Harbour Investments Inc. Trims Position in The Hershey Company (NYSE:HSY)

Harbour Investments Inc. lowered its stake in shares of The Hershey Company (NYSE:HSY) by 2.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,685 shares of the company’s stock after selling 161 shares during the period. Harbour Investments Inc.’s holdings in Hershey were worth $1,090,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. GHP Investment Advisors Inc. raised its stake in Hershey by 55.0% during the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after purchasing an additional 55 shares during the period. Burns J W & Co. Inc. NY raised 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 worth $1,411,000 after purchasing an additional 58 shares during the period. Wesbanco Bank Inc. raised its stake in Hershey by 3.7% during the second quarter. Wesbanco Bank Inc. now owns 1,673 shares of the company’s stock worth $308,000 after purchasing an additional 59 shares during the period. Brighton Jones LLC raised its stake in Hershey by 2.3% during the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after purchasing an additional 59 shares during the period. Finally, Valley Brook Capital Group Inc. raised its stake in Hershey by 1.5% during the second quarter. Valley Brook Capital Group Inc. now owns 4,067 shares of the company’s stock worth $748,000 after purchasing an additional 61 shares during the period. Hedge funds and other institutional investors own 57.96% of the company’s stock.

Hershey Trading Down 3.1 %

NYSE HSY opened at $178.77 on Friday. The Hershey Company has a one year low of $171.67 and a one year high of $211.92. The company has a 50-day simple moving average of $188.28 and a 200-day simple moving average of $192.05. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.54 and a current ratio of 0.85. The firm has a market capitalization of $36.16 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 4.35 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. Stockholders of record on Monday, November 18th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Monday, November 18th. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

Analyst Ratings Changes

A number of equities analysts have recently commented on HSY shares. Piper Sandler raised their target price 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. UBS Group downgraded shares of Hershey from a “buy” rating to a “neutral” rating and cut their target price for the company from $226.00 to $209.00 in a research note on Monday, October 7th. Sanford C. Bernstein downgraded shares of Hershey from an “outperform” rating to a “market perform” rating and cut their target price for the company from $230.00 to $205.00 in a research note on Monday, October 7th. Argus downgraded shares of Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Hershey from $191.00 to $199.00 and gave the company a “hold” rating in a research note on Tuesday, September 10th. Five investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.