The Hershey Company (NYSE:HSY) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. reduced its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 25.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 9,015 shares of the company's stock after selling 3,077 shares during the quarter. Moors & Cabot Inc.'s holdings in Hershey were worth $1,729,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake in shares of Hershey by 30,461.7% in the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company's stock worth $1,100,130,000 after purchasing an additional 571,766 shares in the last quarter. Confluence Investment Management LLC grew its position in shares of Hershey by 297.9% during the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company's stock worth $131,959,000 after purchasing an additional 537,419 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in Hershey during the 2nd quarter valued at approximately $82,123,000. Principal Financial Group Inc. lifted its holdings in Hershey by 66.7% in the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company's stock worth $186,571,000 after purchasing an additional 389,404 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in Hershey by 1,194.0% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company's stock valued at $45,837,000 after buying an additional 230,077 shares in the last quarter. Institutional investors own 57.96% of the company's stock.

Hershey Stock Performance

Shares of HSY stock traded up $0.95 during trading hours on Thursday, hitting $174.95. The company's stock had a trading volume of 268,387 shares, compared to its average volume of 1,698,650. 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 company has a 50 day moving average of $185.50 and a 200 day moving average of $191.28. The Hershey Company has a 12-month low of $168.16 and a 12-month high of $211.92. The stock has a market cap of $35.40 billion, a PE ratio of 20.05, a price-to-earnings-growth ratio of 4.08 and a beta of 0.38.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Monday, November 18th. Hershey's payout ratio is presently 63.13%.

Wall Street Analysts Forecast Growth

Several research firms have commented on HSY. Stifel Nicolaus dropped their price objective on shares of Hershey from $195.00 to $180.00 and set a "hold" rating for the company in a report on Friday, October 25th. Barclays decreased their price objective on Hershey from $202.00 to $180.00 and set an "equal weight" rating on the stock in a report on Monday, November 11th. Sanford C. Bernstein downgraded Hershey from an "outperform" rating to a "market perform" rating and cut their target price for the company from $230.00 to $205.00 in a research report on Monday, October 7th. Bank of America reduced their price objective on shares of Hershey from $200.00 to $195.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada dropped their price objective on Hershey from $205.00 to $183.00 and set a "sector perform" rating for the company in a report on Friday, November 8th. Five analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to MarketBeat, Hershey has a consensus rating of "Hold" and an average price target of $189.33.

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.