D.A. Davidson & CO. Cuts Stock Position in The Hershey Company (NYSE:HSY)

D.A. Davidson & CO. lowered its position in The Hershey Company (NYSE:HSY) by 16.1% during the third quarter, Holdings Channel reports. The institutional investor owned 23,425 shares of the company’s stock after selling 4,481 shares during the quarter. D.A. Davidson & CO.’s holdings in Hershey were worth $4,493,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Hershey in the 3rd quarter worth approximately $1,337,000. LPL Financial LLC lifted its stake in Hershey by 10.0% during the 2nd quarter. LPL Financial LLC now owns 320,680 shares of the company’s stock valued at $58,951,000 after acquiring an additional 29,246 shares during the period. MAI Capital Management lifted its stake in Hershey by 11.6% during the 3rd quarter. MAI Capital Management now owns 123,160 shares of the company’s stock valued at $23,620,000 after acquiring an additional 12,832 shares during the period. Portfolio Design Labs LLC acquired a new stake in Hershey during the 3rd quarter valued at approximately $1,852,000. Finally, Advisors Asset Management Inc. lifted its stake in Hershey by 18.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 28,085 shares of the company’s stock valued at $5,386,000 after acquiring an additional 4,464 shares during the period. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HSY shares. Bank of America decreased 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. Piper Sandler boosted their price target on shares of Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Redburn Atlantic initiated coverage on shares of Hershey in a report on Tuesday, October 22nd. They issued a “sell” rating and a $165.00 price target for the company. Jefferies Financial Group cut their price target on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut their price target on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a report on Monday, October 14th. Five equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $189.33.

Hershey Price Performance

HSY opened at $174.09 on Friday. The Hershey Company has a one year low of $168.16 and a one year high of $211.92. 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 company’s 50 day simple moving average is $182.58 and its 200-day simple moving average is $190.28. The stock has a market capitalization of $35.23 billion, a P/E ratio of 20.06, a price-to-earnings-growth ratio of 4.21 and a beta of 0.38.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be issued a $1.37 dividend. The ex-dividend date is Monday, November 18th. This represents a $5.48 annualized dividend and a yield of 3.15%. Hershey’s dividend payout ratio (DPR) is presently 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.