Stifel Financial Corp Acquires 29,507 Shares of The Hershey Company (NYSE:HSY)

Stifel Financial Corp raised its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 964,748 shares of the company's stock after acquiring an additional 29,507 shares during the quarter. Stifel Financial Corp owned approximately 0.48% of Hershey worth $185,027,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Safe Harbor Fiduciary LLC purchased a new position in shares of Hershey during the third quarter valued at approximately $469,000. Royal London Asset Management Ltd. lifted its holdings in shares of Hershey by 2.1% during the third quarter. Royal London Asset Management Ltd. now owns 93,738 shares of the company's stock valued at $17,977,000 after purchasing an additional 1,922 shares during the last quarter. IHT Wealth Management LLC lifted its holdings in shares of Hershey by 171.8% during the third quarter. IHT Wealth Management LLC now owns 11,140 shares of the company's stock valued at $2,137,000 after purchasing an additional 7,042 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of Hershey by 49.1% during the third quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the company's stock valued at $2,124,000 after purchasing an additional 3,647 shares during the last quarter. Finally, Investment Management Corp of Ontario lifted its holdings in shares of Hershey by 48.0% during the third quarter. Investment Management Corp of Ontario now owns 4,931 shares of the company's stock valued at $946,000 after purchasing an additional 1,600 shares during the last quarter. 57.96% of the stock is owned by institutional investors.

Hershey Stock Performance

Shares of HSY stock traded up $0.30 during mid-day trading on Friday, reaching $174.80. 2,332,137 shares of the company's stock traded hands, compared to its average volume of 1,726,834. The Hershey Company has a 12 month low of $168.16 and a 12 month high of $211.92. The firm has a 50 day moving average price of $181.00 and a two-hundred day moving average price of $189.22. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The firm has a market capitalization of $35.37 billion, a PE ratio of 20.14, a price-to-earnings-growth ratio of 4.30 and a beta of 0.37.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Monday, November 18th. Hershey's payout ratio is 63.13%.

Wall Street Analysts Forecast Growth

HSY has been the subject of several recent research reports. UBS Group lowered shares of Hershey from a "buy" rating to a "neutral" rating and lowered their target price for the company from $226.00 to $209.00 in a report on Monday, October 7th. Argus lowered shares of Hershey from a "buy" rating to a "hold" rating in a report on Wednesday, August 14th. Royal Bank of Canada decreased their price objective on shares of Hershey from $205.00 to $183.00 and set a "sector perform" rating for the company in a report on Friday, November 8th. Redburn Atlantic initiated coverage on shares of Hershey in a report on Tuesday, October 22nd. They issued a "sell" rating and a $165.00 price objective for the company. Finally, Stifel Nicolaus decreased 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. Five equities 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, the stock has a consensus rating of "Hold" and a consensus target price of $189.33.

About Hershey

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.