Verity & Verity LLC Increases Stake in The Hershey Company (NYSE:HSY)

Verity & Verity LLC boosted its position in The Hershey Company (NYSE:HSY - Free Report) by 28.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,552 shares of the company's stock after buying an additional 15,283 shares during the quarter. Verity & Verity LLC's holdings in Hershey were worth $13,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HSY. Piper Sandler raised their price target on Hershey from $165.00 to $168.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Royal Bank of Canada decreased their price target on Hershey from $205.00 to $183.00 and set a "sector perform" rating on the stock in a research report on Friday, November 8th. UBS Group downgraded shares of Hershey from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $226.00 to $209.00 in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Hershey from $191.00 to $199.00 and gave the company a "hold" rating in a research note on Tuesday, September 10th. Finally, Barclays lowered their target price on shares of 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 given a hold rating to the company. According to data from MarketBeat, Hershey currently has a consensus rating of "Hold" and an average target price of $189.33.

Hershey Price Performance

Shares of Hershey stock traded up $0.22 during trading on Tuesday, hitting $170.21. 1,678,153 shares of the stock traded hands, compared to its average volume of 1,706,160. The firm's fifty day moving average is $185.99 and its 200-day moving average is $191.40. The stock has a market cap of $34.44 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 4.10 and a beta of 0.38. The Hershey Company has a 52 week low of $168.16 and a 52 week high of $211.92. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76.

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 paid a $1.37 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.22%. Hershey's dividend payout ratio (DPR) is 63.13%.

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.