PNC Financial Services Group Inc. Sells 11,470 Shares of The Hershey Company (NYSE:HSY)

PNC Financial Services Group Inc. trimmed its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 2.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 424,523 shares of the company's stock after selling 11,470 shares during the period. PNC Financial Services Group Inc. owned 0.21% of Hershey worth $81,415,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Hershey during the third quarter worth approximately $1,337,000. W.G. Shaheen & Associates DBA Whitney & Co increased its holdings in shares of Hershey by 1.9% during the 3rd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 41,238 shares of the company's stock worth $7,909,000 after acquiring an additional 768 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its stake in Hershey by 13.8% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 4,174 shares of the company's stock valued at $801,000 after acquiring an additional 507 shares during the period. Prospera Financial Services Inc lifted its holdings in Hershey by 1.4% during the 3rd quarter. Prospera Financial Services Inc now owns 11,634 shares of the company's stock valued at $2,232,000 after purchasing an additional 163 shares during the last quarter. Finally, Verity & Verity LLC increased its holdings in shares of Hershey by 28.7% in the third quarter. Verity & Verity LLC now owns 68,552 shares of the company's stock valued at $13,147,000 after purchasing an additional 15,283 shares during the last quarter. 57.96% of the stock is owned by institutional investors.

Hershey Price Performance

HSY stock traded up $3.76 during trading on Wednesday, reaching $174.00. 1,446,526 shares of the company were exchanged, compared to its average volume of 1,705,007. The Hershey Company has a twelve month low of $168.16 and a twelve month high of $211.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54. The company has a market capitalization of $35.21 billion, a price-to-earnings ratio of 20.05, a P/E/G ratio of 4.10 and a beta of 0.38. The company has a 50-day moving average of $185.50 and a two-hundred day moving average of $191.28.

Hershey Announces Dividend

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 given a dividend of $1.37 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.15%. Hershey's dividend payout ratio is currently 63.13%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Hershey from $191.00 to $199.00 and gave the company a "hold" rating in a research note on Tuesday, September 10th. Jefferies Financial Group dropped their price target on Hershey from $163.00 to $161.00 and set an "underperform" rating for the company in a report on Thursday, October 31st. Royal Bank of Canada lowered their price objective on Hershey from $205.00 to $183.00 and set a "sector perform" rating on the stock in a research report on Friday, November 8th. Argus cut shares of Hershey from a "buy" rating to a "hold" rating in a research report on Wednesday, August 14th. Finally, Barclays lowered their price target on shares of Hershey from $202.00 to $180.00 and set an "equal weight" rating on the stock in a research report on Monday, November 11th. Five analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average 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.