Victory Capital Management Inc. Increases Stake in The Hershey Company (NYSE:HSY)

Victory Capital Management Inc. lifted its stake in shares of The Hershey Company (NYSE:HSY - Free Report) by 62.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 160,807 shares of the company's stock after purchasing an additional 61,765 shares during the period. Victory Capital Management Inc. owned 0.08% of Hershey worth $30,840,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in HSY. Commonwealth Retirement Investments LLC lifted its stake in Hershey by 1.6% during the third quarter. Commonwealth Retirement Investments LLC now owns 7,725 shares of the company's stock worth $1,482,000 after purchasing an additional 125 shares during the last quarter. Savvy Advisors Inc. bought a new stake in Hershey in the 3rd quarter worth approximately $262,000. Ashton Thomas Private Wealth LLC boosted its stake in Hershey by 10.0% in the third quarter. Ashton Thomas Private Wealth LLC now owns 2,260 shares of the company's stock worth $434,000 after buying an additional 206 shares in the last quarter. Entropy Technologies LP bought a new position in Hershey during the third quarter valued at approximately $1,237,000. Finally, WCM Investment Management LLC grew its position in Hershey by 311.7% during the third quarter. WCM Investment Management LLC now owns 6,505 shares of the company's stock valued at $1,258,000 after acquiring an additional 4,925 shares during the last quarter. 57.96% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on HSY shares. Royal Bank of Canada reduced their price objective on Hershey from $205.00 to $183.00 and set a "sector perform" rating on the stock in a research note on Friday, November 8th. The Goldman Sachs Group started coverage on shares of Hershey in a report on Monday, August 12th. They set a "sell" rating and a $185.00 target price for the company. Jefferies Financial Group decreased their target price on shares of Hershey from $163.00 to $161.00 and set an "underperform" rating for the company in a report on Thursday, October 31st. Bank of America reduced their price objective on Hershey from $200.00 to $195.00 and set a "neutral" rating for the company in a report on Tuesday, October 15th. Finally, Stifel Nicolaus cut their price objective on Hershey from $195.00 to $180.00 and set a "hold" rating for the company in a report on Friday, October 25th. Five investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $189.33.

Hershey Trading Down 4.5 %

Shares of Hershey stock traded down $8.02 during trading hours on Friday, hitting $170.92. The company's stock had a trading volume of 3,656,501 shares, compared to its average volume of 1,803,311. The Hershey Company has a twelve month low of $170.58 and a twelve month high of $211.92. The stock has a market cap of $34.58 billion, a price-to-earnings ratio of 19.69, a P/E/G ratio of 4.10 and a beta of 0.38. The firm has a fifty day moving average of $187.31 and a 200-day moving average of $191.79. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date is Monday, November 18th. Hershey's payout ratio is 63.13%.

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.