The Hershey Company (NYSE:HSY) Shares Purchased by Townsquare Capital LLC

Townsquare Capital LLC raised its holdings in The Hershey Company (NYSE:HSY) by 8.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,250 shares of the company’s stock after purchasing an additional 2,913 shares during the quarter. Townsquare Capital LLC’s holdings in Hershey were worth $7,144,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in Hershey by 30,461.7% during the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock worth $1,100,130,000 after purchasing an additional 571,766 shares during the period. Confluence Investment Management LLC increased its stake in Hershey by 297.9% during the second quarter. Confluence Investment Management LLC now owns 717,831 shares of the company’s stock worth $131,959,000 after purchasing an additional 537,419 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in Hershey during the 2nd quarter worth approximately $82,123,000. Principal Financial Group Inc. grew its stake in Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock worth $186,571,000 after purchasing an additional 389,404 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of Hershey by 1,194.0% during the second quarter. Mercer Global Advisors Inc. ADV now owns 249,347 shares of the company’s stock worth $45,837,000 after buying an additional 230,077 shares during the period. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Price Performance

Shares of NYSE:HSY opened at $174.09 on Friday. The stock has a market capitalization of $35.23 billion, a P/E ratio of 20.06, a P/E/G ratio of 4.21 and a beta of 0.38. 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 business has a 50-day moving average of $182.58 and a two-hundred day moving average of $190.28. The Hershey Company has a fifty-two week low of $168.16 and a fifty-two week high of $211.92.

Hershey Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.15%. Hershey’s payout ratio is 63.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. UBS Group downgraded Hershey from a “buy” rating to a “neutral” rating and lowered their price target for the company from $226.00 to $209.00 in a report on Monday, October 7th. Citigroup downgraded Hershey from a “neutral” rating to a “sell” rating and lowered their target price for the company from $195.00 to $182.00 in a research note on Tuesday, August 27th. Argus cut shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Stifel Nicolaus reduced their target price on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a report on Friday, October 25th. Finally, Redburn Atlantic started coverage on Hershey in a research report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price target for the company. Five analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $189.33.

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.