The Hershey Company (NYSE:HSY) Shares Purchased by Stifel Financial Corp

Stifel Financial Corp boosted its position in shares of The Hershey Company (NYSE:HSY) by 3.2% in the third quarter, HoldingsChannel.com reports. The fund owned 964,748 shares of the company’s stock after acquiring an additional 29,507 shares during the quarter. Stifel Financial Corp’s holdings in Hershey were worth $185,027,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Park Avenue Securities LLC raised its position in Hershey by 8.1% during the second quarter. Park Avenue Securities LLC now owns 5,584 shares of the company’s stock valued at $1,027,000 after acquiring an additional 417 shares in the last quarter. CWM LLC grew its stake in shares of Hershey by 18.5% during the 2nd quarter. CWM LLC now owns 10,446 shares of the company’s stock worth $1,920,000 after purchasing an additional 1,630 shares during the period. Lantz Financial LLC purchased a new position in shares of Hershey during the 2nd quarter valued at approximately $1,841,000. Simplicity Wealth LLC lifted its stake in shares of Hershey by 183.2% in the 2nd quarter. Simplicity Wealth LLC now owns 5,536 shares of the company’s stock valued at $1,018,000 after purchasing an additional 3,581 shares during the period. Finally, Wesbanco Bank Inc. boosted its holdings in Hershey by 3.7% during the second quarter. Wesbanco Bank Inc. now owns 1,673 shares of the company’s stock worth $308,000 after buying an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Trading Down 1.9 %

NYSE HSY opened at $174.56 on Friday. 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 stock has a market capitalization of $35.32 billion, a P/E ratio of 20.11, a PEG ratio of 4.30 and a beta of 0.37. The firm’s 50-day moving average is $181.00 and its two-hundred day moving average is $189.22. The Hershey Company has a 12 month low of $168.16 and a 12 month high of $211.92.

Hershey Dividend Announcement

The business also recently disclosed 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 3.14%. Hershey’s dividend payout ratio is currently 63.13%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Redburn Atlantic initiated coverage on shares of Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price objective for the company. UBS Group lowered 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 research note on Monday, October 7th. Bank of America lowered their price target on Hershey from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 15th. Piper Sandler boosted their price objective on Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Sanford C. Bernstein downgraded Hershey from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $230.00 to $205.00 in a research note on Monday, October 7th. Five investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $189.33.

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.