Savoir Faire Capital Management L.P. Reduces Stake in The Hershey Company (NYSE:HSY)

Savoir Faire Capital Management L.P. lessened its position in The Hershey Company (NYSE:HSY - Free Report) by 51.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,326 shares of the company's stock after selling 29,746 shares during the quarter. Hershey accounts for 2.8% of Savoir Faire Capital Management L.P.'s portfolio, making the stock its 14th largest position. Savoir Faire Capital Management L.P.'s holdings in Hershey were worth $5,432,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. O Shaughnessy Asset Management LLC increased its stake in Hershey by 1.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 18,584 shares of the company's stock worth $3,615,000 after purchasing an additional 245 shares during the period. UniSuper Management Pty Ltd lifted its holdings in Hershey by 354.9% during the 1st quarter. UniSuper Management Pty Ltd now owns 6,632 shares of the company's stock valued at $1,290,000 after buying an additional 5,174 shares in the last quarter. Lake Street Advisors Group LLC boosted its position in Hershey by 35.3% in the 1st quarter. Lake Street Advisors Group LLC now owns 2,044 shares of the company's stock valued at $397,000 after buying an additional 533 shares during the period. Vaughan David Investments LLC IL boosted its position in Hershey by 12.8% in the 1st quarter. Vaughan David Investments LLC IL now owns 1,573 shares of the company's stock valued at $306,000 after buying an additional 179 shares during the period. Finally, Elgethun Capital Management grew its stake in Hershey by 29.5% in the 1st quarter. Elgethun Capital Management now owns 681 shares of the company's stock worth $133,000 after acquiring an additional 155 shares in the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HSY has been the topic of several research analyst reports. Bank of America dropped their price objective on Hershey from $200.00 to $195.00 and set a "neutral" rating on the stock in a research note on Tuesday, October 15th. Barclays cut their price target on Hershey from $202.00 to $180.00 and set an "equal weight" rating on the stock in a research note on Monday, November 11th. Citigroup downgraded Hershey from a "neutral" rating to a "sell" rating and decreased their price objective for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. Royal Bank of Canada dropped their target price on shares of Hershey from $205.00 to $183.00 and set a "sector perform" rating on the stock in a report on Friday, November 8th. Finally, The Goldman Sachs Group started coverage on shares of Hershey in a report on Monday, August 12th. They issued a "sell" rating and a $185.00 price target for the company. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $189.33.

Hershey Stock Up 0.1 %

Shares of HSY traded up $0.22 during mid-day trading on Tuesday, hitting $170.21. 1,678,153 shares of the company traded hands, compared to its average volume of 1,706,160. The business has a 50 day moving average of $186.65 and a 200 day moving average of $191.60. The company has a market capitalization of $34.44 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 4.10 and a beta of 0.38. 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 $168.16 and a 1-year high of $211.92.

Hershey Announces Dividend

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 paid a dividend of $1.37 per share. The ex-dividend date is Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.22%. Hershey's payout ratio is currently 63.13%.

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.