The Hershey Company (NYSE:HSY) Shares Sold by Birmingham Capital Management Co. Inc. AL

Birmingham Capital Management Co. Inc. AL trimmed its holdings in The Hershey Company (NYSE:HSY) by 2.6% in the third quarter, Holdings Channel.com reports. The fund owned 29,911 shares of the company’s stock after selling 800 shares during the period. Hershey comprises 2.1% of Birmingham Capital Management Co. Inc. AL’s portfolio, making the stock its 17th biggest holding. Birmingham Capital Management Co. Inc. AL’s holdings in Hershey were worth $5,736,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. GHP Investment Advisors Inc. increased its holdings in shares of Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after buying an additional 55 shares in the last quarter. Burns J W & Co. Inc. NY boosted its position in Hershey by 0.8% during the third quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock valued at $1,411,000 after purchasing an additional 58 shares during the last quarter. Brighton Jones LLC increased its position in Hershey by 2.3% in the 2nd quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after purchasing an additional 59 shares during the last quarter. Valley Brook Capital Group Inc. raised its stake in shares of Hershey by 1.5% during the 2nd quarter. Valley Brook Capital Group Inc. now owns 4,067 shares of the company’s stock worth $748,000 after purchasing an additional 61 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in shares of Hershey by 10.4% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 647 shares of the company’s stock valued at $119,000 after buying an additional 61 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. JPMorgan Chase & Co. decreased their target price on Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Stifel Nicolaus cut their price objective on shares of Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research report on Friday, October 25th. Royal Bank of Canada restated a “sector perform” rating and issued a $183.00 target price on shares of Hershey in a research note on Tuesday. Bank of America reiterated a “neutral” rating and set a $180.00 target price on shares of Hershey in a research report on Thursday. Finally, Jefferies Financial Group reduced their price target on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research report on Thursday, October 31st. Six analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. According to MarketBeat, Hershey currently has a consensus rating of “Hold” and a consensus price target of $185.17.

Hershey Stock Performance

Hershey stock traded down $0.46 during trading on Friday, hitting $183.49. The stock had a trading volume of 191,972 shares, compared to its average volume of 1,813,496. The stock’s 50 day moving average is $180.11 and its two-hundred day moving average is $188.50. The stock has a market cap of $37.13 billion, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 4.24 and a beta of 0.37. The Hershey Company has a 1 year low of $168.16 and a 1 year 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 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, November 18th will be issued a $1.37 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 2.99%. Hershey’s payout ratio is currently 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.