Fifth Third Wealth Advisors LLC Acquires 507 Shares of The Hershey Company (NYSE:HSY)

Fifth Third Wealth Advisors LLC grew its stake in shares of The Hershey Company (NYSE:HSY) by 13.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,174 shares of the company’s stock after acquiring an additional 507 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Hershey were worth $801,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Janus Henderson Group PLC grew its holdings in Hershey by 6.5% during the first quarter. Janus Henderson Group PLC now owns 1,487,565 shares of the company’s stock valued at $289,327,000 after purchasing an additional 90,329 shares during the period. Principal Financial Group Inc. boosted 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 valued at $186,571,000 after purchasing an additional 389,404 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Hershey by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 787,377 shares of the company’s stock valued at $144,743,000 after buying an additional 25,780 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Hershey by 23.2% in the second quarter. Envestnet Asset Management Inc. now owns 783,128 shares of the company’s stock worth $143,962,000 after purchasing an additional 147,215 shares during the last quarter. Finally, 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 valued at $131,959,000 after buying an additional 537,419 shares in the last quarter. Institutional investors own 57.96% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on HSY shares. Argus lowered shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Barclays lowered their target price on Hershey from $202.00 to $180.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Bank of America reduced their price target on Hershey from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft lifted their target price on Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Finally, 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 research report on Friday, November 8th. Five investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to MarketBeat.com, Hershey has an average rating of “Hold” and a consensus target price of $189.33.

Hershey Price Performance

NYSE:HSY opened at $170.21 on Wednesday. The company has a 50 day moving average price of $185.99 and a 200-day moving average price of $191.40. 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 Hershey Company has a 1-year low of $168.16 and a 1-year high of $211.92. The firm has a market cap of $34.44 billion, a price-to-earnings ratio of 19.61, a price-to-earnings-growth ratio of 4.10 and a beta of 0.38.

Hershey Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $5.48 dividend on an annualized basis and a yield of 3.22%. Hershey’s dividend payout ratio is currently 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.