Assetmark Inc. Purchases 7,302 Shares of The Hershey Company (NYSE:HSY)

Assetmark Inc. raised its holdings in shares of The Hershey Company (NYSE:HSY - Free Report) by 125.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,121 shares of the company's stock after buying an additional 7,302 shares during the quarter. Assetmark Inc.'s holdings in Hershey were worth $2,516,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Hershey by 14.2% during the first quarter. Vanguard Group Inc. now owns 17,341,721 shares of the company's stock worth $3,372,965,000 after purchasing an additional 2,158,912 shares in the last quarter. International Assets Investment Management LLC lifted its position in Hershey by 30,461.7% during the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company's stock valued at $1,100,130,000 after purchasing an additional 571,766 shares during the last quarter. Confluence Investment Management LLC grew its stake in Hershey by 297.9% in the 2nd quarter. Confluence Investment Management LLC now owns 717,831 shares of the company's stock worth $131,959,000 after buying an additional 537,419 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Hershey in the 2nd quarter worth $82,123,000. Finally, Principal Financial Group Inc. raised its position in shares of Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company's stock valued at $186,571,000 after buying an additional 389,404 shares in the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Trading Down 3.0 %

Shares of HSY stock traded down $5.51 during trading hours on Thursday, reaching $178.94. The company's stock had a trading volume of 2,231,011 shares, compared to its average volume of 1,697,630. 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 stock has a market capitalization of $36.20 billion, a P/E ratio of 21.25, a P/E/G ratio of 4.35 and a beta of 0.38. The firm's fifty day simple moving average is $188.28 and its 200 day simple moving average is $192.05. The Hershey Company has a one year low of $171.67 and a one year high of $211.92.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 3.06%. The ex-dividend date of this dividend is Monday, November 18th. Hershey's payout ratio is currently 63.13%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on HSY shares. Piper Sandler upped their target price on shares of Hershey from $165.00 to $168.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Bank of America reduced their price objective on Hershey from $200.00 to $195.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 15th. Redburn Atlantic began coverage on Hershey in a research report on Tuesday, October 22nd. They issued a "sell" rating and a $165.00 target price for the company. Deutsche Bank Aktiengesellschaft increased their price target on shares of Hershey from $191.00 to $199.00 and gave the company a "hold" rating in a research report on Tuesday, September 10th. Finally, UBS Group cut shares of Hershey from a "buy" rating to a "neutral" rating and cut their price objective for the company from $226.00 to $209.00 in a research note on Monday, October 7th. Five investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to MarketBeat, Hershey presently has an average rating of "Hold" and a consensus target price of $189.33.

Hershey 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.