Independent Advisor Alliance Has $7.70 Million Stake in The Hershey Company (NYSE:HSY)

Independent Advisor Alliance reduced its stake in The Hershey Company (NYSE:HSY) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 40,169 shares of the company’s stock after selling 2,032 shares during the quarter. Independent Advisor Alliance’s holdings in Hershey were worth $7,704,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC bought a new stake in shares of Hershey during the 3rd quarter worth $25,000. Capital Advisors Ltd. LLC grew its position in shares of Hershey by 218.2% in the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. GHP Investment Advisors Inc. increased its stake in shares of Hershey by 55.0% in the second 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 period. OFI Invest Asset Management acquired a new position in shares of Hershey during the 2nd quarter worth about $29,000. Finally, Peterson Financial Group Inc. bought a new stake in Hershey during the 3rd quarter valued at approximately $46,000. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Down 0.1 %

Shares of NYSE:HSY opened at $174.81 on Monday. The company has a market capitalization of $35.37 billion, a PE ratio of 20.14, a P/E/G ratio of 4.19 and a beta of 0.38. 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 is $184.51 and its 200-day moving average is $190.90. The Hershey Company has a 52 week low of $168.16 and a 52 week high of $211.92.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.37 per share. The ex-dividend date is Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.13%. Hershey’s dividend payout ratio is 63.13%.

Analyst Ratings Changes

Several research analysts have commented on HSY shares. Stifel Nicolaus dropped their price target on Hershey from $195.00 to $180.00 and set a “hold” rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada dropped their target price on shares of Hershey from $205.00 to $183.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. Piper Sandler increased their price target on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a report on Friday, November 8th. UBS Group downgraded shares of Hershey from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $226.00 to $209.00 in a report on Monday, October 7th. Finally, Redburn Atlantic began coverage on shares of Hershey in a research note on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 target price for the company. Five equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company. Based on data from MarketBeat.com, Hershey has a consensus rating of “Hold” and an average target price 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.