Manning & Napier Advisors LLC Sells 4,228 Shares of The Hershey Company (NYSE:HSY)

Manning & Napier Advisors LLC trimmed its position in The Hershey Company (NYSE:HSY) by 6.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,906 shares of the company’s stock after selling 4,228 shares during the period. Manning & Napier Advisors LLC’s holdings in Hershey were worth $10,822,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Burns J W & Co. Inc. NY boosted its stake in Hershey by 0.8% during the third quarter. Burns J W & Co. Inc. NY now owns 7,355 shares of the company’s stock valued at $1,411,000 after buying an additional 58 shares during the period. Park Avenue Securities LLC boosted its position in shares of Hershey by 1.1% during the 3rd quarter. Park Avenue Securities LLC now owns 5,646 shares of the company’s stock valued at $1,083,000 after acquiring an additional 62 shares during the last quarter. Salomon & Ludwin LLC grew its holdings in shares of Hershey by 23.3% during the third quarter. Salomon & Ludwin LLC now owns 333 shares of the company’s stock worth $64,000 after purchasing an additional 63 shares in the last quarter. Forum Financial Management LP increased its position in shares of Hershey by 1.6% in the third quarter. Forum Financial Management LP now owns 4,130 shares of the company’s stock worth $792,000 after purchasing an additional 64 shares during the last quarter. Finally, Avestar Capital LLC raised its stake in Hershey by 6.0% in the third quarter. Avestar Capital LLC now owns 1,175 shares of the company’s stock valued at $225,000 after purchasing an additional 67 shares in the last quarter. Institutional investors own 57.96% of the company’s stock.

Wall Street Analysts Forecast Growth

HSY has been the subject of a number of research reports. Bank of America reissued a “neutral” rating and issued a $180.00 price target on shares of Hershey in a research note on Thursday, December 12th. Citigroup reduced their target price on Hershey from $165.00 to $159.00 and set a “sell” rating on the stock in a research note on Wednesday, January 8th. Stifel Nicolaus dropped their price target on Hershey from $180.00 to $170.00 and set a “hold” rating for the company in a research note on Friday, January 24th. TD Cowen reduced their price objective on Hershey from $190.00 to $172.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $183.00 price objective on shares of Hershey in a report on Tuesday, December 10th. Six investment 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 company presently has a consensus rating of “Hold” and an average price target of $171.79.

Hershey Stock Performance

Hershey stock opened at $149.41 on Thursday. The Hershey Company has a 1-year low of $147.60 and a 1-year high of $211.92. The firm has a market cap of $30.23 billion, a P/E ratio of 17.21, a P/E/G ratio of 4.28 and a beta of 0.38. The company has a current ratio of 0.85, a quick ratio of 0.54 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average of $168.39 and a 200-day moving average of $182.73.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, November 18th were paid a dividend of $1.37 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $5.48 annualized dividend and a dividend yield of 3.67%. Hershey’s dividend payout ratio (DPR) is presently 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.