Savoir Faire Capital Management L.P. Reduces Position in The Hershey Company (NYSE:HSY)

Savoir Faire Capital Management L.P. cut its position in The Hershey Company (NYSE:HSY) by 51.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,326 shares of the company’s stock after selling 29,746 shares during the period. Hershey accounts for 2.8% of Savoir Faire Capital Management L.P.’s investment portfolio, making the stock its 14th largest holding. Savoir Faire Capital Management L.P.’s holdings in Hershey were worth $5,432,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Ashton Thomas Securities LLC purchased a new stake in shares of Hershey in the 3rd quarter valued at approximately $25,000. Capital Advisors Ltd. LLC grew its position in shares of Hershey by 218.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock valued at $26,000 after buying an additional 96 shares during the last quarter. GHP Investment Advisors Inc. grew its position in shares of Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after buying an additional 55 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of Hershey in the 2nd quarter valued at $29,000. Finally, Crewe Advisors LLC purchased a new position in shares of Hershey in the 1st quarter valued at $35,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Stock Performance

Shares of HSY opened at $169.99 on Tuesday. 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 stock has a market cap of $34.40 billion, a P/E ratio of 19.58, a PEG ratio of 4.10 and a beta of 0.38. The company has a 50-day moving average of $186.65 and a two-hundred day moving average of $191.60. The Hershey Company has a 12-month low of $169.10 and a 12-month high of $211.92.

Hershey Dividend Announcement

The firm also recently announced 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 3.22%. The ex-dividend date is Monday, November 18th. Hershey’s payout ratio is currently 63.13%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Royal Bank of Canada dropped their target price on shares of Hershey from $205.00 to $183.00 and set a “sector perform” rating on the stock in a research report on Friday, November 8th. The Goldman Sachs Group assumed coverage on shares of Hershey in a research report on Monday, August 12th. They issued a “sell” rating and a $185.00 target price on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Hershey from $188.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, October 14th. Piper Sandler raised their price objective on shares of Hershey from $165.00 to $168.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group lowered their price objective on shares of Hershey from $163.00 to $161.00 and set an “underperform” rating on the stock in a research report on Thursday, October 31st. Five research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. According to MarketBeat, Hershey currently has an average rating of “Hold” and a consensus target price of $189.33.

About Hershey

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.