The Hershey Company (NYSE:HSY) Stake Boosted by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC boosted its holdings in The Hershey Company (NYSE:HSY) by 1.0% in the third quarter, HoldingsChannel.com reports. The firm owned 8,151 shares of the company’s stock after acquiring an additional 80 shares during the period. Kingsview Wealth Management LLC’s holdings in Hershey were worth $1,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its holdings in Hershey by 30,461.7% in the third quarter. International Assets Investment Management LLC now owns 573,643 shares of the company’s stock worth $1,100,130,000 after acquiring an additional 571,766 shares during the last quarter. Confluence Investment Management LLC raised its position in shares of Hershey by 297.9% during the 2nd 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 bought a new stake in shares of Hershey in the 2nd quarter worth approximately $82,123,000. Principal Financial Group Inc. boosted its position in Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company’s stock valued at $186,571,000 after purchasing an additional 389,404 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its stake in Hershey by 1,194.0% during the 2nd 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 last quarter. Institutional investors own 57.96% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on HSY shares. Barclays cut their target price on Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Bank of America reduced their target price on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Tuesday, October 15th. Citigroup cut Hershey from a “neutral” rating to a “sell” rating and cut their price target for the company from $195.00 to $182.00 in a report on Tuesday, August 27th. Royal Bank of Canada decreased their price objective on Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Finally, Piper Sandler lifted their target price on Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Five investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Hershey has a consensus rating of “Hold” and a consensus target price of $189.33.

Hershey Trading Up 0.4 %

Shares of NYSE:HSY opened at $175.49 on Tuesday. 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 stock has a market capitalization of $35.51 billion, a price-to-earnings ratio of 20.22, a PEG ratio of 4.19 and a beta of 0.38. The Hershey Company has a 1-year low of $168.16 and a 1-year high of $211.92. The company has a 50 day moving average price of $184.00 and a 200 day moving average price of $190.73.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, November 18th will be issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Monday, November 18th. Hershey’s payout ratio is 63.13%.

Hershey 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.