Bridgewater Associates LP Sells 111,550 Shares of The Hershey Company (NYSE:HSY)

Bridgewater Associates LP reduced its holdings in The Hershey Company (NYSE:HSY) by 74.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 38,885 shares of the company’s stock after selling 111,550 shares during the quarter. Bridgewater Associates LP’s holdings in Hershey were worth $7,457,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. GHP Investment Advisors Inc. increased its holdings in Hershey by 55.0% in the second quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock valued at $28,000 after purchasing an additional 55 shares during the period. Burns J W & Co. Inc. NY increased its stake in shares of Hershey by 0.8% in 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. Wesbanco Bank Inc. raised its position in shares of 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 acquiring an additional 59 shares during the last quarter. Brighton Jones LLC lifted its stake in shares of Hershey by 2.3% in the second quarter. Brighton Jones LLC now owns 2,631 shares of the company’s stock worth $484,000 after acquiring an additional 59 shares during the period. Finally, Valley Brook Capital Group Inc. boosted its holdings in Hershey by 1.5% in the second quarter. Valley Brook Capital Group Inc. now owns 4,067 shares of the company’s stock valued at $748,000 after acquiring an additional 61 shares during the last quarter. Institutional investors own 57.96% of the company’s stock.

Hershey Stock Up 0.5 %

HSY stock opened at $174.09 on Friday. The firm has a market capitalization of $35.23 billion, a PE ratio of 20.06, a P/E/G ratio of 4.21 and a beta of 0.38. The company has a quick ratio of 0.54, a current ratio of 0.85 and a debt-to-equity ratio of 0.76. The Hershey Company has a twelve month low of $168.16 and a twelve month high of $211.92. The stock’s 50 day moving average is $182.58 and its 200-day moving average is $190.28.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, November 18th will be paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.15%. The ex-dividend date is Monday, November 18th. Hershey’s dividend payout ratio (DPR) is presently 63.13%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on HSY shares. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Hershey from $191.00 to $199.00 and gave the stock a “hold” rating in a research report on Tuesday, September 10th. Argus lowered shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, August 14th. Redburn Atlantic initiated coverage on Hershey in a report on Tuesday, October 22nd. They set a “sell” rating and a $165.00 price target for the company. Barclays dropped their price objective on Hershey from $202.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Finally, Stifel Nicolaus decreased their target price on Hershey from $195.00 to $180.00 and set a “hold” rating for the company in a research note on Friday, October 25th. Five research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. According to data from MarketBeat, Hershey has an average rating of “Hold” and a consensus price target of $189.33.

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.