Quantbot Technologies LP Makes New $5.55 Million Investment in The Hershey Company (NYSE:HSY)

Quantbot Technologies LP acquired a new stake in The Hershey Company (NYSE:HSY) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 28,955 shares of the company’s stock, valued at approximately $5,553,000.

Other large investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new position in shares of Hershey in the third quarter valued at $25,000. Capital Advisors Ltd. LLC grew its position in shares of Hershey by 218.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after acquiring an additional 96 shares during the period. GHP Investment Advisors Inc. increased its stake in shares of Hershey by 55.0% during the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares during the last quarter. OFI Invest Asset Management bought a new stake in shares of Hershey in the 2nd quarter valued at about $29,000. Finally, Gradient Investments LLC lifted its stake in Hershey by 71.9% in the 2nd quarter. Gradient Investments LLC now owns 251 shares of the company’s stock valued at $46,000 after purchasing an additional 105 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on HSY shares. Stifel Nicolaus dropped their price objective on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research note on Friday, October 25th. Piper Sandler increased their price target on Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. The Goldman Sachs Group assumed coverage on shares of Hershey in a research report on Monday, August 12th. They set a “sell” rating and a $185.00 price objective for the company. UBS Group lowered shares of Hershey from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $226.00 to $209.00 in a research report on Monday, October 7th. Finally, Jefferies Financial Group reduced their target price on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a research report on Thursday, October 31st. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $189.33.

Hershey Trading Down 1.3 %

NYSE:HSY opened at $173.29 on Wednesday. The stock has a market capitalization of $35.07 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 4.21 and a beta of 0.38. The firm has a fifty day simple moving average of $183.48 and a two-hundred day simple moving average of $190.51. The Hershey Company has a 12 month low of $168.16 and a 12 month high of $211.92. The company has a current ratio of 0.85, a quick ratio of 0.54 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 issued a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s dividend 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.