AMG National Trust Bank Cuts Stock Position in The Hershey Company (NYSE:HSY)

AMG National Trust Bank lessened its holdings in The Hershey Company (NYSE:HSY) by 0.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,584 shares of the company’s stock after selling 78 shares during the period. AMG National Trust Bank’s holdings in Hershey were worth $3,948,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. LPL Financial LLC raised its position in shares of Hershey by 10.0% during the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock valued at $58,951,000 after buying an additional 29,246 shares in the last quarter. CreativeOne Wealth LLC boosted its stake in shares of Hershey by 179.4% during the 1st quarter. CreativeOne Wealth LLC now owns 6,958 shares of the company’s stock worth $1,353,000 after purchasing an additional 4,468 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its holdings in Hershey by 20.1% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 15,716 shares of the company’s stock valued at $2,986,000 after purchasing an additional 2,635 shares during the last quarter. JLB & Associates Inc. lifted its stake in Hershey by 53.5% in the third quarter. JLB & Associates Inc. now owns 64,731 shares of the company’s stock worth $12,414,000 after purchasing an additional 22,562 shares during the last quarter. Finally, Oak Harvest Investment Services boosted its position in shares of Hershey by 10.8% during the third quarter. Oak Harvest Investment Services now owns 38,225 shares of the company’s stock valued at $7,331,000 after buying an additional 3,732 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HSY. Stifel Nicolaus decreased their price target on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Jefferies Financial Group dropped their price objective on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research note on Thursday, October 31st. Piper Sandler lifted their price objective on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Bank of America lowered their target price on Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Finally, UBS Group downgraded Hershey from a “buy” rating to a “neutral” rating and cut their price target for the company from $226.00 to $209.00 in a report on Monday, October 7th. Five research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to MarketBeat, Hershey has a consensus rating of “Hold” and a consensus target price of $189.33.

Hershey Price Performance

Hershey stock opened at $170.92 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The company’s fifty day moving average price is $187.31 and its 200 day moving average price is $191.78. The stock has a market capitalization of $34.58 billion, a P/E ratio of 19.69, a P/E/G ratio of 4.10 and a beta of 0.38. The Hershey Company has a 1 year low of $170.58 and a 1 year high of $211.92.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.21%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s dividend payout ratio is presently 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.