MAI Capital Management Boosts Holdings in The Hershey Company (NYSE:HSY)

MAI Capital Management raised its holdings in shares of The Hershey Company (NYSE:HSY - Free Report) by 11.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,160 shares of the company's stock after acquiring an additional 12,832 shares during the quarter. MAI Capital Management owned approximately 0.06% of Hershey worth $23,620,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of HSY. Ashton Thomas Securities LLC bought a new stake in Hershey during the third quarter valued at about $25,000. Capital Advisors Ltd. LLC raised its holdings in Hershey by 218.2% during the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company's stock valued at $26,000 after acquiring an additional 96 shares during the period. GHP Investment Advisors Inc. raised its holdings in Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company's stock valued at $28,000 after acquiring an additional 55 shares during the period. OFI Invest Asset Management bought a new stake in Hershey during the second quarter valued at about $29,000. Finally, Crewe Advisors LLC bought a new stake in Hershey during the first quarter valued at about $35,000. 57.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Bank of America reduced their target price on Hershey from $200.00 to $195.00 and set a "neutral" rating on the stock in a report on Tuesday, October 15th. Argus cut Hershey from a "buy" rating to a "hold" rating in a report on Wednesday, August 14th. Redburn Atlantic assumed coverage on Hershey in a report on Tuesday, October 22nd. They issued a "sell" rating and a $165.00 target price on the stock. Jefferies Financial Group reduced their target price on Hershey from $163.00 to $161.00 and set an "underperform" rating on the stock in a report on Thursday, October 31st. Finally, Barclays reduced their price objective 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. Five investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $189.33.

Hershey Trading Up 0.3 %

Shares of NYSE:HSY traded up $0.44 during trading hours on Monday, hitting $169.99. 1,640,955 shares of the company's stock traded hands, compared to its average volume of 1,706,276. 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 firm has a market capitalization of $34.39 billion, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 4.10 and a beta of 0.38. The business has a fifty day moving average price of $186.65 and a 200-day moving average price of $191.60. The Hershey Company has a 1 year low of $169.10 and a 1 year high of $211.92.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 dividend on an annualized basis and a yield of 3.22%. Hershey's dividend 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.