Soltis Investment Advisors LLC boosted its holdings in shares of The Hershey Company (NYSE:HSY - Free Report) by 53.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,339 shares of the company's stock after buying an additional 15,497 shares during the period. Hershey makes up about 0.8% of Soltis Investment Advisors LLC's holdings, making the stock its 23rd biggest position. Soltis Investment Advisors LLC's holdings in Hershey were worth $8,503,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. Arete Wealth Advisors LLC lifted its position in shares of Hershey by 93.6% in the third quarter. Arete Wealth Advisors LLC now owns 3,588 shares of the company's stock worth $688,000 after purchasing an additional 1,735 shares in the last quarter. Sunbelt Securities Inc. increased its stake in Hershey by 25.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,238 shares of the company's stock valued at $238,000 after buying an additional 254 shares during the period. Toronto Dominion Bank lifted its position in Hershey by 5.2% in the 3rd quarter. Toronto Dominion Bank now owns 81,506 shares of the company's stock worth $15,631,000 after buying an additional 4,008 shares in the last quarter. Empire Financial Management Company LLC boosted its stake in shares of Hershey by 31.7% during the 3rd quarter. Empire Financial Management Company LLC now owns 14,956 shares of the company's stock valued at $2,868,000 after buying an additional 3,603 shares during the period. Finally, Coldstream Capital Management Inc. grew its holdings in shares of Hershey by 11.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,466 shares of the company's stock valued at $470,000 after acquiring an additional 252 shares in the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.
Hershey Stock Performance
Shares of Hershey stock traded down $10.05 during midday trading on Wednesday, hitting $177.14. The company had a trading volume of 6,250,566 shares, compared to its average volume of 1,812,436. The stock has a market cap of $35.85 billion, a PE ratio of 20.40, a P/E/G ratio of 4.18 and a beta of 0.37. The Hershey Company has a 1-year low of $168.16 and a 1-year high of $211.92. The business's 50 day simple moving average is $180.57 and its two-hundred day simple moving average is $188.62. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.85 and a quick ratio of 0.54.
Hershey Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be issued a dividend of $1.37 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.09%. Hershey's payout ratio is 63.13%.
Wall Street Analyst Weigh In
HSY has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price objective on Hershey from $188.00 to $180.00 and set a "neutral" rating for the company in a research report on Monday, October 14th. Jefferies Financial Group reduced 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. Citigroup downgraded Hershey from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $195.00 to $182.00 in a report on Tuesday, August 27th. Stifel Nicolaus reduced their target price on shares of Hershey from $195.00 to $180.00 and set a "hold" rating for the company in a research note on Friday, October 25th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $183.00 target price on shares of Hershey in a research report on Tuesday. Five analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. Based on data from MarketBeat.com, Hershey has a consensus rating of "Hold" and an average price target of $187.94.
View Our Latest Research Report on HSY
About Hershey
(
Free Report)
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.
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