Bank of Montreal Can Has $65.26 Million Stock Position in The Hershey Company (NYSE:HSY)

Bank of Montreal Can lowered its stake in The Hershey Company (NYSE:HSY) by 0.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 337,492 shares of the company’s stock after selling 1,143 shares during the period. Bank of Montreal Can owned approximately 0.17% of Hershey worth $65,257,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Hershey by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,387,715 shares of the company’s stock worth $841,476,000 after acquiring an additional 109,336 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of 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 acquiring an additional 389,404 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Hershey by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock worth $144,743,000 after acquiring an additional 25,780 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Hershey by 23.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock worth $143,962,000 after acquiring an additional 147,215 shares during the period. Finally, Confluence Investment Management LLC lifted its holdings 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 acquiring an additional 537,419 shares during the period. Institutional investors and hedge funds own 57.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Bank of America cut their price target on shares of Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Tuesday, October 15th. Stifel Nicolaus dropped their price objective on shares of Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research note on Friday, October 25th. JPMorgan Chase & Co. dropped their price objective on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research note on Monday, October 14th. Piper Sandler increased their price objective on shares of Hershey from $165.00 to $168.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Argus downgraded shares of Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Five investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. Based on data from MarketBeat.com, Hershey currently has a consensus rating of “Hold” and a consensus target price of $189.33.

Hershey Stock Up 0.5 %

Shares of NYSE HSY opened at $174.09 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The Hershey Company has a 52 week low of $168.16 and a 52 week high of $211.92. The firm’s fifty day moving average is $183.01 and its 200 day moving average is $190.39. The company has a market cap of $35.23 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 4.21 and a beta of 0.38.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date is Monday, November 18th. Hershey’s payout ratio is currently 63.13%.

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.