 0.38.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were issued a $1.37 dividend. The ex-dividend date was Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.61%. Hershey's dividend payout ratio (DPR) is 63.13%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HSY. Piper Sandler cut their price target on shares of Hershey from $168.00 to $153.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. JPMorgan Chase & Co. reduced their price target on shares of Hershey from $171.00 to $151.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Wells Fargo & Company lowered their price target on Hershey from $150.00 to $140.00 and set an "underweight" rating on the stock in a report on Friday, January 17th. UBS Group reduced their price objective on Hershey from $189.00 to $163.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Hershey from $184.00 to $148.00 and set a "hold" rating on the stock in a report on Thursday, January 23rd. Six research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $171.79.

Hershey Company 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.