D.A. Davidson & CO. Reduces Holdings in The Hershey Company (NYSE:HSY)

D.A. Davidson & CO. cut its stake in shares of The Hershey Company (NYSE:HSY) by 16.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new stake in Hershey during the 3rd quarter valued at about $25,000. Capital Advisors Ltd. LLC lifted its holdings in Hershey by 218.2% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the company’s stock worth $26,000 after buying an additional 96 shares during the period. GHP Investment Advisors Inc. lifted its holdings in Hershey by 55.0% in the 2nd quarter. GHP Investment Advisors Inc. now owns 155 shares of the company’s stock worth $28,000 after buying an additional 55 shares during the period. OFI Invest Asset Management purchased a new stake in Hershey in the 2nd quarter worth approximately $29,000. Finally, Gradient Investments LLC lifted its holdings in Hershey by 71.9% in the 2nd quarter. Gradient Investments LLC now owns 251 shares of the company’s stock worth $46,000 after buying an additional 105 shares during the period. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Trading Up 0.5 %

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

Hershey Announces Dividend

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 3.15%. The ex-dividend date is Monday, November 18th. Hershey’s dividend payout ratio (DPR) is 63.13%.

Wall Street Analyst Weigh In

HSY has been the subject of several research reports. JPMorgan Chase & Co. decreased their target price on Hershey from $188.00 to $180.00 and set a “neutral” rating for the company in a research report on Monday, October 14th. The Goldman Sachs Group began coverage on Hershey in a research report on Monday, August 12th. They set a “sell” rating and a $185.00 price objective for the company. Jefferies Financial Group reduced their target price on Hershey from $163.00 to $161.00 and set an “underperform” rating for the company in a report on Thursday, October 31st. Royal Bank of Canada reduced their target price on Hershey from $205.00 to $183.00 and set a “sector perform” rating for the company in a report on Friday, November 8th. Finally, UBS Group lowered Hershey from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $226.00 to $209.00 in a report on Monday, October 7th. Five investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.